Let’s dig into the relative performance of FuelCell Energy (NASDAQ: FCEL) and its peers as we unravel the now-completed Q2 renewable energy earnings season.

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 17 renewable energy stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 6.6% while next quarter’s revenue guidance was 1% below.

Luckily, renewable energy stocks have performed well with share prices up 66.8% on average since the latest earnings results.

FuelCell Energy (NASDAQ: FCEL)

Founded in 1969, FuelCell Energy (NASDAQ: FCEL) is a leading manufacturer and developer of carbonate fuel cell technology for stationary power generation.

FuelCell Energy reported revenues of $46.74 million, up 97.3% year on year. This print fell short of analysts’ expectations by 5.7%. Overall, it was a slower quarter for the company with a significant miss of analysts’ revenue and adjusted operating income estimates.

“In our third fiscal quarter, we delivered meaningful revenue growth while advancing execution of our long-term strategy,” said Jason Few, President and Chief Executive Officer.

FuelCell Energy pulled off the fastest revenue growth of the whole group. Unsurprisingly, the stock is up 110% since reporting and currently trades at $8.83.

Is now the time to buy FuelCell Energy? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q2: Generac (NYSE: GNRC)

With its name deriving from a combination of “generating” and “AC”, Generac (NYSE: GNRC) offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $1.06 billion, up 6.3% year on year, outperforming analysts’ expectations by 3.4%. The business had an incredible quarter with a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 29.4% since reporting. It currently trades at $195.79.

Is now the time to buy Generac? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q2: Plug Power (NASDAQ: PLUG)

Powering forklifts for Walmart’s distribution centers, Plug Power (NASDAQ: PLUG) provides hydrogen fuel cells used to power electric motors.

Plug Power reported revenues of $174 million, up 21.4% year on year, exceeding analysts’ expectations by 10.4%. Still, it was a softer quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

Interestingly, the stock is up 115% since the results and currently trades at $3.43.

Read our full analysis of Plug Power’s results here.

ChargePoint (NYSE: CHPT)

The most prominent EV charging company during the COVID bull market, ChargePoint (NYSE: CHPT) is a provider of electric vehicle charging technology solutions in North America and Europe.

ChargePoint reported revenues of $98.59 million, down 9.2% year on year. This print surpassed analysts’ expectations by 3.3%. However, it was a slower quarter as it recorded revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.

The stock is up 2.2% since reporting and currently trades at $11.11.

Read our full, actionable report on ChargePoint here, it’s free for active Edge members.

SolarEdge (NASDAQ: SEDG)

Established in 2006, SolarEdge (NASDAQ: SEDG) creates advanced systems to improve the efficiency of solar panels.

SolarEdge reported revenues of $289.4 million, up 9.1% year on year. This number beat analysts’ expectations by 5.3%. Overall, it was a very strong quarter as it also logged a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue estimates.

The stock is up 55.7% since reporting and currently trades at $40.20.

Read our full, actionable report on SolarEdge here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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