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FuelCell reported a fiscal second-quarter loss that was wider than Wall Street estimates.
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FuelCell Energy
reported fiscal second-quarter revenue that was more than double a year earlier but a loss slightly wider than Wall Street’s expectations.
FuelCell
(ticker: FCEL) reported a second-quarter loss of 9 cents a share on revenue of $38.3 million. Last year, the company posted a loss of 8 cents a share on revenue of $16.4 million.
Analysts surveyed by FactSet were expecting
FuelCell
,
the fuel cell technology and hydrogen production company, to report a loss of 8 cents a share on revenue of $25.5 million.
“Revenue growth in the quarter was largely driven by revenues from long-term service agreements, primarily relating to the new module exchanges at the plant owned by
Korea Southern Power
Company in Korea that were completed during the quarter,” Chief Executive Jason Few said in the earnings report.
Shares of FuelCell were falling 5% in premarket trading Thursday to $2.26. Coming into the session, the stock has fallen 14% this year.
Write to Angela Palumbo at [email protected]
Source: https://www.barrons.com/articles/fuelcell-energy-stock-earnings-cb059d2a?siteid=yhoof2&yptr=yahoo