FuelCell Energy Reports Disappointing Q2 Results; Shares Plunge 10.7%
FuelCell Energy, Inc. (FCEL) reported disappointing quarterly
results mainly due to a decline in fuel prices and service
agreements. Shares plunged 10.7% to close at $10.06 on June 10.
FuelCell Energy designs, manufactures, operates, and services
Direct Fuel Cell power plants that run on natural gas and
biogas. The company reported a loss of $0.06 per share, worse
than the Street’s estimated loss of $0.05 per share, but better
than the loss reported in prior-year quarter of $0.07 per share.
Revenue came in at $13.95 million, down 26% from the prior-year
quarter due to a decline of $6.3 million worth of service
agreements and license revenues.