Carbonate fuel cell technology developer FuelCell Energy (NASDAQ: FCEL) will be announcing earnings results this Wednesday before market open. Here’s what you need to know.
FuelCell Energy missed analysts’ revenue expectations last quarter, reporting revenues of $35.59 million, down 4.9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is FuelCell Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting FuelCell Energy’s revenue to decline 16.2% year on year, a reversal from the 97.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. FuelCell Energy has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at FuelCell Energy’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 166%, beating analysts’ expectations by 27.7%, and Sunrun reported revenues up 52.8%, topping estimates by 19.2%. Bloom Energy traded down 1.9% following the results while Sunrun was also down 10.6%.
Read our full analysis of Bloom Energy’s results here and Sunrun’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the renewable energy stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.8% on average over the last month. FuelCell Energy is down 19.5% during the same time and is heading into earnings with an average analyst price target of $22.83 (compared to the current share price of $17.18).
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