We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FuelCell (FCEL) Q4 Loss Wider Than Expected, Sales Miss
Read MoreHide Full Article
FuelCell Energy, Inc. (FCEL - Free Report) incurred fourth-quarter fiscal 2021 net loss of 7 cents per share, wider than the Zacks Consensus Estimate of a loss of 2 cents. Nonetheless, the metric compared favorably with the year-ago loss of 8 cents per share.
Total Revenues
FuelCell’s total revenues came in at $14 million, lagging the Zacks Consensus Estimate of $20 million by 31.5%. The top line also dropped 17.7% from the year-earlier period.
Segmental Details
Service and License: Total revenues were ($0.1) million, down 102% year over year. The decrease in revenues was primarily due to the fact that there were no module exchanges during fourth-quarter fiscal 2021.
Generation: Total revenues of $6.7 million improved 31% year over year. This rise was owing to higher operating output from the generation fleet portfolio.
Advanced Technologies: Total revenues of $7.3 million increased 14% year over year.
FuelCell Energy, Inc. Price, Consensus and EPS Surprise
The company incurred a gross loss of $8.4 million compared with a loss of $8 million in fourth-quarter fiscal 2020.
Total operating expenses rose 56% year over year to $14.2 million. FCEL incurred research and development expenses of $3.5 million during fourth-fiscal quarter 2021, which reflected increased spending on hydrogen commercialization initiatives compared to the comparable prior-year period.
Interest expense for the reported quarter was $1.7 million, down 60.5% from the prior-year level.
Backlog at the end of fourth-quarter fiscal 2021 was $1.29 billion, in line with the Oct 31, 2020 level.
Financial Update
Cash and cash equivalents (unrestricted) as of Oct 31, 2021 were $460.2 million compared with $192.1 million on Oct 31, 2020.
Long-term debt and other liabilities as of Oct 31, 2021 were $78.6 million compared with $150.7 million on Oct 31, 2020.
Plug Power (PLUG - Free Report) is slated to report fourth-quarter 2021 results soon. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 11 cents per share.
Ameresco, Inc. (AMRC - Free Report) is set to report fourth-quarter 2021 results soon. The Zacks Consensus Estimate for earnings is pegged at 44 cents per share.
Ballard Power Systems (BLDP - Free Report) is scheduled to report fourth-quarter 2021 results soon. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 7 cents per share.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FuelCell (FCEL) Q4 Loss Wider Than Expected, Sales Miss
FuelCell Energy, Inc. (FCEL - Free Report) incurred fourth-quarter fiscal 2021 net loss of 7 cents per share, wider than the Zacks Consensus Estimate of a loss of 2 cents. Nonetheless, the metric compared favorably with the year-ago loss of 8 cents per share.
Total Revenues
FuelCell’s total revenues came in at $14 million, lagging the Zacks Consensus Estimate of $20 million by 31.5%. The top line also dropped 17.7% from the year-earlier period.
Segmental Details
Service and License: Total revenues were ($0.1) million, down 102% year over year. The decrease in revenues was primarily due to the fact that there were no module exchanges during fourth-quarter fiscal 2021.
Generation: Total revenues of $6.7 million improved 31% year over year. This rise was owing to higher operating output from the generation fleet portfolio.
Advanced Technologies: Total revenues of $7.3 million increased 14% year over year.
FuelCell Energy, Inc. Price, Consensus and EPS Surprise
FuelCell Energy, Inc. price-consensus-eps-surprise-chart | FuelCell Energy, Inc. Quote
Highlights of the Release
The company incurred a gross loss of $8.4 million compared with a loss of $8 million in fourth-quarter fiscal 2020.
Total operating expenses rose 56% year over year to $14.2 million. FCEL incurred research and development expenses of $3.5 million during fourth-fiscal quarter 2021, which reflected increased spending on hydrogen commercialization initiatives compared to the comparable prior-year period.
Interest expense for the reported quarter was $1.7 million, down 60.5% from the prior-year level.
Backlog at the end of fourth-quarter fiscal 2021 was $1.29 billion, in line with the Oct 31, 2020 level.
Financial Update
Cash and cash equivalents (unrestricted) as of Oct 31, 2021 were $460.2 million compared with $192.1 million on Oct 31, 2020.
Long-term debt and other liabilities as of Oct 31, 2021 were $78.6 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
Plug Power (PLUG - Free Report) is slated to report fourth-quarter 2021 results soon. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 11 cents per share.
Ameresco, Inc. (AMRC - Free Report) is set to report fourth-quarter 2021 results soon. The Zacks Consensus Estimate for earnings is pegged at 44 cents per share.
Ballard Power Systems (BLDP - Free Report) is scheduled to report fourth-quarter 2021 results soon. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 7 cents per share.