FuelCell Energy, Inc. (FCEL - Free Report) incurred fourth-quarter fiscal 2018 adjusted loss of 19 cents per share, wider than the Zacks Consensus Estimate of 17 cents. The loss was also wider than 17 cents recorded in the year-ago quarter.
Adjusted revenues of $17.88 million surpassed the Zacks Consensus Estimate of $16 million by 11.1%. However, the top line declined 62.7% from the prior-year figure of $47.89 million, primarily due to lower contribution from its Product segment.
Product revenues increased 76.4% year over year to $9.4 million.
Service and License revenues were up 7.4% from a year ago to $2.9 million.
Generation Revenues declined 1.4% from the prior-year quarter to $7.1 million.
Advanced Technologies Contract Revenues were down 23.9% from the year-ago quarter to $14 million.
Total operating expenses were up 14.9% year over year to $13 million owing to increased research and development costs incurred by the company.
Interest expenses came in at $2.4 million, up 4.3% from $2.3 million a year ago.
As of Oct 31, 2018, total backlog was $2 billion, out of which $792.5 million was awarded by projects and contract backlog amounted $1.2 billion.
FuelCell Energy had cash and cash equivalents of $39.3 million as of Oct 31, 2018 compared with $49.3 million on Oct 31, 2017.
Long-term debt was $71.6 million as of Oct 31, 2018 compared with $63.8 million on Oct 31, 2017.
FuelCell Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..
Other Upcoming Releases
Plug Power Inc. (PLUG - Free Report) is expected to report fourth-quarter earnings on Mar 6, 2019. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 5 cents.
Ballard Power Systems Inc. (BLDP - Free Report) is expected to report fourth-quarter earnings on Feb 27, 2019. The Zacks Consensus Estimate for the quarter to be reported is pegged at a loss of 2 cents.
Novanta Inc. (NOVT - Free Report) is expected to report fourth-quarter earnings on Feb 27, 2019. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at 52 cents.
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