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FuelCell Energy (FCEL) Posts Narrower-than-Expected Q4 Loss

Zacks

FuelCell Energy Inc. FCEL reported an adjusted loss of 17 cents per share in the fourth quarter of fiscal 2017, narrower than the Zacks Consensus Estimate of a loss of 22 cents. Further, it is also narrower than the loss of 41 cents in the year-ago period.

Total Revenues

In the fourth quarter of fiscal 2017, FuelCell Energy’s total revenues were $47.9 million, beating the Zacks Consensus Estimate of $25 million by 91.6%. Total revenues also increased 99.6% from $24 million in the year-ago quarter.

The increase in the total revenues is primarily due to higher contribution from its product and generation segments, which was marginally offset by lower contribution from Advanced technologies contract and Service agreements and license segments.


Highlights of the Release

As of Oct, 31 2017, the company’s contract backlog was $554.2 million, compared with $432.3 million in the year-ago period.

In the quarter under review, the company’s cost of revenues was approximately $44.8 million, up 79.9% from $24.9 million in the prior-year quarter.

Operating expenses were $11.3 million, unchanged from the year-ago quarter.

Financial Details

As of Oct, 31, 2017, cash and cash equivalents were $49.3 million, down from $84.2 million as of Oct 31, 2016.

As of Oct, 31, 2017, the long-term debt and other liabilities totaled $63.8 million, down from $80.9 million as of Oct 31, 2016.

FuelCell Energy, Inc. Price, Consensus and EPS Surprise

Zacks Rank

FuelCell Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Ballard Power Systems, Inc. BLDP delivered an average surprise of 25% in the trailing four quarters. It is slated to report the fourth quarter of 2017 results on Mar 7, 2018.

Ormat Technologies, Inc. ORA delivered an average surprise of 8.18% in the trailing four quarters. It is expected to report the fourth quarter of 2017 results on Feb 27, 2018.

Dominion Midstream Partners, LP DM delivered an average surprise of 13.59% in the trailing four quarters. It is scheduled to report the fourth quarter of 2017 results on Jan 29, 2018.

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