Bulletin
Investor Alert

New York Markets After Hours

Market Pulse Archives

Jan. 22, 2020, 9:13 a.m. EST

FuelCell's stock tumbles after wider-than-expected loss, revenue missed forecasts

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    FuelCell Energy Inc. (FCEL)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of FuelCell Energy Inc. /zigman2/quotes/203763461/composite FCEL -8.73% plunged 23% on heavy volume in premarket trading Wednesday, after the fuel cell technology company reported a wider-than-expected fiscal fourth-quarter loss and revenue that fell more than forecast. Trading volume was 10.4 million shares, making the stock the most actively traded ahead of the open. The net loss for the quarter to Oct. 31 was $36.0 million, or 23 cents a share, after a loss of $17.9 million, or $2.31 a share, in the year-ago period. The FactSet consensus for net losses per share was 11 cents. Revenue fell 38% to $11.0 million, reflecting FuelCell's decision to de-emphasize product sales to focus on utility scale power purchase agreement opportunities. That missed the FactSet revenue consensus of $11.5 million. Product sales fell 95% to $500,000, while generation revenue tripled (up 206%) to $5.5 million. Total contract backlog as of Oct. 31 increased 17% from last year to $1.32 billion. The stock, which closed Tuesday at an 8 1/2-month high, has run up more than 9-fold (up 832%) over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.35% has gained 11%.

/zigman2/quotes/203763461/composite
US : U.S.: Nasdaq
$ 2.30
-0.22 -8.73%
Volume: 18.45M
Feb. 24, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$531.63 million
Rev. per Employee
$151,785
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,225.89
-111.86 -3.35%
Volume: 2.72B
Feb. 24, 2020 4:20p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.