FuelCell Energy Reports Q3 Earnings with Revenue Decline and Manufacturing Expansion Plans
FuelCell Energy (FCEL) reported a revenue decline of $14.7 million in the third quarter, totaling $33 million compared to $46.7 million in the prior year period. The drop was attributed to fewer module deliveries to South Korea and lower output from its generation portfolio. Despite this, the company maintained strong liquidity with total cash reserves rising to $737.3 million as of July 2026. The firm highlighted a significant backlog of $3.6 billion in projects, including both committed and awarded capacity orders. FuelCell also announced new agreements such as Fit Energy's multi-phase project totaling up to 380 megawatts and a Texas data center reservation for 75 megawatts. The company aims to increase its production rate from approximately 37 megawatts in Q3 to 100 megawatts by October 2026, with an ultimate goal of reaching 500 megawatts annually by June 2028.
Tickers: $FCEL
Topics: agreements backlog cash_and_liquidity net_loss_per_share revenue