FuelCell Energy up ~3.5% (premarket) post Q4 results

|About: FuelCell Energy, Inc. (FCEL)|By:, SA News Editor

FuelCell Energy (NASDAQ:FCEL) is up ~3.5% in premarket after the company reports Q4 revenues beat.

Product sales were $9.4M, compared to $39.9M last year; the company says that the difference is primarily due to 2017 revenue include partial delivery under a 20 MW order to South Korea, as compared to the sale of the Trinity College fuel cell project to AEP Onsite Partners in Q4 18.

Overall gross margin declines ~20bps to 6.4%; reports  operating loss of $11.9M as compared to $8.2M last year; EBITDA loss was $8.8M vs. $5.0M.

Backlog and project awards stood at ~$2B; first of three Long Island Power Authority PPAs executed; Connecticut project awards of 22.2 MW now under PPA

In December secured over $100M construction financing

Previously: FuelCell Energy misses by $0.01, beats on revenue (Jan. 10)

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