Fluence Energy Cuts Full-Year Guidance, Sending Stock Down Over 65%
Fluence Energy (FLNC) significantly reduced its full-year revenue guidance from $3 billion to $2.4 billion due to ongoing manufacturing and supply chain issues. The company also anticipates adjusted EBITDA losses of around $200 million, driven by delays in scaling up production at its Houston facility. These setbacks have postponed hundreds of millions worth of deliveries into next year. In response, BNP Paribas lowered its price target for FLNC stock to $5 and assigned an 'Underperform' rating due to concerns over the company's cash flow and high burn rate. The firm warned that continued operational bottlenecks could further strain Fluence Energy’s financial flexibility. Despite a technical oversold condition suggesting potential short-term recovery, analysts expect downward revisions in Wall Street estimates as they incorporate management's revised outlook. The stock has fallen more than 65% from its year-to-date high following the selloff on Sept. 17.
Tickers: $FLNC