Fervo Energy is trading 4.88% up at $25.35 after reporting second-quarter results before the August 12, 2026 market open and raising its 2030 geothermal development target.

  • Revenue of $0.11 million exceeded the $0.04 million estimate.
  • Management raised the target to 1.1 gigawatts, a 100-megawatt increase; Cape Station remains on track for first power in Q4 2026.
  • The company posted a $55.9 million net loss, while broader indexes were modestly higher.