FuelCell Energy Reports Third Quarter 2014 Results and Business Highlights
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Cowen Offers Initial Thoughts on FuelCell (FCEL) Following Q3 Report
September 9, 2014 9:26 AM EDTCowen and Company comments on FuelCell Energy (Nasdaq: FCEL) following Q3 results. The firm has FuelCell with an Outperform rating and $3 price target.
Analyst Jeffrey Osborne commented, FuelCell Energy reported revenue of $43.2 million, below our and street estimates of $56.4 and $53.6 million, respectively. Gross margin came in at a record 9.2%, just... More
FuelCell Energy (FCEL) Will Sell University of Bridgeport Plant Project to NRG Energy (NRG)
September 9, 2014 8:33 AM EDTFuelCell Energy (Nasdaq: FCEL) announced an agreement to sell its previously announced 1.4 megawatt fuel cell power plant project at the University of Bridgeport to NRG Energy (NYSE: NRG). The ownership of the project will transfer to NRG Energy upon substantial completion of construction and is also subject to customary closing conditions. The University of Bridgeport will buy the electricity and heat produced by the fuel cell power plant under a multi-year power purchase agreement (PPA). FuelCell Energy developed the project and is currently in the process of building the... More
FuelCell Energy (FCEL) Peers on Watch Following Q3 Results (BLDP) (PLUG)
September 9, 2014 7:49 AM EDTPlug Power (Nasdaq: PLUG) and Ballard Power (Nasdaq: BLDP) are on watch Tuesday following quarterly results from segment peer FuelCell Energy (Nasdaq: FCEL).
Ahead of the bell Tuesday, FuelCell... More
FuelCell Energy (FCEL) Reports In-Line Q3 Loss of 3c/Share
September 9, 2014 6:38 AM EDTFuelCell Energy (NASDAQ: FCEL) reported Q3 EPS of ($0.03), in-line with the analyst estimate of ($0.03). Revenue for the quarter came in at $43.18 million versus the consensus estimate of $53.64 million.
Total backlog increased to $350.2 million at July 31, 2014 compared to $342.8 million at April 30, 2014.
Product sales backlog was $137.3 million and 82.1 megawatts at July 31, 2014. Product backlog decreased $9.4 million sequentially with kit shipments to Asia exceeding new orders in North America although the composition of product backlog is transitioning to higher margin complete power plants with recent order announcements.Service backlog was $201.8 million at July 31, 2014. Service backlog... More