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FuelCell Energy stock up over 20% after Q3 beat

Benzinga Real-time News ·  Sep 14, 2021 11:09

  • $FuelCell Energy(FCEL.US)$ reported third-quarter FY21 revenue growth of 43% year-over-year to $26.82 million, beating the consensus of $20.69 million.

  • EPS improved to $(0.04) from $(0.07) in 3Q20, beating the consensus of $(0.05).

  • Revenues by segments: Service agreements and license $14.34 million (101.7% Y/Y), Generation $6.23 million (+31.9% Y/Y), and Advanced Technologies $6.25 million (-9.4% Y/Y).

  • The company reported a gross profit of $1.1 million versus $(3.13) million last year. The margin stood at 4.1%.

  • Loss from operations reduced slightly to $(10.58) million, from $(10.76) million a year ago.

  • Adjusted EBITDA loss narrowed to $(5.17) million.

  • FuelCell Energy's backlog decreased 2.2% Y/Y to $1.30 billion as of July 31, 2021.

  • FuelCell Energy held cash and equivalents of $494 million as of July 31, 2021.

  • Price Action: FCEL shares are trading higher by 21.53% at $6.83 on the last check Tuesday.

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