Fluence Energy and American Express navigate contrasting market challenges in 2026
Two major companies are facing contrasting fortunes in early 2026. Fluence Energy, a battery storage specialist, is expanding its pipeline despite a sharp drop in share value. Meanwhile, American Express has seen its stock decline, though its financial health remains stronger than many competitors.
Fluence Energy is negotiating deals worth 36 GWh with leading data centre operators. These projects aim to bypass lengthy grid connection delays by providing on-site battery storage. The company already holds a record backlog of $5.5 billion, enough to cover its full-year revenue guidance for 2026. However, its shares have fallen 51% from their February peak, closing at a low on March 16, 2026. First-quarter gross margins also disappointed, though management expects to recover $20 million from changes in international project scopes.
American Express, on the other hand, has seen its stock drop 22% from a 52-week high of $387.36 in December 2025 to around $301.62 by mid-March 2026. Despite this decline, the company maintains a solid financial position. Its net write-off rate for Q4 2025 stood at just 2.1%, well below the 4.1% industry average for commercial banks. Only 1.3% of card member loans were over 30 days past due in the same period, reflecting a high-quality loan portfolio. For fiscal 2026, American Express forecasts revenue growth of 9% to 10% and earnings per share between $17.30 and $17.90. This would mark a 12.5% to 16.4% increase over 2025. Unlike many payment processors, the company issues its own cards, assuming credit risk while earning interest and fees.
Fluence Energy continues to secure large-scale contracts despite its falling share price. The company's battery solutions address a growing need for faster data centre power connections. American Express, though also facing stock declines, projects steady revenue and earnings growth. Its lower charge-off rates and strong loan performance set it apart from broader financial sector trends.
