FuelCell Energy Q4 Revenue Surges 120%, Backlog Climbs 13%, But Losses Persist Amid Restructuring Efforts
FuelCell Energy Q4 Revenue Surges 120%, Backlog Climbs 13%, But Losses Persist Amid Restructuring Efforts
Service agreements revenue rose to $5.6 million from $(0.8) million, driven by two module exchanges during the quarter. Generation revenue increased 40.3% to $12.0 million due to the FuelCell Energy Inc (NASDAQ:FCEL) shares are trading lower after the company reported its fourth quarter 2024 results.
燃料電池能源公司（納斯達克：FCEL）的股票交易下跌，此前該公司報告了2024年第四季度的業績。
The company's total revenues grew 120% year-over-year to $49.326 million, beating the consensus of $39.716 million.
該公司的總營業收入同比增長120%，達到4932.6萬美元，超過市場共識的3971.6萬美元。
Product revenues rose to $25.4 million for the three months ending October 31, 2024, from $10.5 million a year earlier. The increase was driven by $18.0 million from the GGE Agreement for fuel cell module replacements in Korea and $7.7 million from a sales contract with Ameresco for a 2.8 MW platform for the Sacramento Sewer District.
截至2024年10月31日的三個月，產品營業收入從一年前的1050萬美元增長至2540萬美元。增長主要來自於1800萬美元的GGE協議，涉及韓國的燃料電池模塊更換，以及來自阿梅雷斯克的銷售合同，涉及爲薩克拉門託下水道區提供的2.8 MW平台的770萬美元。
Service agreements revenue rose to $5.6 million from $(0.8) million, driven by two module exchanges during the quarter. Generation revenue increased 40.3% to $12.0 million due to the Toyota and Derby projects.
服務協議營業收入從負80萬美元增長至560萬美元，主要得益於季度內的兩次模塊更換。發電營業收入由於豐田和德比項目增長40.3%，達到1200萬美元。
Advanced Technologies revenue grew to $6.4 million, supported by ExxonMobil's Rotterdam project and government contracts, offset by $0.8 million lower revenue from the EMTEC Joint Development Agreement.
先進技術營業收入增長至640萬美元，得益於埃克森美孚的鹿特丹項目和政府合同，部分被EMTEC聯合開發協議減少80萬美元的收入所抵消。
The company reported a loss per share of $2.21, missing the consensus loss of $1.75. The company reported a gross loss of $10.9 million, down from the previous year's $1.5 million loss.
該公司報告每股虧損2.21美元，未達市場共識的1.75美元虧損。該公司報告毛虧損爲1090萬美元，低於去年150萬美元的虧損。
Operating expenses for the quarter decreased to $30.1 million from $34.9 million the previous year. Adjusted EBITDA loss improved to $25.3 million in the quarter from the $30.8 million loss a year ago.
本季度的營業費用從前年的3490萬美元減少至3010萬美元。調整後的EBITDA虧損從一年前的3080萬美元改善至2530萬美元。
In November, FCEL announced a global restructuring in the U.S., Canada, and Germany to reduce operating costs by 15% in fiscal 2025, including a 13% workforce reduction. Delays in solid oxide and carbon capture product timelines mean it will not meet revenue targets provided in fiscal 2022.
11月，FCEL宣佈將在美國、加拿大和德國進行全球重組，以在2025財年減少15%的營業費用，包括減少13%的員工。固體氧化物和碳捕集產品時間表的延遲意味着其將無法滿足2022財年提供的營業收入目標。
However, FuelCell expects a material revenue improvement in fiscal 2025, driven by contracted deliveries, including replacement modules for GGE.
然而，燃料電池能源預計在2025財年將實現顯著的營業收入增長，這得益於合同交付，包括GGE的替換模塊。
As of October 31, 2024, FuelCell had $318.0 million in cash, restricted cash, and short-term investments, down from $403.3 million in 2023. This included $148.1 million in unrestricted cash, $109.1 million in investments, and $60.8 million in restricted cash.
截至2024年10月31日，燃料電池能源擁有31800萬現金、受限現金和短期投資，低於2023年的40330萬。這包括14810萬無條件現金、10910萬投資和6080萬受限現金。
During the quarter, the company sold 1.9 million shares under its Amended Open Market Sale Agreement at $11.23 per share, generating $21.5 million in gross proceeds and $20.8 million net after $0.6 million in fees.
在本季度，該公司根據其修訂的公開市場銷售協議以每股11.23美元出售了190萬股股票，獲得2150萬的毛收益，其中在扣除60萬的費用後，淨收益爲2080萬。
As of October 31, 2024, FCEL's backlog rose 13.1% to $1.16 billion year-over-year, driven by the GGE Agreement. The backlog includes product, service, and generation agreements, with a weighted average term of 16 years.
截至2024年10月31日，FCEL的訂單積壓同比增長了13.1%，達到了11.6億，受GGE協議的推動。該訂單積壓包括產品、服務和發電協議，平均加權期限爲16年。
Price Action: FCEL shares are trading lower by 3.05% at $9.52 at the last check Thursday.
價格動態：在最後一次檢查中，FCEL的股價下跌了3.05%，交易價格爲9.52美元。
