Fervo Energy swings to Q3 2026 net income of $11.66 million from year-earlier loss
Fervo Energy reported third-quarter 2026 net income of $11.66 million, compared with a loss a year earlier, while revenue more than doubled to $116,000. It also said a 396-megawatt power purchase agreement with Google covers 15 years, with first power expected in mid-2028.
1. Quarterly results
Fervo Energy swung to third-quarter 2026 net income of $11.66 million from a year-earlier loss. Revenue more than doubled year over year to $116,000.
2. Projects and spending
Cape Station’s 33-megawatt GeoBlock 1 entered commercial operation on September 30, ahead of its contractual deadline. Fervo signed a new 15-year power purchase agreement with Google for 396 megawatts, with first power expected in mid-2028. The company lowered its second-half 2026 capital expenditure expectations to $700 million–$750 million from $850 million–$900 million, without changing expected commercial operation dates.
