FuelCell Energy, Inc. (NASDAQ: FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, this morning reported its financial results for the fiscal quarter ended April 30, 2017. The company’s total revenues for the three-month period were $20.4 million, down from $28.6 million for the comparable prior year period. Likewise, FCEL’s net loss attributable to common shareholders for the quarter totaled $14.0 million, or $0.33 per basic and diluted share, down from $16.2 million, or $0.56 per basic and diluted share, for the second quarter of 2016. Per a report from Seeking Alpha, the company missed its EPS guidance by $0.06, but beat its revenue guidance by $1.27 million. “We are continuing to expand our ownership model in North America as we announced projects with two new utility customers as well as a university,” Chip Bottone, president and chief executive officer of FuelCell Energy, noted in the news release. “We regained marketing rights to the Asian market and have already submitted multi-megawatt proposals to prospective customers and are having discussions with our partner POSCO Energy regarding a long term module procurement agreement for FuelCell Energy to supply modules for the existing installed fleet in South Korea.” Shares of FuelCell Energy were down just over six percent in Thursday morning trade.
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About FuelCell Energy
FuelCell Energy (NASDAQ:FCEL) delivers efficient, affordable and clean solutions for the supply, recovery and storage of energy. The company designs, manufactures, undertakes project development, installs, operates and maintains megawatt-scale fuel cell systems, serving utilities, industrial and large municipal power users with solutions that include both utility-scale and on-site power generation, carbon capture, local hydrogen production for transportation and industry, and long duration energy storage. With installations on three continents and millions of megawatt hours of ultra-clean power produced, FuelCell Energy is a global leader with environmentally responsible power solutions. Visit the company online at www.fuelcellenergy.com
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