FuelCell Energy (NASDAQ:FCEL) earnings for fiscal first quarter of 2020 have FCEL stock heading higher on Monday. This is despite its adjusted losses per share of 20 cents, which misses analysts’ estimates of 8 cents per share. Luckily, the fuel cell power company’s revenue of $16.26 million blows past analysts’ estimates of $14.91 million.
Here’s what else is worth mentioning from the most recent FuelCell Energy earnings report.
- Adjusted per-share losses are 94.96% narrower than losses of $3.97 in the same period of the year prior.
- Revenue for the quarter comes in 8.55% lower than the $17.78 million during the fiscal first quarter of 2019.
- Operating loss of $3.14 million is 79.4% better year-over-year than $15.24 million.
- The FuelCell Energy earnings report also includes a net loss of $40.15 million.
- That’s 128.78% worse than the company’s net loss of $17.55 million reported during the same time last year.
Jason Few, president and CEO of FuelCell Energy, said this about the FCEL stock earnings:
“Our accomplishments in the quarter were a manifestation of our successful execution in a number of areas, including an increase in revenue over the fourth quarter of fiscal 2019, and our continued focus on effective management of operating expenses, while continuing to deliver on project build-out and improvements in our balance sheet and cash on hand.”
The FuelCell Energy earnings report doesn’t include guidance for fiscal 2020. Even so, we know what Wall Street is estimating. That includes adjusted losses per share of -32 cents on revenue of $57.94 million.
FCEL stock was up 11.74% as of Monday afternoon and is currently around 1.74% higher.
As of this writing, William White did not hold a position in any of the aforementioned securities.
