FuelCell Energy (FCEL) Reports Q3 Loss of $0.07/sh

FuelCell Energy (NASDAQ: FCEL) reported Q3 EPS of ($0.07), versus ($0.18) reported last year. Revenue for the quarter came in at $18.7 million, versus $22.7 million reported last year.

• Backlog decreased to $1.33 billion as of July 31, 2020, reflecting the continued execution of our backlog, partially offset by an increase in Advanced Technologies backlog primarily as a result of the Joint Development Agreement with EMRE. Only projects for which we have an executed power purchase agreement (“PPA”) are included in generation backlog, which represents future revenue under long-term PPAs. Together, the service and generation portion of backlog had an average weighted term of approximately 18 years based on dollar backlog and utility service contracts of up to 20 years in duration at inception.
• Backlog represents definitive agreements executed by the Company and our customers. Projects sold to customers (and not retained by the Company) are included in product sales and service backlog and the related generation backlog is removed upon the sale.

For earnings history and earnings-related data on FuelCell Energy (FCEL) click here.

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