Fluence Energy shares rise 10.13% premarket as record $5.5B backlog and $750M new orders signal strong growth momentum despite Q1 margin pressures.

Fluence Energy surged 10.13% in premarket trading following its Q1 2026 earnings call, which highlighted a record $5.5 billion backlog, $750 million in new global orders (72% from the U.S.), and reaffirmed full-year revenue guidance of $3.2–$3.6 billion. Management attributed the quarter’s 5.6% adjusted gross margin below expectations to $20 million in non-recurring costs from two international projects and seasonal factors, emphasizing these were "non-systemic." The company also reported $1.1 billion in liquidity and progress on domestic supply chain expansion, including Arizona-based enclosure production. Despite a $45.1 million net loss, the strong backlog coverage (midpoint of revenue guidance fully secured) and growing U.S. demand, particularly in data center and long-duration storage segments, bolstered investor confidence in Fluence’s execution and growth trajectory.