Why FuelCell Energy Stock Ran Out of Gas Today

·2 min read
Why FuelCell Energy Stock Ran Out of Gas Today

Shares of fuel cell manufacturer FuelCell Energy (NASDAQ: FCEL) tanked in early trading on the Nasdaq Tuesday, falling 8.4% through 10:30 a.m. EST after the company missed badly on its Q4 2022 earnings report. Heading into earnings day, analysts had forecast that FuelCell would book $43.8 million in sales and lose only $0.07 per share on that revenue -- but FuelCell missed on both the top and bottom lines. While FuelCell missed Wall Street's quarterly sales number, its sales still jumped more than 180% year over year for the quarter, capping a year in which total 2022 sales grew 88% ($130.5 million).