Fervo Energy Reports Q2 2026 Earnings with Increased Capital Expenditures and Updated Guidance
Fervo Energy (FRVO) reported a second-quarter operating loss of $28.7 million, primarily due to high general and administrative expenses. The company also recorded a net loss of $55.9 million for the quarter, largely driven by noncash items such as a $40 million loss from warrant liability fair value changes. Capital expenditures rose significantly in Q2 2026 to $226.5 million compared to $108 million in the same period of 2025 due to increased construction activity at Cape Station. The company raised its full-year capital expenditure guidance for H2 2026 to between $850 million and $900 million, reflecting ongoing development efforts. Fervo Energy also updated several key metrics including a revised 2030 capacity target of 1.1 gigawatts and an expanded contracted revenue backlog totaling $7.2 billion across signed power purchase agreements.
Tickers: $FRVO