https://investor.fce.com/press-releases/press-release-details/2024/FuelCell-Energy-Reports-Third-Quarter-of-Fiscal-2024-Results/default.aspx
FuelCell Energy Reports Third Quarter of Fiscal 2024 Result
Sep 05, 2024
(All comparisons are year-over-year unless otherwise noted)
Revenue of $23.7 million compared to $25.5 million
Gross loss of $(6.2) million compared to $(8.2) million
Loss from operations of $(33.6) million compared with $(41.4) million
Net loss per share was $(0.07) compared with $(0.06) which included a $0.04 one-time debt extinguishment benefit in the third quarter of 2023
DANBURY, Conn., Sept. 05, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (NASDAQ: FCEL) today reported financial results for its third quarter ended July 31, 2024.
“In the third quarter, our team achieved solid performance and continued cost management, while advancing our Powerhouse strategy,” said Mr. Jason Few, President and Chief Executive Officer. “We continue to build upon and expand our prospective customer relationships at home and around the world, ranging from interest in our new solid oxide fuel cell and electrolysis platforms, to repowering projects in Korea, such as with Gyeonggi Green Energy Co., Ltd.’s Hwaseong Baolan Industrial Complex where we are supplying 42 upgraded fuel cell modules over the next couple of years. With our recent wins, backlog grew meaningfully in the quarter. We also see meaningful potential to capture the rapidly increasing time-to-power opportunity as grids are challenged by AI data center growth.”
“While we execute on our current opportunity set, we are also focused on building our sales pipeline,” added Mr. Few. “We believe we are positioned to capitalize on market opportunities, ranging from built-in fuel diversity which supports biogas applications and hydrogen blending, similar to our work with Ameresco in Sacramento, CA, to the growing power and absorption or electrical cooling needs of edge data centers. Our goal is to generate steady, predictable results now while keeping our focus on future growth.”
Sep 05, 2024
(All comparisons are year-over-year unless otherwise noted)
Revenue of $23.7 million compared to $25.5 million
Gross loss of $(6.2) million compared to $(8.2) million
Loss from operations of $(33.6) million compared with $(41.4) million
Net loss per share was $(0.07) compared with $(0.06) which included a $0.04 one-time debt extinguishment benefit in the third quarter of 2023
DANBURY, Conn., Sept. 05, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (NASDAQ: FCEL) today reported financial results for its third quarter ended July 31, 2024.
“In the third quarter, our team achieved solid performance and continued cost management, while advancing our Powerhouse strategy,” said Mr. Jason Few, President and Chief Executive Officer. “We continue to build upon and expand our prospective customer relationships at home and around the world, ranging from interest in our new solid oxide fuel cell and electrolysis platforms, to repowering projects in Korea, such as with Gyeonggi Green Energy Co., Ltd.’s Hwaseong Baolan Industrial Complex where we are supplying 42 upgraded fuel cell modules over the next couple of years. With our recent wins, backlog grew meaningfully in the quarter. We also see meaningful potential to capture the rapidly increasing time-to-power opportunity as grids are challenged by AI data center growth.”
“While we execute on our current opportunity set, we are also focused on building our sales pipeline,” added Mr. Few. “We believe we are positioned to capitalize on market opportunities, ranging from built-in fuel diversity which supports biogas applications and hydrogen blending, similar to our work with Ameresco in Sacramento, CA, to the growing power and absorption or electrical cooling needs of edge data centers. Our goal is to generate steady, predictable results now while keeping our focus on future growth.”
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