NASDAQ$FCEL
FuelCell Energy Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
FuelCell Energy's financial performance declined in Q3 2023, with revenue decreasing due to lower product sales and increased gross and operating losses.
FuelCell Energy reported a decrease in revenue for the third quarter of fiscal year 2023, primarily due to lower product revenues. The company's gross loss and loss from operations also increased compared to the same period in the previous year. However, they completed the commissioning of the Toyota Long Beach project and extended their Joint Development Agreement with ExxonMobil.
- Revenues decreased to $25.5 million compared to $43.1 million year-over-year, mainly due to a lack of module sales to Korea Fuel Cell Co., Ltd.
- Gross loss worsened to $(8.2) million from $(4.2) million in the prior year.
- Operating loss increased to $(41.4) million compared to $(28.0) million year-over-year.
- Net loss per share improved to $(0.06) from $(0.08) year-over-year.
Headline financials
Revenue & EPS history
FuelCell Energy · Revenue · Quarterly
$25.5M
Revenue by segment
FuelCell Energy · $15.7M total across 2 segments · Q3 2023
- Generation$11M+1.0%70.1%
- Advanced Technologies$4.69M-9.5%29.9%
Forward guidance
FuelCell Energy is focused on executing its strategy, proving its technologies, and supporting decarbonization globally, with strong demand for clean energy technologies and government policy support creating significant market potential.
Tailwinds
- Completed commissioning of the Toyota Long Beach project.
- Tri-gen platform is producing power, water, and hydrogen.
- Extended Joint Development Agreement with ExxonMobil through March 2024.
- Projects in Derby, Connecticut are advancing on schedule with commercial operations expected in Q4 2023.
- Expanded presence in the Korean market with long-term service agreements.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
-2.8%
Avg return
Earnings day
-3.4%
Avg return
5 days after
-5.7%
Avg return
30 days after
30%
20 / 67 earnings
Positive
+29.6%
Q1 2020
Best reaction
-38.9%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -10.4% | -2.1% | — | |
| Q1 2026 | -2.9% | -12.8% | -15.7% | |
| Q4 2025 | +22.5% | +11.3% | +1.8% | |
| Q3 2025 | +23.3% | +62.8% | +134.1% | |
| Q2 2025 | +0.0% | +0.8% | -12.9% | |
| Q1 2025 | +3.6% | -2.4% | -38.4% | |
| Q4 2024 | +6.1% | +5.7% | -2.3% | |
| Q3 2024 | +6.4% | +4.9% | -14.6% | |
| Q2 2024 | +6.1% | -5.7% | -31.0% | |
| Q1 2024 | -7.4% | -13.1% | -7.4% | |
| Q4 2023 | -5.2% | +7.8% | -25.5% | |
| Q3 2023 | -6.3% | -13.9% | -4.9% | |
| Q2 2023 | -2.1% | +17.2% | -12.6% | |
| Q1 2023 | -6.1% | -5.2% | -27.6% | |
| Q4 2022 | -17.2% | -18.1% | -4.0% | |
| Q3 2022 | +6.3% | +3.3% | -22.1% | |
| Q2 2022 | -7.6% | -18.4% | +6.1% | |
| Q1 2022 | +6.2% | -7.1% | -14.7% | |
| Q4 2021 | -9.2% | -1.5% | -37.3% | |
| Q3 2021 | +9.3% | +16.5% | +28.5% | |
| Q2 2021 | -6.1% | -18.3% | -28.6% | |
| Q1 2021 | -7.8% | -12.1% | -43.3% | |
| Q4 2020 | +8.2% | +29.1% | +20.6% | |
| Q3 2020 | -17.5% | -8.0% | -0.4% | |
| Q2 2020 | -0.4% | -7.5% | +20.4% | |
| Q1 2020 | +29.6% | +6.1% | +33.9% | |
| Q4 2019 | -38.9% | -46.5% | -12.5% | |
| Q3 2019 | +6.0% | +0.0% | -22.5% | |
| Q2 2019 | -13.5% | -44.4% | -16.7% | |
| Q1 2019 | -12.7% | -16.7% | -35.4% | |
| Q4 2018 | -6.8% | +0.0% | -19.6% | |
| Q3 2018 | -6.7% | -11.7% | -13.3% | |
| Q2 2018 | -8.9% | -4.7% | -27.1% | |
| Q1 2018 | +6.4% | +5.3% | +5.3% | |
| Q4 2017 | +7.0% | +5.4% | -10.8% | |
| Q3 2017 | -0.7% | +0.0% | +50.7% | |
| Q2 2017 | +1.9% | +5.6% | +15.7% | |
| Q1 2017 | -6.7% | -10.0% | +6.7% | |
| Q4 2016 | -2.6% | -7.7% | -23.1% | |
| Q3 2016 | -0.2% | -3.4% | -1.7% | |
| Q2 2016 | -19.7% | -29.0% | -24.8% | |
| Q1 2016 | -3.1% | — | — | |
| Q4 2015 | -14.5% | — | — | |
| Q3 2015 | +6.3% | — | — | |
| Q2 2015 | -5.7% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | -6.9% | — | — | |
| Q2 2014 | -9.1% | — | — | |
| Q1 2014 | -7.1% | — | — | |
| Q4 2013 | -20.8% | — | — | |
| Q3 2013 | +10.6% | — | — | |
| Q2 2013 | -0.7% | — | — | |
| Q1 2013 | -5.8% | — | — | |
| Q4 2012 | -4.8% | — | — | |
| Q3 2012 | -11.3% | — | — | |
| Q2 2012 | -15.9% | — | — | |
| Q1 2012 | +4.1% | — | — | |
| Q4 2011 | -1.8% | — | — | |
| Q3 2011 | -4.9% | — | — | |
| Q4 2010 | -4.9% | — | — | |
| Q4 2009 | -4.9% | — | — | |
| Q2 2011 | -5.4% | — | — | |
| Q1 2011 | +6.7% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q2 2010 | -9.2% | — | — | |
| Q1 2010 | -5.2% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro