Eos Energy Enterprises (EOSE) shares surged as much as 10% on Tuesday after the battery storage company released preliminary second-quarter results showing record revenue and a record backlog. The stock held a 4.6% gain by late morning.
Record Revenue and Backlog
Eos expects Q2 revenue between $68 million and $69 million, which combined with Q1 results would push first-half 2026 revenue above the company's total for all of 2025. The backlog stood at a record $807 million as of June 30, signaling strong business momentum.
Capacity Expansion and Partnership
Earlier this year, Eos partnered with private equity firm Cerberus to form Frontier Power USA, an independent company focused on developing and operating long-duration battery storage projects using Eos's technology. The company also brought Battery Line 2 into commercial production, expanding capacity.
While competitors include giants like Tesla, Eos is carving out a niche in the growing energy storage market. The company will report full financial results on August 5.