Carbonate fuel cell technology developer FuelCell Energy (NASDAQ:FCEL) will be reporting earnings tomorrow before the bell. Here’s what to expect.
FuelCell Energy beat analysts’ revenue expectations by 6.8% last quarter, reporting revenues of $22.42 million, down 41.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ backlog sales estimates.
Is FuelCell Energy a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting FuelCell Energy’s revenue to decline 11.6% year on year to $22.54 million, improving from the 40.8% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FuelCell Energy has missed Wall Street’s revenue estimates four times over the last two years.
Looking at FuelCell Energy’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Sunrun’s revenues decreased 11.2% year on year, beating analysts’ expectations by 1.2%, and American Superconductor reported revenues up 33.2%, topping estimates by 2.4%. Sunrun traded up 11.2% following the results while American Superconductor was down 9.4%.
Read our full analysis of Sunrun’s results here and American Superconductor’s results here.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. FuelCell Energy is down 21.8% during the same time and is heading into earnings with an average analyst price target of $1.3 (compared to the current share price of $0.38).
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