FuelCell Energy Stock Surges After Q3 Beat

FuelCell Energy Inc FCEL reported third-quarter FY21 revenue growth of 43% year-over-year to $26.82 million, beating the consensus of $20.69 million.
EPS improved to $(0.04) from $(0.07) in 3Q20, beating the consensus of $(0.05).
Revenues by segments: Service agreements and license $14.34 million (101.7% Y/Y), Generation $6.23 million (+31.9% Y/Y), and Advanced Technologies $6.25 million (-9.4% Y/Y).
The company reported a gross profit of $1.1 million versus $(3.13) million last year. The margin stood at 4.1%.
Loss from operations reduced slightly to $(10.58) million, from $(10.76) million a year ago.
Adjusted EBITDA loss narrowed to $(5.17) million.
FuelCell Energy's backlog decreased 2.2% Y/Y to $1.30 billion as of July 31, 2021.
FuelCell Energy held cash and equivalents of $494 million as of July 31, 2021.
Price Action: FCEL shares are trading higher by 26.84% at $7.13 on the last check Tuesday.

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