Latest news with #FuelCell
Yahoo
9 hours ago
- Business
- Yahoo
FuelCell Energy Inc (FCEL) Q2 2025 Earnings Call Highlights: Revenue Surge Amid Strategic ...
Total Revenue: $37.4 million, up from $22.4 million in the prior year quarter. Loss from Operations: $35.8 million, compared to $41.4 million in the prior year quarter. Net Loss Attributable to Common Stockholders: $38.8 million, compared to $32.9 million in the prior year quarter. Net Loss Per Share: $1.79, compared to $2.18 in the prior year quarter. Adjusted EBITDA: Negative $19.3 million, compared to negative $26.5 million in the prior year quarter. Cash, Restricted Cash, Cash Equivalents, and Short-term Investments: $240 million as of April 30, 2025. Product Revenues: $13 million, compared to no product revenues in the prior year period. Service Agreement Revenues: $8.1 million, up from $1.4 million in the prior year period. Generation Revenue: $12.1 million, down from $14.1 million in the prior year period. Advanced Technology Contract Revenues: $4.1 million, down from $6.9 million in the prior year period. Gross Loss: $9.4 million, compared to $7.1 million in the prior year quarter. Operating Expenses: Decreased to $26.4 million from $34.3 million in the prior year quarter. Backlog: Increased by approximately 18.7% to $1.26 billion from $1.06 billion as of April 30, 2024. Warning! GuruFocus has detected 5 Warning Signs with FCEL. Release Date: June 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. FuelCell Energy Inc (NASDAQ:FCEL) announced a restructuring plan to prioritize sales of its molten carbonate platform, aiming to accelerate the timeline to expected future profitability. The company is focusing on its core carbonate platform, which is aligned with the growing demand for distributed power generation in the US, Asia, and Europe. FuelCell Energy Inc (NASDAQ:FCEL) has formed a strategic partnership called Dedicated Power Partners (DPP) to accelerate the deployment of its carbonate FuelCell technology in data centers and other large-scale applications. The company reported a significant increase in total revenues for the second quarter of fiscal year 2025, reaching $37.4 million compared to $22.4 million in the prior year quarter. FuelCell Energy Inc (NASDAQ:FCEL) is committed to disciplined cost management, with a plan to reduce operating expenses by 30% on an annualized basis compared to fiscal-year 2024. FuelCell Energy Inc (NASDAQ:FCEL) is pausing broader solid oxide R&D, which may limit future innovation in this area. The company's Torrington manufacturing facility is currently operating at an annualized production rate of approximately 31 megawatts, well below the target of 100 megawatts needed for positive adjusted EBITDA. Despite narrowing losses, FuelCell Energy Inc (NASDAQ:FCEL) reported a net loss attributable to common stockholders of $38.8 million for the second quarter of fiscal year 2025. The restructuring plan includes a global workforce reduction and significant reduction of discretionary overhead spending, which may impact employee morale and operational capacity. Advanced technology contract revenues decreased to $4.1 million from $6.9 million, indicating potential challenges in this segment. Q: Can you provide an update on the Dedicated Power Partners (DPP) initiative and any momentum with customers and orders? A: Jason Few, President and CEO, explained that DPP is focused on data center customers, combining fuel from Diversified Energy, Fuelcell power generation, and financing through TESIAC. They are actively pursuing conversations in Northern Virginia and Kentucky and feel positive about the momentum in turning these discussions into transactions. Q: What is the timeline for reaching EBITDA neutrality, and what are the production targets? A: Michael Bishop, CFO, stated that achieving adjusted EBITDA positive is expected when the Torrington facility reaches 100 megawatts of production. Currently, the facility operates at 31 megawatts, and the timeline depends on the flow of orders. The facility has a capacity of 100 megawatts without additional capital expenditure and can expand to 200 megawatts with further investment. Q: How does the current focus on manufacturing impact the path to profitability compared to the generation portfolio? A: Michael Bishop noted that while the generation portfolio contributes to financials, the focus is on product and service sales. The company is not relying on increasing the generation portfolio but sees opportunities in selling products into DPP and other markets, including Korea, which will also include service agreements. Q: With the rising costs of gas turbines, how does this affect your pricing strategy for data center applications? A: Jason Few mentioned that the increased cost and timeline for gas turbines present an opportunity for Fuelcell Energy. They do not foresee significant changes in pricing to customers due to demand driven by electricity growth and intend to capitalize on this opportunity. Q: Can you elaborate on the power generation opportunities for AI and data centers and which customers are showing the most urgency? A: Jason Few highlighted that the opportunity is not solely around data centers but includes grid resiliency and reliability projects. The data center market is fragmented, with developers, hyperscalers, and gas distribution companies all showing interest. Fuelcell Energy is engaging with all these segments, focusing on delivering power blocks to get data centers operational. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Why FuelCell Energy (FCEL) Stock Is Trading Up Today
Shares of carbonate fuel cell technology developer FuelCell Energy (NASDAQ:FCEL) jumped 27.8% in the afternoon session after the company reported impressive first quarter 2025 (fiscal Q2) results which blew past analysts' sales estimates. Most of that strength came from product sales and service deals, especially those tied to replacing modules under a long-term agreement. Its backlog kept growing too, up almost 19%, which suggests customer demand is still healthy. Still, the good news on the sales side didn't quite make its way down the income statement. Margins remained in the red, though operating losses narrowed a bit. The pressure on margins ended up pulling down both EBITDA and EPS, which missed analysts' estimates. To get things back on track, the company's cutting costs, trimming its workforce by 22%, and putting more focus on its carbonate tech that powers distributed energy projects. So while sales momentum looks solid, the quarter showed that getting to profitability remained an uphill climb. On the leadership front, FuelCell also brought on Mike Hill as its new Chief Commercial Officer, hoping his experience can help push things forward. After the initial pop the shares cooled down and closed the day at $6.47, up 24.4% from previous close. Is now the time to buy FuelCell Energy? Access our full analysis report here, it's free. FuelCell Energy's shares are extremely volatile and have had 91 moves greater than 5% over the last year. But moves this big are rare even for FuelCell Energy and indicate this news significantly impacted the market's perception of the business. The biggest move we wrote about over the last year was 5 months ago when the stock gained 17.8% on the news that the Biden administration announced new rules clarifying that some nuclear power plants can secure tax credits for producing clean hydrogen if the credits help keep reactors running. This announcement means more funding opportunities for hydrogen producers despite some opposition from environmental groups regarding the use of nuclear to produce hydrogen. The update also provides more certainty for investors and related companies within the clean energy space. FuelCell Energy is down 37.1% since the beginning of the year, and at $6.52 per share, it is trading 77.8% below its 52-week high of $29.37 from June 2024. Investors who bought $1,000 worth of FuelCell Energy's shares 5 years ago would now be looking at an investment worth $80.34. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
New Straits Times
2 days ago
- Business
- New Straits Times
FuelCell Energy lays off 22pct of staff as part of restructuring plan
NEW YORK: Renewable power company FuelCell Energy said on Friday it had laid off 22 per cent of its workforce, as part of a global restructuring plan to reduce its operating expenses by 30 per cent from a year earlier. Shares of the Danbury, Connecticut-based company rose 5.6 per cent in premarket trading following the announcement. High interest rates and policy uncertainties around capital-intensive clean energy projects have forced many renewable energy firms to reevaluate their expansion plans. FuelCell said the new plan, focused on its operations in the US, Canada and Germany, follows a global operational restructuring in November that included reducing its workforce by nearly 13 per cent and cutting operating expenses by 15 per cent for 2025. The company said the plan is to protect its position "amid slower-than-expected market investments in clean energy." "Our priorities remain clear: reduce our discretionary spending, decrease our cash burn, and accelerate our trajectory toward our ultimate goal of sustained, positive adjusted EBITDA." CFO Michael Bishop said. The company reported adjusted core loss of US$19.3 million for the quarter ended April 30, higher than Wall Street expectations of US$16.1 million, according to data compiled by LSEG. As part of the restructuring plan, the company, among other methods, also plans to amend the production schedule for one of its manufacturing facilities to align with contracted demand rather than forecasted demand. The company said it has a total of about 426 employees worldwide following the latest reduction in workforce.
Reuters
2 days ago
- Business
- Reuters
FuelCell Energy lays off 22% of staff, to cut annual expenses by 30%
June 6 (Reuters) - Renewable power company FuelCell Energy (FCEL.O), opens new tab said on Friday it had laid off 22% of its workforce, as part of a global restructuring plan to reduce its operating expenses by 30% annually. Shares of the company rose 8.5% in premarket trading following the announcement. FuelCell said the new plan follows a global operational restructuring in November, which included a workforce reduction of nearly 13%. High interest rates and policy uncertainties around capital-intensive clean energy projects have forced many renewable energy firms to reevaluate their expansion plans. The company said it has a total of about 426 employees worldwide following the latest reduction in workforce.
Hypebeast
5 days ago
- Business
- Hypebeast
Official Look at the New Balance 991v2 "Brown/Grey"
Name:New Balance 991v2 'Brown/Grey'Colorway:Brown/GreySKU:U991BG2MSRP:$250 USDRelease Date:Summer 2025Where to Buy:New Balance New Balanceexpands its Made in UK offerings with the991v2in 'Brown/Grey.' The newest addition combines a cozy color palette with advanced cushioning for a refined yet comfortable experience. This iteration of the 991v2 features a premium upper crafted from pigskin suede, mesh and synthetic materials, primarily in a harmonious blend of brown and grey tones. This color scheme offers a sophisticated and versatile look, making it a strong contender for everyday wear as seasons transition. Copy creatorThe New Balance 991v2 'Brown/Grey' (SKU: U991BG2) is a highly anticipated addition to the Made in UK lineup, combining a cozy color palette with advanced cushioning for a refined yet comfortable experience. This iteration of the 991v2 features a premium upper crafted from pigskin suede, mesh, and synthetic materials, primarily in a harmonious blend of brown and grey tones. This color scheme offers a sophisticated and versatile look, making it a strong contender for everyday wear as seasons transition. Underfoot, the 991v2 boasts significant technological upgrades from its predecessor. It features a full-length FuelCell midsole, offering enhanced propulsion and a bouncier feel. This is complemented by the classic ABZORB SBS pods and ENCAP midsole cushioning, which combines lightweight foam with a durable polyurethane rim for superior impact absorption and comfort. Other notable details include reflective accents, debossed 'N' logos, and embroidered 'v2' branding on the tongue.
