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FuelCell (FCEL) Q4 Earnings Lag Estimates, Revenues Beat

FuelCell Energy, Inc. FCEL incurred fourth-quarter fiscal 2019 operating loss of 12 cents per share, wider than the Zacks Consensus Estimate of a loss of 7 cents.

Operating loss narrowed 13% from the year-ago reported loss of $2.28 per share. This year-over-year upside reflects an increase in Generation and Advanced Technologies segments revenues.

GAAP loss was 23 cents per share compared with $2.31 in the year-ago quarter.

Total Revenues

FuelCell’s total revenues came in at $11 million, beating the Zacks Consensus Estimate of $9 million plunging 38.3% from $17.9 million in the year earlier period.

 

FuelCell Energy, Inc. Price, Consensus and EPS Surprise

FuelCell Energy, Inc. Price, Consensus and EPS Surprise
FuelCell Energy, Inc. Price, Consensus and EPS Surprise

FuelCell Energy, Inc. price-consensus-eps-surprise-chart | FuelCell Energy, Inc. Quote

Segmental Details

Product: Total revenues from this segment were $0.48 million, decreasing 94.9% year over year.

Service and License: Total revenues were $0.75 million, down 74% year over year.

Generation: Total revenues were $5.47 million, skyrocketing 197.2% year over year.

Advanced Technologies: Total revenues of $4.33 million rose 16.8% year over year

Highlights of the Release

In the reported quarter, the company’s gross loss amounted to $23.4 million against gross profit of $1.1 million in the fourth quarter of fiscal 2018.

Total operating expenses declined 26.2% year-over-year to $9.6 million.

Interest expense in the reported quarter was $2.82 million, up 16.3% from the prior year period.

Financial Update

Cash and cash equivalents as of Oct 31, 2019 were $9.43 million compared with $39.29 million on Oct 31, 2018.

Long-term debt and other liabilities as of Oct 31, 2019 were $90.14 million compared with $71.62 million on Oct 31, 2018.

Net cash outflow from operating activities for the fiscal year ending Oct 31 2019 was $30.57 million against cash inflow of $16.32 million in 2018.

Guidance

The company aims to raise its generation portfolio by 100% within fiscal 2022. It expects execution of project backlog, new business wins across the globe, cost-control measures and efficient capital deployment efforts to consistently boost its performance.

Zacks Rank

Currently, FuelCell has a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Clearway Energy, Inc. CWEN is slated to release fourth-quarter earnings on Feb 27, 2020. The Zacks Consensus Estimate for the quarter to be reported is pegged at 39 cents per share.

Noble Energy, Inc. NBL is slated to release fourth-quarter earnings on Feb 11, 2020. The Zacks Consensus Estimate for the quarter to be reported stands at a loss of 9 cents per share.

Equinor ASA EQNR is scheduled to release fourth-quarter earnings on Feb 6, 2020. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at 37 cents per share.

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