FuelCell Energy Q3 Revenue Declines 41% on Lower Product Sales, But Smaller EPS Loss Beats Estimates
-
FuelCell Energy reported a 41% revenue decline in Q3 to $25.51 million, missing estimates, due to lower product revenues.
-
EPS loss was $(0.06), an improvement from $(0.08) a year ago, beating estimates.
-
Operating loss expanded to $(41.1) million from $(28) million last year.
-
Backlog decreased 17.2% to $1.06 billion due to cancelling some generation projects.
-
Extended joint development agreement with ExxonMobil through March 2024 to continue fuel cell module prototype development.