FuelCell Shares Drop Amid Wider Loss Despite First Data Center Reservation Deal
FuelCell Energy's stock fell by 13% following its Q3 fiscal 2026 earnings report, which revealed a wider-than-expected loss driven largely by a $17 million charge related to Fit Energy. The company reported revenue of $33 million and a per-share loss of $0.64, both below expectations. Despite securing its first data center reservation agreement for a 75 MW project in Texas, the financial setbacks overshadowed this milestone. FuelCell's Committed Backlog increased to $1.3 billion as of July 31, with total backlog reaching $3.6 billion after Fit Energy added an option for up to 350 MW. The company is expanding its manufacturing capacity in Torrington, Connecticut, aiming for a production rate of 100 MW by October 2026 and 500 MW annually by June 2028. Bloom Energy shares slipped slightly while Plug Power remained nearly unchanged. FuelCell's cash reserves stood at $737.3 million as it continues to work toward positive adjusted EBITDA, which is not expected until Q4 fiscal 2027.
Topics: data_center_deal fuel_cell_energy hydrogen_sector loss_widening