FuelCell Energy posts $2.24 million revenue in Q2

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FuelCell Energy posts $2.24 million revenue in Q2

The share of FuelCell Energy Inc. is down 3.25% on Friday to $2.24. The revenue surge was attributed to long-term service agreements, particularly related to the completion of new module exchanges at the plant owned by Korea Southern Power Company KOSPO in Korea during the quarter.

The company also revealed an EPS loss of 9 cents, more than the 8 cent loss reported in the second quarter of 2022, falling short of the consensus estimate of a loss of 7 cents.

In the second quarter of the year, the operating loss increased to $35.86 million compared to a loss of $28.22 million in the previous year, while the adjusted EBITDA loss increased to $26.03 million from a loss of $21.18 million in the second quarter of 2022.

FCEL had a 52-week high of $5.50 and a 52-week low of $1.77, according to data from Benzinga Pro.