#전력 인프라 Analysis Reports
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In its Q2 earnings released on 2026-07-28, Bloom Energy reported revenue of $1,065.4M (+165.5% year-over-year), surpassing $1 billion in quarterly revenue for the first time, and GAAP net income of $196.3M, swinging to profit from a net loss in the year-ago period. The company raised its full-year 2026 revenue guidance from $3.4B-$3.8B to $3.9B-$4.2B (2026-07-28). On 2026-07-08, short-seller outlet Hunterbrook Capital/Media published a report alleging China ties in the scandium supply chain, which the company rebutted via an SEC 8-K. The 2026-07-31 close of $205.81 (-0.63% day-over-day) largely retained the post-earnings surge.
MasTec reported second-quarter 2026 (announced 2026-07-30) revenue of $4.37 billion (+23% year-over-year) and adjusted EBITDA of $384.2 million (+40%), both quarterly records, while its 18-month backlog also reached a record $21.4 billion (+30% year-over-year). The company closed its acquisition of The Superior Group, a data-center-focused electrical contractor, for approximately $1.65 billion on 2026-07-20, and on 2026-08-06 priced $650 million of senior notes due 2036 at a 5.850% coupon. Second-quarter 2026 adjusted EPS of $2.22 came in slightly below the average analyst estimate, and Communications segment revenue grew just 6.2% year-over-year, a relatively lower growth rate than the other segments.
Eaton Corporation plc (NYSE: ETN) reported its Q2 FY2026 results on 2026-07-31. Revenue reached a record $8.5B (+21% YoY, +14% organic), and adjusted EPS of $3.15 beat the market consensus of $3.08. The company raised its full-year 2026 adjusted EPS guidance to $13.40-$13.60 (midpoint $13.50) and its organic growth guidance to 11-13%. The board approved a quarterly dividend of $1.10 per share on 2026-07-22 (record date 2026-08-07, payment date 2026-08-28).
Quanta Services reported Q2 2026 (announced 2026-07-30) revenue of USD 9.56 billion, up 41% year-over-year from USD 6.77 billion. Net income attributable to common stock was USD 451.4 million (GAAP diluted EPS of USD 2.96), with adjusted diluted EPS of USD 4.24. Backlog at quarter-end reached a record USD 53.4 billion, with remaining performance obligations (RPO) of USD 33.6 billion. On the analysis date (2026-07-31), the closing price was USD 667.36, up 1.43% from the prior day, with trading volume of 1,959,293 shares.
Talen Energy Corporation (NASDAQ: TLN) is a US independent power producer (IPP) in the PJM region that owns and operates approximately 15.6GW of generation capacity (including 2.2GW of nuclear), with its core asset being a 90% stake in the Susquehanna nuclear plant (2.5GW). It closed the acquisition of the Cornerstone generation assets (approximately 2.4GW) on 2026-06-15, and disclosed on 2026-07-14 that it was awarded 10,180MW at $325 per MW-day in the PJM 2028/2029 capacity auction. On 2026-06-11, it announced a restructuring of its 17-year, up to 1,920MW Susquehanna nuclear power supply agreement with AWS into a front-of-the-meter structure. Q2 2026 results are scheduled for release after market close on 2026-08-05.
Powell Industries (POWL), founded in 1947 and headquartered in Houston, Texas, is a manufacturer of electrical distribution and control equipment (switchgear). In fiscal Q2 2026 (period ended 2026-03-31), the company reported revenue of $296.6 million (+6% YoY) and net income of $45.9 million, while backlog expanded to $1.8 billion (+33% YoY). After the Q2 close, the company disclosed its largest single order in company history — a data center contract worth over $400 million — extending through fiscal year 2028. The company completed a 3-for-1 stock split on 2026-04-02. Fiscal Q3 (period ended 2026-06-30) results are scheduled for release after market close on 2026-08-03 and had not yet been reported as of the reference date (2026-08-02).
Dominion Energy is a regulated electric and gas utility serving Virginia, North Carolina, and South Carolina. In Q2 2026 it posted adjusted operating EPS of $0.79 (above consensus of $0.75) and revenue of $4.48 billion, reaffirming its 2026 annual guidance of $3.45-$3.69 per share (2026-07-31 earnings release). On 2026-05-18 it agreed to an all-stock merger with NextEra Energy valued at $67.3 billion, filed for regulatory approval with three state utility commissions, FERC, and the NRC on 2026-07-15, and on 2026-08-06 Virginia's governor announced direct intervention in the proceeding. The Coastal Virginia Offshore Wind project was approximately 81% complete as of 2026-08-03, with total project cost raised to $11.7 billion and final completion delayed to late 2027. On 2026-08-05 the Virginia SCC ordered development of a rate structure to allocate transmission infrastructure costs to large-load users such as data centers.
NextEra Energy is the largest U.S. regulated electric utility holding company, operating two business segments — Florida Power & Light (FPL) and NextEra Energy Resources. It posted Q2 2026 adjusted EPS of $1.15 (+9.5% YoY), and its renewable & storage contracted backlog expanded to approximately 35.1GW (Q2 2026 earnings release, 2026-07-24). On 2026-05-18, it entered into an all-stock merger agreement with Dominion Energy (exchange ratio 0.8138, deal value approximately $67B), which is undergoing regulatory approval; on 2026-08-06, the Virginia governor signaled intent to intervene in the Virginia State Corporation Commission (SCC) review. FY2026 adjusted EPS guidance was maintained at $3.92-$4.02 (company guidance, 2026-07-24).
Hyosung Heavy Industries disclosed that its Q2 2026 consolidated operating profit reached KRW 264.3 billion (a record quarterly high, up 60.9% year-over-year), and its order backlog at the end of Q2 stood at KRW 17.5 trillion (up 63.0% year-over-year). Per the 2026 semi-annual report (receipt no. 20260813001554), cumulative first-half revenue was KRW 3.0451 trillion and operating profit was KRW 416.6 billion. In the first half of 2026, 71% of new orders in the Heavy Industries segment originated from the United States, and the company raised its 2026 full-year new order target from KRW 8.4 trillion to KRW 12 trillion.
Gridwiz is a domestic demand response (DR) operator that participates in the Korea Power Exchange's demand resource market. According to its 2026 semi-annual report (receipt No. 20260814002782), it posted revenue of 414.66억원 and an operating loss of 38.50억원. In the previous fiscal year's 2025 annual business report (receipt No. 20260619000475), annual revenue was 1,256.09억원 (+0.7% YoY) and operating profit was 8.16억원, turning profitable from a 2024 operating loss of 43.43억원. On 2026-08-13, the company signed an MOU with SMR specialist ARX to jointly develop an integrated power and cooling solution for AI data centers (Electronic Times, 2026-08-13). The reference-date closing price on 2026-08-14 was 15,900원, down -0.44% from the previous day.
Jeryong Electric is a KOSDAQ-listed power equipment manufacturer that produces distribution transformers, switchgear, and GIS (gas-insulated switchgear), exporting mainly to the United States (founded in 1986; the current corporate entity was established via a spin-off in 2011). Per the FY2025 business report, revenue was KRW 224.017 billion (-14.7% YoY) and operating profit was KRW 67.027 billion (-31.4%), while H1 2026 (cumulative) revenue was KRW 70.323 billion, operating profit KRW 11.123 billion, and net income KRW 26.086 billion (disclosure receipt no. 20260813001320). On 2025-12-22 the company signed a distribution transformer supply contract with PSE&G in the US, and the contract value was increased to KRW 53.1 billion via a correction disclosure on 2026-01-08. The closing price on 2026-08-14 was KRW 48,700, with a market cap of KRW 781.4 billion.
Exelon reported Q1 2026 results announced on 2026-05-06, with revenue of $7.24B (+7.9% year-over-year) and adjusted EPS of $0.91 (above consensus of $0.87). In its Q2 2026 results announced on 2026-07-30, revenue of $5.97B beat consensus, but adjusted operating income of $0.43 per share slightly missed the consensus of $0.44; on the same day, the company lowered its high-probability data center interconnection pipeline from 18GW to 11GW. Full-year 2025 revenue was $24.26B (+5.3% year-over-year) and net income was $2.77B (+12.5% year-over-year). Moody's downgraded the credit rating of subsidiary PECO from Aa3 to A1 on 2026-07-15.
Southern Company is a utility holding company that supplies electricity and gas across the southeastern United States, including Georgia, Alabama, and Mississippi, and posted second-quarter 2026 adjusted EPS of $1.13 (up $0.21 year-over-year). On July 22, 2026, Georgia Power signed a 25-year, 3.2GW power supply agreement with OpenAI, and data-center-related electricity usage rose 55% year-over-year. In early August 2026, the company issued a total of $2.731 billion in convertible preferred notes, and its credit ratings were upgraded to Moody's Baa1 and S&P BBB+. The company raised its April 2026 quarterly dividend to $0.76 per share (annualized $3.04), extending its streak of dividend increases to 25 consecutive years.
Vistra Corp. is a Texas-based integrated power generation and retail electricity company that closed at $148.19 as of 2026-07-31 (-0.29% vs. the previous day). Q1 2026 adjusted EBITDA was $1.5 billion, up year-over-year, and net income turned positive at $1.03 billion. S&P and Fitch upgraded Vistra's credit rating to investment grade (BBB-) on 2025-12-02 and 2026-03-17, respectively. In the PJM 2028/2029 capacity market auction on 2026-07-14, Vistra secured approximately 10,566 MW at cap-level pricing (approximately $333.44/MW-day).
Hubbell Incorporated (NYSE: HUBB) manufactures and sells electrical and utility solutions in the United States and internationally, organized into two segments: Utility Solutions (63% of fiscal 2025 revenue) and Electrical Solutions (37%) (2025 10-K). In Q2 2026 (reported 2026-07-28), revenue rose 15% year-over-year to $1,711.8 million, and adjusted EPS was $5.52, up 12% year-over-year, beating market expectations. The company completed the acquisition of NSI Industries for approximately $3.0 billion on 2026-06-09, and declared a quarterly dividend of $1.42 per share on 2026-07-24 (payable 2026-09-15).
Itron is a smart grid metering and communications infrastructure company serving electric, gas, and water utilities. In Q2 2026 (reported 2026-07-28), revenue declined 7% year-over-year to $563 million, while adjusted gross margin reached a record 41.4% and non-GAAP diluted EPS was $1.59. Annual recurring revenue (ARR) was $417 million, up 21% year-over-year, and backlog remained at approximately $4.4 billion. As of 2026-08-07, the closing price was $103.75 (+0.90% day-over-day, volume 371,225 shares). A cybersecurity incident that occurred on 2026-04-13 was confirmed, per 8-K and 8-K/A filings, to have had no material impact on customer-facing functions.
HD Hyundai Electric is a power equipment specialist supplying ultra-high-voltage transformers, distribution equipment, and rotating machinery, with approximately 70% of its revenue generated overseas (mainly North America). It posted 2025 consolidated revenue of KRW 4.0795 trillion (+22.8% YoY) and operating profit of KRW 995.3 billion (+48.8% YoY), and filed an amended disclosure raising its 2026 order target by 22.8% to $5.185 billion (2026-07-06). The 2026-07-24 closing price was KRW 815,000, down -6.75% from the previous day (KRW 874,000), on a day when the KOSPI overall fell -2.29% amid a surge in international oil prices and US Treasury yields, with the electrical/electronics sector also declining -3.40%.
On 2026-01-30, NRG Energy completed its acquisition of an approximately 13GW gas-fired generation portfolio and the demand-response platform CPower from LS Power, expanding total generating capacity to approximately 25GW. Q1 results announced on 2026-05-05 showed revenue of 10.26B USD (YoY +19%), while adjusted EBITDA declined year-over-year to 1.08B USD, reflecting a mild winter in Texas and the impact of Winter Storm Fern in the East. The 2026 adjusted EPS guidance was maintained at 7.90-9.90 USD, and at the 2026-04-30 annual shareholder meeting the roles of Chairman and CEO were separated, with Antonio Carrillo becoming Chairman and Robert J. Gaudette becoming CEO. Q2 results are scheduled to be announced on 2026-08-04.
Nebius Group N.V. (NBIS) recorded Q1 2026 (Jan-Mar) group revenue of $399 million (+684% YoY), with AI Cloud revenue of $390 million (+841% YoY) accounting for 98% of total revenue (earnings release, 2026-05-13). Nvidia reported a 9.3% stake in NBIS as of 2026-07-13 via Schedule 13G — including pre-funded warrants acquired on 2026-03-11 — confirmed in a 2026-07-21 filing. Nebius announced on 2026-07-17 that it had secured a $775 million senior secured loan collateralized by GPU assets and contracted customer cash flows. Q2 2026 (Apr-Jun) results are scheduled for release before market open on 2026-08-12 and had not yet been released as of the analysis date (2026-08-02).
Applied Digital Corp. reported FY2026 (fiscal year ended 2026-05-31) results on 2026-07-27, with annual revenue of $611.31 million (+167% year-over-year) and fourth-quarter revenue of $258.7 million (+407% year-over-year). In the same disclosure, the company reported a GAAP annual net loss of $250.26 million (net loss per share of $0.91) alongside its first Adjusted EBITDA profit of $107.2 million, and stated it had secured 1.41GW of contracted IT load across five campuses with a small number of customers including CoreWeave, for total contracted lease revenue of approximately $36.2 billion. Following the earnings release, the stock fell -12.8% during regular trading on 2026-07-29 versus the prior close.
Oklo Inc. is a publicly traded company developing the Aurora powerhouse, a sodium-cooled fast fission small modular reactor (SMR). For the first quarter of 2026 (January–March), it reported no commercial revenue and a net loss of $33.065 million (loss per share of -$0.19). The NRC (Nuclear Regulatory Commission) approved Aurora's Preliminary Design Certification (PDC) topical report on May 6, 2026, and completed a pre-application readiness assessment for a Combined License Application (COLA) for the first commercial Aurora at the Idaho National Laboratory site. The company has entered into non-binding power supply agreements with Switch (12 GW scale, through 2044) and Meta (1.2 GW nuclear campus), among others, but no binding long-term power purchase agreement (PPA) has yet been disclosed. Second-quarter 2026 (ended June 30, 2026) results are scheduled to be announced before market open on August 7, 2026.
NuScale Power is a U.S. developer of small modular reactors (SMR). On 2025-05-29, the U.S. Nuclear Regulatory Commission (NRC) granted Standard Design Approval for its uprated 77MWe (US460) design. In Q1 2026 (as of 2026-03-31), revenue was $0.565 million, sharply down year-over-year, with a net loss of $44.0 million. During 2026, the company raised substantial capital through a $1 billion ATM program and a separate public offering, and Fluor Corporation, formerly its largest shareholder, sold its remaining stake entirely on 2026-04-21, fully divesting its holding.
nVent Electric reported Q2 2026 (April–June) revenue of USD 1.471 billion, up 52.8% year-over-year, driven mainly by growing infrastructure demand for data centers (10-Q, accession no. 0001628280-26-051428, 2026-07-31). The Infrastructure (data center) segment's share of revenue expanded from 12% at the time of the 2018 spin-off to 60% in H1 2026. The closing price as of 2026-08-07 was 164.69 USD, up +0.85% from the prior day (163.30 USD), and a quarterly dividend of USD 0.21 per share was paid on the same day.
IREN Ltd is a Nasdaq-listed company transitioning from bitcoin mining to AI cloud and data center leasing, and announced on 2026-08-13 that it had delivered the first phase (Horizon 1, 50MW at its Childress, Texas campus) of its five-year, $9.7 billion AI cloud agreement with Microsoft and had been granted 'Exemplar Cloud' status by NVIDIA. Q3 FY2026 (January–March 2026) revenue was $144.8 million, 34.14% below consensus, while AI cloud revenue rose 94.2% quarter-over-quarter to $33.6 million. On 2026-08-04, the company completed the acquisition of cloud software company Mirantis Inc., issuing approximately 12.6 million new shares. The 2026-08-14 closing price was $44.06, down 1.56% from the prior day.
Atkore Inc. (ATKR) disclosed on 2026-08-03 that it had signed a definitive merger agreement on 2026-08-02 to be acquired by Italian cable manufacturer Prysmian S.p.A. for $95.00 per share in an all-cash deal (enterprise value of approximately $3.8 billion, EV/2025A EBITDA of 9.8x). On the same day, the company released its fiscal 2026 third-quarter results (period ended 2026-06-26), reporting net sales of $794.8 million (+8.1% year-over-year) and adjusted EPS of $1.92, exceeding consensus of $1.78. GAAP net income fell 98.3% year-over-year to just $0.7 million due to litigation settlement charges and acquisition-related costs. The transaction is targeted to close by year-end 2026, subject to approval by Atkore shareholders and regulatory authorities.
GE Vernova reported Q2 2026 (announced 2026-07-22) revenue of $11.1 billion (+21.9% YoY), adjusted EPS of $2.47, and adjusted EBITDA margin of 11.3% (vs. 8.5% in the year-ago period). Orders surged to $24.2 billion (organic +88% YoY), and total backlog reached $176.0 billion (+$13.0 billion from the prior quarter). The company raised its FY2026 revenue guidance to $45.5–46.5 billion and its free cash flow guidance to $11.5–12.5 billion (SEC 8-K, 2026-07-22). Meanwhile, the Wind segment continued to post losses with an EBITDA margin of -13.6%, and orders fell 40% YoY to $1.249 billion.
Standard Nuclear, Inc. (NYSE: STDN), an advanced TRISO nuclear fuel manufacturer headquartered in Oak Ridge, Tennessee, completed its initial public offering (IPO) on 2026-07-16 at $15.00 per share, raising approximately $150 million. On 2026-08-14, the company disclosed via SEC Form 8-K the appointment of Seth Cohen, former Chief Counsel for Nuclear Policy at the U.S. Department of Energy (DOE), as an independent director (effective 2026-08-12), expanding the board to five members. On the same date, the closing price rose +10.09% from the previous day to $13.31, with trading volume of 1,229,104 shares — approximately 1.20x the recent 20-day average volume (1,021,549 shares). As of 2026-03-31, the company disclosed a contracted backlog of up to $245 million and a qualified pipeline of approximately $986 million (S-1).
Haein (003010) is a KOSPI-listed company founded in 1960 that serves as the official domestic dealer for global brands such as Caterpillar, operating across five segments: engines and generators, construction equipment, industrial/logistics equipment, parts and maintenance services, and renewable energy. The closing price on 2026-08-14 was KRW 9,690, a 52-week high, following two upper-limit days on the 7th and 14th of the month and a +19.39% surge on the 11th, prompting the Korea Exchange to give advance notice of short-term overheating designation on August 11. Per the 2026 semiannual report (cumulative, standalone basis), revenue was KRW 1,045.2 (100mn), operating profit KRW 84.1 (100mn), and net income KRW 100.6 (100mn); revenue declined for two consecutive years after peaking at KRW 2,760.8 (100mn) in 2023, while operating margin and net margin showed an improving trend.
CoreWeave is an AI-dedicated cloud infrastructure company built on Nvidia GPUs. For Q2 (ended 2026-06-30), announced on 2026-08-11, revenue rose 112% year-over-year to $2,575M, with adjusted EBITDA of $1,510M. On the same day, revenue backlog was reported at approximately $104B (as of 2026-06-30), and the company raised its FY2026 revenue guidance to $12.4B-$13.2B. On a GAAP basis, losses continued, with an operating loss of $49M and a net loss of $626M; total debt as of 2026-06-30 was $34,973M.
Fluence Energy (NASDAQ: FLNC), which sells grid-connected battery energy storage systems (BESS) and optimization software, reported FY2026 Q3 (period ended 2026-06-30, reported 2026-08-05) revenue of $649.8 million, up 7.9% year-over-year, but posted a GAAP net loss of $44.3 million (a swing from a net profit of $6.9 million in the year-ago period). GAAP gross margin plunged to 5.1% (from 14.8% a year earlier) due to delays in bringing new production facilities online and prepayment costs tied to overseas long-term battery cell supply agreements, among other factors, and the company lowered its FY2026 revenue guidance range to $2.9 billion-$3.1 billion (from $3.2 billion-$3.6 billion) and its adjusted EBITDA guidance range to -$30 million to $10 million (from $40 million-$60 million). In the same quarter, new bookings reached a record $1.44 billion (roughly 3x year-over-year), and backlog reached a record high of $6.4 billion.
SK Eternix is a renewable energy company spun off and relisted from SK E&S in March 2024, directly owning and operating solar, wind, fuel cell, and ESS power generation assets. In FY2025 (2nd fiscal year), consolidated revenue was KRW 385.6 billion (+16% YoY), operating profit was KRW 53.0 billion (+41%), and net income turned profitable at KRW 30.722 billion (based on the 2nd annual general shareholders' meeting financial statement approval report, as of 2025-12-31). On 2026-03-06, SK Discovery and Han & Company W.P. Holdings entered into a share purchase agreement to sell their entire stakes (combined approximately 43.5%) to 'Eclipse', a KKR-affiliated SPV, and following the deal's closing on 2026-04-07, Eclipse was registered as the new largest shareholder (43.10%) (DART substantial shareholding report). The closing price as of 2026-07-24 was KRW 80,900, up +0.37% from the previous day, and up approximately 101% over the preceding month (KRW 40,100 on 6/23 → KRW 80,600 on 7/23).
Vertiv Holdings is a power management and thermal management infrastructure company serving data centers, telecommunications, and industrial facilities. On 2026-07-24, its closing price was 290.36 USD, down -4.50% from the previous close of 304.04 USD, with trading volume of 3,405,162 shares. Q1 2026 (2026-01-01 to 03-31) net sales were 2.65 billion USD, up +30% year-over-year, and the project backlog exceeded 15 billion USD, more than doubling year-over-year (as announced 2026-04-22). No negative company-specific disclosures or earnings releases were identified on the day of the decline, and Q2 2026 earnings are scheduled for release on 2026-07-29.
BWX Technologies reported Q2 2026 (announced 2026-08-03) revenue of 901.6 million USD (+18% YoY) and GAAP diluted EPS of 0.97 USD, with Government Operations accounting for 66.7% of revenue and Commercial Operations 33.6%. The same day, the company raised its full-year 2026 revenue outlook to approximately 3.80 billion USD and signed an agreement to divest more than an 80% stake in its medical and stable isotopes businesses to Nordic Capital for up to 800 million USD. As of Q2 2026, the backlog stood at 8.4 billion USD, up 40% year-over-year. The closing price was 169.9 USD as of 2026-08-07, up +1.92% from the prior day (166.7 USD).