FuelCell Energy Q1 2021 Earnings Report
Key Takeaways
FuelCell Energy reported a decrease in revenue and a gross loss for the first quarter of fiscal year 2021. The company focused on strengthening its balance sheet through capital raising activities and debt reduction. They also made progress in decarbonization development efforts.
Revenues decreased by 9% year-over-year to $14.9 million.
Gross loss totaled $(3.6) million, compared to a gross profit of $3.3 million in the prior-year quarter.
Operating loss increased to $(14.4) million from $(3.1) million year-over-year.
Backlog decreased by 7% to $1.27 billion as of January 31, 2021.
FuelCell Energy
FuelCell Energy
FuelCell Energy Revenue by Segment
Forward Guidance
The company expects to execute long-term financing at an efficient cost of capital as future distributed generation projects become operational. This will allow them to recycle cash back into the company for other projects and development to facilitate growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income