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Free Research Report as FuelCell’s Quarterly Revenue Soared 127%

LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free earnings report on FuelCell Energy, Inc. (NASDAQ: FCEL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FCEL. FuelCell Energy reported its first quarter fiscal 2018 operating and financial results on March 08, 2018. The fuel cell power plant maker reported better than expected results. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, FuelCell Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=FCEL

Earnings Highlights and Summary

FuelCell reported total revenues for the first quarter of 2018 soared 127% to $38.6 million compared to $17.0 million for Q1 FY17. The Company's reported numbers topped analysts' estimates by $6.33 million.

During Q1 FY18, FuelCell's gross profit generated totaled $4.6 million and the gross margin was 12.0% compared to $1.8 million generated in Q1 FY17 with a gross margin of 10.7%. The Company's operating expenses were $10.2 million in the reported quarter compared to $12.7 million for the prior year's same quarter.

FuelCell's net loss attributable to common stockholders totaled $8.4 million, or $0.12 per diluted share, for Q1 FY18 compared to $14.5 million, or $0.39 per diluted share, for Q1 FY17. The Company's results included a deemed dividend totaling $3.5 million on the Series C preferred shares for the reported quarter. FuelCell also recorded an income tax benefit totaling $3.0 million for Q1 FY18, related to the Tax Cuts and Jobs Act (Act) that was enacted on December 22, 2017. The Company's results for the reported quarter were better than Wall Street's estimates for a loss of $0.20 per share.

For Q1 FY18, FuelCell's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA), totaled negative $2.8 million compared to negative $6.5 million in Q1 FY17.

FuelCell Energy's Segment Results

During Q1 FY18, Product sales totaled $29.5 million compared to $1.8 million for Q1 FY17. The increase is primarily a result of the completion of deliveries under a 20 megawatts order for a utility project to be owned by Korea Southern Power Co.

For Q1 FY18, the Service and License revenue totaled $4.1 million compared to $6.9 million for Q1 FY17. The difference between the periods was primarily due to the lower number of scheduled module replacements under the Company's service agreements in the reported quarter.

During Q1 FY18, the Generation segment's revenue came in at $1.9 million versus $2.1 million for Q1 FY17. The Company's advanced technologies contract revenue totaled $3.1 million for the reported quarter compared to $6.2 million for the prior year's same quarter. Revenue was lower for the first quarter of 2018 primarily due to the timing of project milestones under existing contracts.

Backlog and Project Awards

As of January 31, 2018, FuelCell had a contract backlog totaling approximately $638.5 million compared to $437.3 million as of January 31, 2017. The Company's Services backlog totaled $178.7 million as of January 31, 2018, compared to $199.8 million as of January 31, 2017. Services backlog included future contracted revenue from routine maintenance and scheduled module exchanges for power plants under service agreements.

As of January 31, 2018, FuelCell's Generation backlog totaled $414.5 million compared to $169.9 million as of January 31, 2017. Generation backlog represents future contracted energy sales under contracted power purchase agreements between the Company and the end-user of the power. FuelCell's Product sales backlog totaled $2.2 million as of January 31, 2018, compared to $13.5 million as of January 31, 2017. Product sales backlog primarily consists of the remaining scope of work on the 20 megawatts Korean utility order.

FuelCell's advanced technologies contracts backlog totaled $43.1 million as of January 31, 2018, compared to $54.1 million as of January 31, 2017.

Cash Matters

As of January 31, 2018, FuelCell's cash, cash equivalents, restricted cash, and borrowing ability under the NRG Energy revolving project financing facility totaled $155.4 million.

Project Assets

FuelCell's long-term project assets totaled $75.8 million as of January 31, 2018, consisting of five projects totaling 11.2 megawatts plus costs incurred to date for an additional 21.7 megawatts of previously announced projects that are under various stages of construction.

Stock Performance Snapshot

April 18, 2018 - At Wednesday's closing bell, FuelCell Energy's stock climbed 1.96%, ending the trading session at $2.08.

Volume traded for the day: 784.51 thousand shares.

Stock performance in the last month – up 12.43%; previous three-month period – up 8.90%; past twelve-month period – up 36.39%; and year-to-date – up 22.35%

After yesterday's close, FuelCell Energy's market cap was at $172.31 million.

The stock is part of the Utilities sector, categorized under the Diversified Utilities industry.

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