Published on 19 Dec 2023 on GuruFocus.com via Yahoo Finance
FuelCell Energy Inc (FCEL) Reports Mixed Fiscal Year 2023 Results Amidst Strategic Growth Efforts
Net loss per share improved by 31% year-over-year.Gross loss decreased by 64% for the fiscal year, indicating cost management efforts.Backlog decreased by approximately 5.7% to $1.028 billion as of October 31, 2023.Cash, restricted cash, and short-term investments totaled $403.3 million as of October 31, 2023.
On December 19, 2023, FuelCell Energy Inc (NASDAQ:FCEL) released its 8-K filing, reporting financial results for its fourth quarter and fiscal year ended October 31, 2023. The company, a leader in decarbonizing power and producing hydrogen through its proprietary fuel cell platforms, has faced a challenging year with a mix of strategic achievements and financial setbacks.