BE · 10-Q · 2026Q1 · Full report

Freight and logistics volatility

Bloom Energy Corp · 2026-04-29 · Importance 26 · Surprise 24

Global freight and logistics markets remained volatile in Q1 2026, with elevated ocean, ground and specialized heavy-equipment transportation rates impacting costs. Given the size and modular configuration of Energy Server systems, changes in freight pricing can meaningfully affect cost of revenue and project-level margins for large multi‑megawatt and international shipments. Management is pursuing mitigations — indexed freight arrangements, routing optimization, shipment consolidation, and increased regional sourcing — but cautions these may not fully offset future freight rate increases. Elevated logistics costs therefore pose margin risk on large deployments and cross-border projects.

Key facts

• Global freight and logistics markets remained volatile during the first quarter of 2026 with elevated ocean, ground and specialized heavy-equipment transportation rates
• Higher fuel prices, labor costs and routing inefficiencies contributed to elevated logistics costs in Q1 2026