In the current climate of escalating environmental concerns, the race towards a sustainable future is more frenzied than ever before. While some industries surge ahead, others falter, such as the hydrogen market, prompting savvy investors to seek out the most cost-effective hydrogen stocks available.
The Transformative Potential of Bloom Energy Corporation (BE)
Amidst the skepticism surrounding solid oxide electrolyzers, Bloom Energy Corporation (NYSE:BE), a trailblazing renewable energy company, stands firm in its convictions. Teaming up with Shell, BE is on the brink of launching a game-changing large-scale solid oxide electrolyzer system to supply hydrogen for Shell’s operations.
KR Sridhar, the Founder, Chairman, and CEO of Bloom Energy Corporation, has hailed this technology as a potential game-changer in the mission to decarbonize hard-to-abate sectors. Financially, BE has been making impressive strides, achieving a record revenue of $1.33 billion in fiscal year 2023, marking an 11.2% year-over-year growth. The company’s innovative offerings like Be Flexible and Combined Heat and Power Systems are poised to meet the rising demand for clean energy solutions. Looking ahead, Bloom Energy Corporation anticipates modest growth in 2024, with revenue projected to fall within the $1.4 billion to $1.6 billion range and non-GAAP operating income estimated at $75 million to $100 million.
The Resilient Stance of Olin Corporation (OLN)
Olin Corporation (NYSE:OLN), a powerhouse in ammunition and chemical manufacturing, doubles down on its commitment to hydrogen production, boasting the title of the nation’s largest electrolytic hydrogen producer.
Despite facing a downturn in sales and net income in Q4 of 2023, Olin remains a sound investment option. The company’s robust $711.3 million share repurchase program underscores its dedication to shareholder value. Moreover, Olin’s “value accelerator initiative” is primed to elevate electrochemical unit (ECU) values, positively impacting its chlor alkali and vinyl segments. Chairman, President, and CEO Scott Sutton’s unwavering optimism in the face of adversity speaks volumes about Olin’s resilience and focus on maintaining a strong balance sheet amidst economic challenges.
Chart Industries (GTLS): Pioneering the Clean Energy Frontier
At the forefront of engineered services for clean energy, Chart Industries (NYSE:GTLS) shines as a beacon of sustainability with its cryo tank solutions and heat transfer systems playing a pivotal role in the hydrogen market.
Acknowledged by Newsweek for its ESG commitment and social responsibility, Chart Industries clinched a spot on the prestigious list of America’s most responsible companies in 2024. The company’s stellar full-year results for 2023 exemplify its growth trajectory, with sales skyrocketing to $3.35 billion, up by nearly 108% from the previous fiscal year. Net income attributable to Chart Industries also surged from $24 million to $47.3 million in fiscal year 2023.
Despite heightened spending in 2023 due to strategic acquisitions and integrations, Chart Industries surpassed its cost synergy targets following its integration with Howden, achieving commercial milestones ahead of schedule. Looking towards 2024, the company forecasts total sales growth between 28% to 37% and adjusted EBITDA growth ranging from 52% to 68%, signaling significant potential for growth and value creation for discerning investors.
On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
