What's Going On With FuelCell Energy's Stock Today - FuelCell Energy (NASDAQ:FCEL)
Benzinga FuelCell Energy IncFCEL reportedsecond-quarter FY23revenues of $38.35 million, more than double from $16.38 million a year ago, beating the consensus of $25.45 million.
"Revenue growth in the quarter was largely driven by revenues from long-term service agreements, primarily relating to the new module exchanges at the plant owned by Korea Southern Power Company ("KOSPO") in Korea that were completed during the quarter," commented Jason Few, President and Chief Executive Officer.
The company reported an EPS loss of $(0.09), wider than the $(0.08) posted in 2Q22, missing the consensus of $(0.07).
Operating loss expanded to $(35.86) million versus $(28.22) million a year ago. Adjusted EBITDA loss reached $(26.03) million, up from $(21.18) million in 2Q22.
FCEL held cash and cash equivalents, restricted cash and cash equivalents, and short-term investments of $353.5 million as of April 30, 2023.
