Carbonate fuel cell technology developer FuelCell Energy (NASDAQ: FCEL) will be reporting results this Tuesday morning. Here’s what to look for.
FuelCell Energy beat analysts’ revenue expectations by 14.4% last quarter, reporting revenues of $37.41 million, up 66.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is FuelCell Energy a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting FuelCell Energy’s revenue to grow 109% year on year to $49.58 million, a reversal from the 7.1% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.63 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FuelCell Energy has missed Wall Street’s revenue estimates four times over the last two years.
Looking at FuelCell Energy’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3.4%, and Sunrun reported revenues up 8.7%, topping estimates by 4%. Generac traded up 28.9% following the results while Sunrun was also up 33.2%.
Read our full analysis of Generac’s results here and Sunrun’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 6.1% on average over the last month. FuelCell Energy’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $7.38 (compared to the current share price of $4.04).
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