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FuelCell (FCEL) Q4 Earnings Lag Estimates, Revenues Beat

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FuelCell Energy, Inc. (FCEL - Free Report) incurred fourth-quarter fiscal 2019 operating loss of 12 cents per share, wider than the Zacks Consensus Estimate of a loss of 7 cents.

Operating loss narrowed 13% from the year-ago reported loss of $2.28 per share. This year-over-year upside reflects an increase in Generation and Advanced Technologies segments revenues.

GAAP loss was 23 cents per share compared with $2.31 in the year-ago quarter.

Total Revenues

FuelCell’s total revenues came in at $11 million, beating the Zacks Consensus Estimate of $9 million plunging 38.3% from $17.9 million in the year earlier period.

 

FuelCell Energy, Inc. Price, Consensus and EPS Surprise

FuelCell Energy, Inc. Price, Consensus and EPS Surprise

FuelCell Energy, Inc. price-consensus-eps-surprise-chart | FuelCell Energy, Inc. Quote

Segmental Details

Product: Total revenues from this segment were $0.48 million, decreasing 94.9% year over year.

Service and License: Total revenues were $0.75 million, down 74% year over year.

Generation: Total revenues were $5.47 million, skyrocketing 197.2% year over year.

Advanced Technologies: Total revenues of $4.33 million rose 16.8% year over year

Highlights of the Release

In the reported quarter, the company’s gross loss amounted to $23.4 million against gross profit of $1.1 million in the fourth quarter of fiscal 2018.

Total operating expenses declined 26.2% year-over-year to $9.6 million.

Interest expense in the reported quarter was $2.82 million, up 16.3% from the prior year period.

Financial Update

Cash and cash equivalents as of Oct 31, 2019 were $9.43 million compared with $39.29 million on Oct 31, 2018.

Long-term debt and other liabilities as of Oct 31, 2019 were $90.14 million compared with $71.62 million on Oct 31, 2018.

Net cash outflow from operating activities for the fiscal year ending Oct 31 2019 was $30.57 million against cash inflow of $16.32 million in 2018.

Guidance

The company aims to raise its generation portfolio by 100% within fiscal 2022. It expects execution of project backlog, new business wins across the globe, cost-control measures and efficient capital deployment efforts to consistently boost its performance.

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

Clearway Energy, Inc. (CWEN - Free Report) is slated to release fourth-quarter earnings on Feb 27, 2020. The Zacks Consensus Estimate for the quarter to be reported is pegged at 39 cents per share.

Noble Energy, Inc. (NBL - Free Report) is slated to release fourth-quarter earnings on Feb 11, 2020. The Zacks Consensus Estimate for the quarter to be reported stands at a loss of 9 cents per share.

Equinor ASA (EQNR - Free Report) is scheduled to release fourth-quarter earnings on Feb 6, 2020. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at 37 cents per share.

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