The earnings call for FuelCell Energy's second quarter of fiscal year 2025 highlighted significant revenue growth and strategic partnerships, indicating positive long-term prospects. However, the call also revealed ongoing challenges with net losses and production inefficiencies. While restructuring initiatives aim to address cost issues, immediate financial performance remains a concern.

Company Guidance -

Q3 2025

During the FuelCell Energy Second Quarter Fiscal 2025 Financial Results Conference Call, the company announced a restructuring plan aimed at accelerating the path to profitability by prioritizing sales of its molten carbonate platform and reducing operating expenses by 30% on an annualized basis, compared to fiscal year 2024. The restructuring involves global workforce reductions and a recalibration of the Torrington production schedule, which is currently operating at an annualized production rate of 31 megawatts but aims to align with contracted demands rather than forecasted ones. FuelCell Energy reported total revenues of $37.4 million, a significant increase from $22.4 million in the prior year, and a narrowed net loss of $38.8 million compared to $32.9 million in the second quarter of fiscal year 2024, with adjusted EBITDA at negative $19.3 million. The company is targeting positive adjusted EBITDA upon achieving a production rate of 100 megawatts per year at its Torrington facility, and continues to see opportunities in distributed power generation and data center markets through strategic partnerships like Dedicated Power Partners.

Revenue Growth

FuelCell Energy reported total revenues of $37.4 million for the second quarter of fiscal year 2025, a significant increase from $22.4 million in the comparable prior year quarter.

Strategic Partnership with Dedicated Power Partners

FuelCell Energy announced a strategic partnership with Dedicated Power Partners to accelerate the deployment of carbonate fuel cells, focusing on data centers and other large-scale applications.

Cost Reduction Initiatives

The company announced a restructuring plan expected to reduce operating expenses by 30% on an annualized basis compared to fiscal year 2024.

Backlog Increase

FuelCell Energy's backlog increased by approximately 18.7% to $1.26 billion compared to $1.06 billion as of April 30, 2024.

Fuelcell Energy (FCEL) Earnings, Revenues Date & History

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FCEL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 09, 2025	2025 (Q3)	-1.44 / -	-2.1	―	―	―
Jun 06, 2025	2025 (Q2)	-1.43 / -1.79	-2.1	14.76% (+0.31)
Mar 11, 2025	2025 (Q1)	-1.48 / -1.42	-1.5	5.33% (+0.08)
Dec 19, 2024	2024 (Q4)	-1.73 / -2.21	-2.1	-5.24% (-0.11)	―
Sep 05, 2024	2024 (Q3)	-2.19 / -2.10	-1.8	-16.67% (-0.30)
Jun 10, 2024	2024 (Q2)	-2.28 / -2.10	-2.7	22.22% (+0.60)
Mar 07, 2024	2024 (Q1)	-2.29 / -1.50	-1.5	0.00% (0.00)
Dec 19, 2023	2023 (Q4)	-2.49 / -2.10	-3.3	36.36% (+1.20)
Sep 11, 2023	2023 (Q3)	-2.31 / -1.80	-2.4	25.00% (+0.60)
Jun 08, 2023	2023 (Q2)	-2.29 / -2.70	-2.4	-12.50% (-0.30)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FCEL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 06, 2025	$5.20	$6.47	+24.42%
Mar 11, 2025	$6.33	$6.56	+3.63%
Dec 19, 2024	$9.82	$9.33	-4.99%
Sep 05, 2024	$12.33	$12.56	+1.87%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.