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Jun 30, 2023
Fluence Q3 2023 Earnings Report
Fluence reported a strong quarter with timely project execution, strengthened supply chains, and increased pipeline and cash position.
Key Takeaways
Fluence Energy, Inc. reported a strong third quarter for fiscal year 2023, marked by a 124% year-over-year increase in revenue to $536.4 million. The company's GAAP gross profit margin improved to 4.1%, and it reduced its net loss to $35.0 million. Fluence also raised its full fiscal year 2023 revenue guidance to $2.0-$2.1 billion and adjusted gross profit guidance to $117-$132 million.
Quarterly revenue increased by 124% year-over-year, reaching approximately $536.4 million.
GAAP gross profit margin improved to approximately 4.1% compared to negative 2.2% in the same quarter last year.
Net loss was reduced to approximately $35.0 million, compared to $60.8 million for the same quarter last year.
The company increased its fiscal year 2023 revenue guidance to a range of $2.0 billion to $2.1 billion.
Forward Guidance
Fluence is increasing its fiscal year 2023 total revenue guidance range to $2.0 billion to $2.1 billion and its fiscal year 2023 Adjusted gross profit guidance range to $117 million to $132 million.
Positive Outlook
- Raising fiscal year 2023 revenue guidance to a range of $2.0 billion to $2.1 billion.
- Raising fiscal year 2023 Adjusted gross profit guidance to a range of $117 million to $132 million.
- Expect to be close to Adjusted EBITDA breakeven for the fourth fiscal quarter.
- Secured US Battery Cells to Support Domestic Content Requirements Under Inflation Reduction Act
- Believe agreement with AESC will enable both shareholders and customers to capture the benefits of the Inflation Reduction Act
Historical Earnings Impact
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Avg. Return Before/After Earnings
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