FCEL - FuelCell Energy Beats Projections In Q2 Fuels Hope With New Projects | Benzinga
FuelCell Energy Inc (NASDAQ:FCEL) reported a second-quarter fiscal 2024 revenue decline of 42% year-over-year to $22.42 million, beating the consensus of $21.35 million.
Service Agreements revenue dropped to $1.4 million from $26.2 million due to no module exchanges; Generation revenues jumped 67% to $14.1 million, driven by new projects.
Advanced Technologies contract revenues rose to $6.9 million, boosted by higher government and other contracts.
The company reported an EPS loss of $0.07, beating the consensus loss of $0.08.
The company reported a gross loss of $7.1 million, worsening from the previous year’s $6.1 million, largely due to high costs and unfavorable margins in generation projects.
Operating expenses increased ...