FuelCell Energy (NASDAQ:FCEL) Posts Earnings Results, Misses Expectations By $0.01 EPS

FuelCell Energy (NASDAQ:FCEL) announced its quarterly earnings data on Monday. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01), FiscalAI reports. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 16.40%. The business had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. During the same period last year, the company posted ($1.79) EPS.

Here are the key takeaways from FuelCell Energy’s conference call:

• FuelCell Energy said demand tied to AI, digital infrastructure, and high-density data centers is driving a sharp increase in interest for its behind-the-meter baseload power solutions. The company’s submitted proposal pipeline rose to 4 GW, with data center customers representing about 89% of the pipeline.
• The company introduced a 12.5 MW standardized “FuelCell Energy Block” designed to speed deployment and improve economics for large customers. Management said the product is resonating with data center buyers because it supports phased scaling and can help reduce time to power.
• FuelCell Energy is increasing planned manufacturing capacity at Torrington from 350 MW to 500 MW annually, with total expansion costs expected to be $200 million to $275 million. Management emphasized the buildout will be paced with contracted backlog, market demand, and financing support rather than ahead of demand.
• Second-quarter revenue was $35.6 million, down 5% year over year, while operating loss widened to $77.9 million due largely to a $42.6 million non-cash impairment tied to the Groton project. Net loss attributable to common stockholders was $78.7 million, or $1.45 per share.
• The company ended the quarter with $440.9 million in total cash and equivalents and remains essentially debt-free aside from project-specific financing. Adjusted EBITDA improved to negative $17.1 million from negative $19.3 million a year ago, and management reiterated its target of adjusted EBITDA positive once production reaches about 100 MW annually.

FuelCell Energy Trading Up 12.8%

Shares of FCEL opened at $17.49 on Wednesday. The stock has a market capitalization of $926.62 million, a P/E ratio of -2.66 and a beta of 2.42. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $14.31 and a two-hundred day simple moving average of $10.06. FuelCell Energy has a twelve month low of $3.78 and a twelve month high of $27.69.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in FuelCell Energy by 75.4% during the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after buying an additional 647,151 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in FuelCell Energy during the 4th quarter valued at $329,000. Oxford Asset Management LLP purchased a new stake in FuelCell Energy during the 4th quarter valued at $139,000. Millennium Management LLC boosted its position in FuelCell Energy by 140.6% during the 4th quarter. Millennium Management LLC now owns 319,764 shares of the energy company’s stock valued at $2,337,000 after buying an additional 186,878 shares during the period. Finally, Engineers Gate Manager LP boosted its position in FuelCell Energy by 676.6% during the 4th quarter. Engineers Gate Manager LP now owns 88,908 shares of the energy company’s stock valued at $650,000 after buying an additional 77,460 shares during the period. Hedge funds and other institutional investors own 42.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FCEL shares. Canaccord Genuity Group upped their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley Financial upped their price objective on shares of FuelCell Energy from $8.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen reaffirmed a “hold” rating and issued a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday. Wells Fargo & Company cut their price objective on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, March 10th. Finally, Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $13.24.

FuelCell Energy News Summary

Here are the key news stories impacting FuelCell Energy this week:

• Positive Sentiment: Canaccord Genuity raised its price target on FCEL from $12 to $30 and reiterated a Buy rating, pointing to roughly 71.5% upside from the recent price level. Canaccord Upgrades FuelCell Energy (FCEL) to Buy
• Positive Sentiment: Investors are reacting to FuelCell’s claim that data centers make up nearly 90% of its sales pipeline, with the company now saying its pipeline has reached 4 GW and that it is expanding manufacturing capacity to meet expected demand. These Analysts Boost Their Forecasts On FuelCell Energy Following Q2 Results
• Positive Sentiment: Options activity has been unusually strong, with investors buying a large volume of FCEL call options, suggesting some traders are positioning for more upside. Investors Purchase High Volume of Call Options on FuelCell Energy (NASDAQ:FCEL)
• Neutral Sentiment: B. Riley also lifted its price target, but only to $13 and kept a Neutral rating, which implies downside versus the recent trading level. Benzinga analyst update on FuelCell Energy
• Negative Sentiment: The latest quarter disappointed on earnings and revenue, with FCEL posting a wider-than-expected loss and missing sales estimates, which initially pressured the stock. FuelCell Energy Reports Second Fiscal Quarter 2026 Results; Advances Data Center Power Strategy
• Negative Sentiment: Analysts and media also highlighted widening operating losses, declining revenue, and other weak quarterly metrics, keeping some pressure on the shares despite the upbeat pipeline story. Why FuelCell Energy (FCEL) stock is down today

About FuelCell Energy

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.