FuelCell Energy Inc. (NASDAQ:FCEL) posted a sharp revenue jump in its fiscal third quarter, nearly doubling year over year, as stronger product and service sales offset weakness in other divisions and lifted investor sentiment despite ongoing losses and cash burn.
JPMorgan analyst Mark Strouse reiterated an Underweight rating on FuelCell Energy, which reported fiscal third-quarter results that largely matched Wall Street expectations.
Strouse said product revenue of $26 million slightly beat forecasts, boosted by eight module shipments to GGE, while weaker contributions from Generation and Advanced Technologies were offset by stronger service revenue.
Also Read: Insights into FuelCell Energy’s Upcoming Earnings
On the commercial front, FuelCell signed a non-binding MOU with Inuverse to explore up to 100 MW of capacity beginning in 2027, along with a 10 MW repowering agreement …