<p>FuelCell Energy (NASDAQ: FCEL) earnings for the third quarter fiscal year 2020 have FCEL shares hitting on Thursday. This despite its adjusted losses per share of 7 cents, which only missed the analysts’ estimates by a penny. However, the company’s revenue of $ 18.73 million blew analysts’ estimates at $ 16.05 million.
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In addition, the company also reported base losses per share of 7 cents.
Here’s what’s worth mentioning from the latest FuelCell Energy earnings report.
Adjusted losses per share are 61% better than losses of 18 cents in the same period the year before. Revenue for the quarter was 18% lower than $ 22.71 million in the third quarter of 2019. Operating profit of $ 10.76 million is 906% worse than the previous year than the loss of $ 1.07 million last year. The FuelCell Energy earnings report also includes a net loss of $ 15.33 million. This is 189% worse than the company’s net loss of $ 5.31 million reported during the same period last year.
Jason Few, President and CEO of FuelCell Energy, said this about FCEL share income:
“Our results for the quarter focused on our continued implementation of projects in our backlog, growing our sales pipeline of opportunities and a continued emphasis on efficient management of operating costs while placing our company for growth … I am extremely proud of our employees’ commitment to what has been a difficult period globally, each of us has suffered from pandemics and related suspensions and social distancing mandates. ”
The FuelCell Energy Performance Report does not mention FY2020 guidelines. Still, we know what Wall Street appreciates. Analysts demand adjusted earnings per share of 40 cents on revenue of $ 68.7 million.
The FCEL share decreased by 16% as of Thursday morning.
At the time of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is the web editor at InvestorPlace.