On Monday, Fervo Energy Co. (FRVO), a geothermal company, reported wider loss in the first quarter of 2026, due to higher expenses, particularly administrative expenses, and a surge in non-operating expenses, compared to the prior year.
In the pre-market activity on the Nasdaq, the shares were trading 16.04 percent high at $40.72, after closing Thursday's regular trading 3.84 percent down. Net loss for the period was $31.83 million, wider than loss of $9.15 million in the same quarter last year.
Loss per share for the first quarter was $3.72, compared to loss of $1.02 in the previous year.
Administrative expenses climbed to $16.99 million, from $7.68 million in the prior year. Other non-operating expense was $11.876 million compared to prior year loss of $16 thousand.
The company reported revenues of $0.061 million in fiscal 2026, while no revenue was recorded last year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.