FCEL
FuelCell Energy, Inc.8.47
+0.11+1.32%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A details pipeline, milestones.
Q&A clarified the path from 1.5 GW proposals—mostly U.S. data centers at 50-300 MW—to backlog via technical reviews and contract talks, with active negotiations underway. Management quantified absorption chillers' appeal, showing $127M added value over 20 years for a 100 MW site by cutting cooling power 20-30%. Rotterdam carbon capture modules ship soon for flue gas integration demo, proving low-CO2 capture plus power, hydrogen, thermal. Torrington run rate dipped seasonally but targets 40-41 MW now, 100 MW for positive adjusted EBITDA. No service pushback; grid as parallel power. Pipeline advances deliberately. Q&A adds execution color.
Key Stats
Market Cap
403.82MP/E (TTM)
-Basic EPS (TTM)
-9.49Dividend Yield
0%Recent Filings
10-Q
Q1 FY2026 results
FuelCell Energy posted Q1 FY2026 revenues of $30.5M, up 61% y/y from $19.0M, driven by $12.0M product sales to South Korea (47% of total, vs $0.1M prior year) while service edged to 11.5% gross margin. Gross loss narrowed to $5.9M from $5.2M as product margins improved sharply, yet operating loss held at $26.3M (down from $32.9M) on lower admin/selling ($13.5M vs $15.0M) and R&D ($7.0M vs $11.1M) after restructuring. Diluted EPS loss of $0.49 beat $1.42 y/y, confirmed vs 48.2M shares (anti-dilutive). Cash swelled to $311.8M (up from $278.1M q/q) via $54.9M equity raise and $25.0M EXIM debt at 5.29% (7-year term), total debt $138.2M; op cash use eased to $33.9M from $45.7M, no FCF as capex minor. Solid backlog funds runway. Fuel price swings threaten project margins.
8-K
Q1 revenue surges 61%
FuelCell Energy reported Q1 fiscal 2026 revenue of $30.5 million, up 61% year-over-year, driven by product sales from Korean LTSAs with GGE and CGN, yet gross loss widened slightly to $(5.9) million amid manufacturing variances. Operating loss narrowed 20% to $(26.3) million on lower R&D and admin costs post-restructuring; cash swelled to $379.6 million via stock sales and EXIM debt. Backlog dipped 10.8% to $1.17 billion, but data center push delivered 1.5 GW proposals and SDCL pact for 450 MW. Pipeline conversion lags.
8-K
Dolger separation finalized
FuelCell Energy finalized a separation agreement on February 3, 2026, with former EVP, General Counsel Joshua Dolger, whose employment ended January 6 without cause. He receives $398,494 severance over 12 months, accelerated vesting of 44,911 RSUs, pro rata PSUs, $231,011 FY2025 incentive, and 12 months COBRA. Clean exit. Benefits hinge on release and non-compete compliance.
8-K
FuelCell swaps GC Dolger for Schreiber
FuelCell Energy ended Joshua Dolger's tenure as EVP, General Counsel, and Corporate Secretary without cause effective January 6, 2026, while appointing Amanda J. Schreiber—ex-ContourGlobal GC—to the role starting January 12. Her deal packs $470,000 base, 60% target bonus, and $750,000 FY26 incentives. Smooth transition. Separation terms for Dolger pending.
8-K
Amends stock sales pact
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