FuelCell Energy (NASDAQ:FCEL) stock is on the rise Tuesday as investors celebrate the company’s earnings report for its fiscal third quarter of 2021.
Let’s jump into that earnings report below to see why holders of FCEL stock are so happy today!
- The first thing worth noting from the most recent earnings report is adjusted losses per share of 4 cents.
- That’s a win for FCEL investors as Wall Street was looking for losses per share of 5 cents during the quarter.
- It’s also an improvement over the -7 cents per share reported in the same period of the year prior.
- Another positive for FCEL stock today comes from its revenue of $26.82 million.
- Yet again, this beats out analysts’ revenue estimate of $20.69 million for fiscal Q3.
- It’s also a 43% jump year-over-year from revenue of $18.73 million.
Jason Few, president and CEO of FuelCell Energy, said this about the news boosting FCEL stock higher today.
“We are almost two years into our Powerhouse business strategy, and we continue to make progress. The ability to deliver these results while simultaneously increasing our annualized production rate, repositioning our brand for the future and building the next generation sales structure underscores the hard work and effort of the over 380 employees of FuelCell Energy.”
FCEL stock is also seeing heavy trading alongside its earnings report today. As a result, some 125 million shares of the stock have changed hands as of this writing. That’s a massive jump from its daily average trading volume of 17.4 million shares.
FCEL stock was up 23.8% as of Tuesday morning.
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