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FuelCell (FCEL) Posts Better-Than-Expected Q3 Loss & Revenues

FuelCell Energy (FCEL) posts narrower-than-estimated third-quarter fiscal 2021 loss and better revenues. Also, both metrics improve year over year.

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This story originally appeared on Zacks

FuelCell Energy, Inc. FCEL incurred a third-quarter fiscal 2021 net loss of 4 cents per share, narrower than the Zacks Consensus Estimate of a loss of 5 cents. Also, it compared favorably with the year-ago loss of 7 cents.

- Zacks

Total Revenues

FuelCell’s total revenues came in at $26.8 million, beating the Zacks Consensus Estimate of $21.2 million by 26.4%. The top line also improved 43.2% from the year-earlier period’s tally.

FuelCell Energy, Inc. Price, Consensus and EPS Surprise FuelCell Energy, Inc. Price, Consensus and EPS Surprise

FuelCell Energy, Inc. price-consensus-eps-surprise-chart | FuelCell Energy, Inc. Quote

Segmental Details

Service and License: Total revenues were $14.3 million, up 101.7% year over year. This increase was aided by a rise in the number of module exchanges during the reported quarter.



Generation: Total revenues of $6.2 million improved 31.9% year over year. This rise was owing to higher operating output of the generation fleet portfolio.



Advanced Technologies: Total revenues of $6.2 million dropped 9.4% year over year. This decline was due to lower revenues recognized under government contracts.

Highlights of the Release

The company reported a gross profit of $1.1 million against a loss of $3.1 million recorded in third-quarter fiscal 2020.



Total operating expenses rose 53.1% year over year to $11.7 million.



Interest expense for the reported quarter was $1.6 million, down 62.7% from the prior fiscal-year level.



Backlog at the end of third-quarter fiscal 2021 was $1.30 billion, down 2.3% year over year.

Financial Update

Cash and cash equivalents (unrestricted) as of Jul 31, 2021 were $468.6 million compared with $149.9 million on Oct 31, 2020.



Long-term debt and other liabilities as of Jul 31, 2021 were $73.6 million compared with $150.7 million on Oct 31, 2020.

Zacks Rank

Currently, FuelCell has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Ameresco, Inc. AMRC is expected to report third-quarter 2021 results on Nov 1, 2021. The Zacks Consensus Estimate for earnings is pegged at 34 cents per share.

Covanta Holding Corporation CVA is expected to release third-quarter 2021 earnings performance on Nov 4, 2021. The Zacks Consensus Estimate for earnings is pegged at 18 cents per share.



Clearway Energy Inc. CWEN is expected to report third-quarter 2021 earnings on Nov 4, 2021. The Zacks Consensus Estimate for earnings stands at 98 cents per share.



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