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Jul 31, 2024
FuelCell Energy Q3 2024 Earnings Report
FuelCell Energy's financial performance declined with a decrease in revenue and an increased net loss, but backlog grew due to a new service agreement.
Key Takeaways
FuelCell Energy reported a decrease in revenue and an increase in net loss for the third quarter of fiscal year 2024. Revenue decreased by 7% year-over-year, and the net loss increased due to the absence of a one-time debt extinguishment benefit that was present in the previous year. However, backlog increased due to a new long-term service agreement.
Revenue decreased to $23.7 million compared to $25.5 million year-over-year.
Gross loss improved to $(6.2) million compared to $(8.2) million year-over-year.
Operating loss improved to $(33.6) million compared to $(41.4) million year-over-year.
Net loss per share was $(0.07) compared to $(0.06) year-over-year, which included a $0.04 one-time debt extinguishment benefit in Q3 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
FuelCell Energy is focused on steady, predictable results and future growth by capitalizing on market opportunities, ranging from biogas applications and hydrogen blending to the growing power needs of edge data centers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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