FLNC - Fluence Energy reports mixed Q4 earnings; raises FY23 outlook
- Fluence Energy press release ( NASDAQ: FLNC ): Q1 GAAP EPS of -$0.21 beats by $0.08 .
- Revenue of $310.5M (+77.5% Y/Y) misses by $17.23M .
- Adjusted gross profit margin improved to approximately 4.7%.
- Adjusted EBITDA of negative $25.5M including previously disclosed settlement of liquidated damages recovered from a supplier during the quarter, compared to negative $42.8M for the same quarter last year.
- Total backlog of $2.7B as of December 31, 2022, an increase from $2.2B as of September 30, 2022.
- FY23 guidance: The Company is increasing its fiscal year 2023 total revenue guidance to approximately $1.6 billion to $1.8 billion vs. consensus of $1.58B. Furthermore, the company is increasing its fiscal year 2023 adjusted gross profit guidance to approximately $85 million to $115 million.
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Fluence Energy reports mixed Q4 earnings; raises FY23 outlook