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ACCESSWIRE
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Active-Investors: Free Post Earnings Research Report: FuelCell's Revenue Soared 95.5%; Net Loss Narrowed

LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors.com has just released a free earnings report on FuelCell Energy, Inc. (NASDAQ: FCEL) ("FuelCell"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=FCEL. FuelCell reported its fourth quarter fiscal 2017 operating and financial results on January 11, 2018. The fuel cell power plant maker surpassed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, FuelCell Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=FCEL

Earnings Highlights and Summary

FuelCell reported total revenues for Q4 2017 of $47.9 million, up 95.5% compared to revenues of $24.5 million for Q4 2016. The Company's revenue numbers topped analysts' estimates of $25 million.

During Q4 2017, FuelCell's product sales soared 375.0% to $39.9 million compared to $8.4 million for Q4 2016. The increase primarily reflected partial deliveries under a 20-megawatt (MW) order to a South Korean construction Company for a utility project, to be owned by Korea Southern Power Company, with deliveries beginning in Q4 2017 and concluding in Q1 2018.

For Q4 2017, FuelCell Service agreements and license revenue totaled $2.7 million compared to $10.7 million for Q4 2016. The difference in revenue between the periods reflected the timing of scheduled module replacements under service agreements. The Company's Generation revenue totaled $1.8 million in the reported quarter compared to $0.7 million for the year ago same period. The increase reflected growth in the generation portfolio with 11.2 MW operating as of October 31, 2017.

During Q4 2017, FuelCell's Advanced technologies contract revenue totaled $3.5 million compared to $4.7 million for Q4 2016, with the decline in revenue attributed to the timing of project milestones under existing contracts.

FuelCell's gross profit generated in Q4 2017 totaled $3.2 million and the gross margin for the reported quarter was 6.6% compared to a gross loss of $0.5 million and a negative gross margin of 1.9% for the year earlier same quarter. The Company's operating expenses for Q4 2017 totaled $11.3 million, unchanged on a y-o-y basis.

FuelCell's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the reported quarter totaled negative $5.0 million. The Company's capital spending was $1.9 million in Q4 2017, and depreciation expense came in at $2.0 million, including depreciation of property, plant and equipment as well as Project assets.

FuelCell's net loss attributable to common stockholders for Q4 2017 totaled $10.8 million, or $0.17 per basic and diluted share, compared to $13.7 million, or $0.41 per basic and diluted share, for Q4 2016. The Company's net loss was better than Wall Street's estimates for a loss of $0.22 per share.

Backlog and Project Awards

As of October 31, 2017, FuelCell had a contract backlog totaling approximately $554.2 million compared to $432.3 million as of October 31, 2016. The Company's Services backlog totaled $182.3 million as of October 31, 2017, compared to $204.8 million as of October 31, 2016.

FuelCell's Generation backlog totaled $296.3 million as of October 31, 2017, compared to $142.5 million as of October 31, 2016, and represented future contracted energy sales under contracted power purchase agreements between the Company and the end-user of the power. Product sales backlog totaled $31.3 million as of October 31, 2017, compared to $24.9 million as of October 31, 2016. The increase relates to the 20 MW Korean utility order that the Company is currently executing. Advanced technologies contracts backlog totaled $44.3 million as of October 31, 2017, compared to $60.1 million as of October 31, 2016.

Cash, restricted cash, and borrowing ability

FuelCell's cash, cash equivalents, restricted cash, and borrowing ability under the NRG Energy revolving project financing facility totaled $127.4 million as of October 31, 2017. The Company had total cash of $87.4 million, including $49.3 million of unrestricted cash and cash equivalents and $38.1 million of restricted cash and $40.0 million of borrowing ability under the NRG Energy revolving project financing facility.

Project Assets

FuelCell's long-term project assets totaled $73.0 million as of October 31, 2017, consisting of five projects totaling 11.2 megawatts plus costs incurred to date for an additional 19.5 megawatts of earlier announced projects that are under various stages of construction.

Stock Performance Snapshot

January 18, 2018 - At Thursday's closing bell, FuelCell Energy's stock dropped 2.62%, ending the trading session at $1.86.

Volume traded for the day: 1.21 million shares.

Stock performance in the previous six-month period - up 31.91%; past twelve-month period - up 6.29%; and year-to-date - 9.41%

After yesterday's close, FuelCell Energy's market cap was at $133.01 million.

The stock is part of the Utilities sector, categorized under the Diversified Utilities industry.

Active-Investors:

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A-I has not been compensated; directly or indirectly; for producing or publishing this document.

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The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

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SOURCE: Active-Investors

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