ERock (NYSE:EROC) Releases Earnings Results, Beats Estimates By $0.05 EPS

ERock (NYSE:EROC) posted its earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05, FiscalAI reports. The company had revenue of $152.77 million for the quarter.

Here are the key takeaways from ERock’s conference call:

• Third-quarter revenue nearly quadrupled sequentially to $153 million, and adjusted EBITDA improved by about $27 million to $12.6 million. ERock reaffirmed 2026 guidance of $435 million–$465 million in revenue and $3 million–$9 million in adjusted EBITDA.
• Demand remains strong across data centers, utilities and commercial and industrial customers; the company added more than $300 million in bookings after quarter-end, setting a new backlog record. Production is sold out through early 2028, with management saying customer conversations are increasingly focused on 2028 and 2029 deliveries.
• ERock expects Hyperion to reach 1.2 GW of annual capacity by year-end 2026 and plans for its Atlas facility to add about 900 MW by the first half of 2028, with room to expand. Atlas is expected to require just $20 million–$30 million in capital spending, which the company says it can fund from existing liquidity.
• Bridge-power periods are extending from roughly three years toward five to seven years, which management said generates about three times the ongoing services revenue of backup and dispatchable periods. The company also cited repeat and expansion opportunities among commercial and industrial customers.
• Near-term margins remain tied to projects priced in 2025, generally in the high teens to low 20s, and management said 2027 is largely locked in. It sees recently priced deals reaching the mid-20s or higher, but expects much of that potential margin improvement to show up in 2028 and beyond.

ERock Stock Performance

Shares of ERock stock traded down $0.50 during trading hours on Thursday, reaching $8.33. The company’s stock had a trading volume of 3,760,613 shares, compared to its average volume of 2,638,197. ERock has a one year low of $6.41 and a one year high of $20.70. The business’s 50 day simple moving average is $10.75. The stock has a market cap of $401.29 million and a PE ratio of -138.83.

Wall Street Analyst Weigh In

Several research analysts have commented on EROC shares. Guggenheim dropped their price objective on shares of ERock from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, September 2nd. Bank of America upgraded ERock from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, July 17th. Morgan Stanley increased their price target on ERock from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Weiss Ratings assumed coverage on ERock in a report on Friday, September 4th. They set a “sell (e-)” rating for the company. Finally, JPMorgan Chase & Co. decreased their price objective on ERock from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ERock presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Institutional Investors Weigh In On ERock

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in ERock during the 2nd quarter valued at $7,228,000. BlueCrest Capital Management Ltd purchased a new position in ERock during the second quarter worth $2,900,000. Value Aligned Research Advisors LLC purchased a new position in ERock during the second quarter worth $19,516,000. CenterBook Partners LP purchased a new position in ERock during the third quarter worth $3,134,000. Finally, Kayne Anderson Capital Advisors LP bought a new position in ERock during the second quarter valued at $710,000.

ERock Company Profile

ERock, formally Eagle Rock Energy Partners, L.P., was a Houston-based master limited partnership focused on natural gas and oil. Its businesses included midstream services such as gathering, processing and treating natural gas, as well as exploration and production activities. The partnership operated assets in several U.S. regions, including the Permian Basin and Gulf Coast. In 2014, it sold its upstream business to Vanguard Natural Resources and its remaining midstream operations to Regency Energy Partners, ending its operations as an independent company.