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FuelCell Energy -10% after Q2 earnings miss expectations

Jun. 07, 2018 3:59 PM ETFuelCell Energy, Inc. (FCEL) StockFCELBy: Carl Surran, SA News Editor
  • FuelCell Energy (FCEL -9.6%) tumbles nearly 10% after posting a larger than expected Q2 loss on a 2% Y/Y increase in revenues to $20.8M
  • Q2 gross margin came in at -3% compared to a gross margin of 1.9% for the year-ago quarter, hurt by an under-absorption of fixed overhead costs due to low production volumes; annualized Q2 production rate was 25 MW, vs. 35 MW in the same quarter a year ago.
  • FCEL's contracted backlog totaled a record $682M as of April 30.

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