FuelCell Energy Q1 revenues $16.7M, down 55% YoY; operating loss widens to $42.5M

FUELCELL ENERGY INC

2024-Q1 EPS reported -$0.05 revenue$16,691,000

Net loss of $44.4M vs $21.1M YoY; EPS unchanged at $(0.05) on higher share count.
Gross loss of $11.7M vs profit of $5.2M; product revenue $0 vs $9.1M (prior-year option expiration).
Generation portfolio grew to 62.8 MW (43.7 MW at FY23 end) with Derby, CT projects placed in service.
Adjusted EBITDA loss of $29.1M vs $14.4M; operating expenses rose to $30.8M from $27.7M.
No module exchanges expected until Q4 FY2024; management calls Q1 the low-water mark.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FUELCELL ENERGY INC reported first quarter ended January 31, 2024 results: revenue $16.7 million, net income net loss per share was $(0.05) in both quarters, EPS $(0.05) per basic and diluted share.

Period: first quarter ended January 31, 2024
Revenue: $16.7 million
Net income: net loss per share was $(0.05) in both quarters
EPS: $(0.05) per basic and diluted share
Result: reported results

Exact text from the filing

Energy Reports First Quarter of Fiscal 2024 Results First Quarter Fiscal 2024 Financial Summary (All comparisons are year-over-year unless otherwise noted) ● Revenues of $16.7 million compared to $37.1 million ● Gross loss of $11.7 million compared to a gross profit of $5.2 million ● Loss from operations of $(42.5) million compared to $(22.5) million ● Net

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Source: SEC EDGAR

accession 0001558370-24-002672

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