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FuelCell Energy/$FCEL

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About FuelCell Energy

FuelCell Energy Inc is a clean energy technology company engaged in the development, design, production, and servicing of high temperature fuel cells for clean electric power generation. The Company provides proprietary molten carbonate fuel cell systems that generate electricity electrochemically with ultra low emissions and high efficiency, and operates as a solutions provider managing the design, manufacturing, installation, and maintenance of its systems under long term power purchase, service, and engineering procurement agreements. The Company serves utilities, data centers, and commercial and industrial customers, and operates in the United States, South Korea, Europe, and Canada, with maximum revenue generated from the United States.
Ticker
$FCEL
Primary listing
NASDAQ
Employees
424

FuelCell Energy Metrics

BasicAdvanced
$1B
-
-$3.41
2.35
-

What the Analysts think about FuelCell Energy

Analyst ratings (Buy, Hold, Sell) for FuelCell Energy stock.
Analyst projections of the future price of FuelCell Energy stock.

Bulls say / Bears say

The Fit Energy agreement gives FuelCell Energy its first data-centre order: an initial 30 MW phase has a deposit and is scheduled for delivery, with a framework for up to 380 MW if later phases are elected. This is a concrete foothold in the market, although only the initial phase is committed. (FuelCell Energy)
A separate 75 MW Texas project reservation, backed by an upfront payment, adds another potential data-centre customer and gives FCEL priority to manufacturing capacity while definitive agreements are finalised. It suggests interest beyond the Fit Energy deal, though the project is not yet a final contract. (FuelCell Energy)
FuelCell Energy delivered and installed its first two carbon-capture modules at ExxonMobil’s Rotterdam site, moving their joint technology into an industrial-scale demonstration. If the trial proves effective, it could open a further market beyond power generation, although commercial viability remains to be established. (FuelCell Energy)
Q3 revenue fell 29% year on year to $33.0 million, while the gross loss widened to $24.5 million. FCEL said product costs and manufacturing overhead exceeded Fit Energy’s contract pricing at current production levels, highlighting that higher sales do not yet guarantee profitable deliveries. (FuelCell Energy)
The $2.35 billion of awarded capacity backlog is not firm contracted revenue: Fit Energy can choose whether to proceed with the additional phases, and no payment is due until it does. Site selection, permitting and financing also remain outstanding, so the headline backlog may not convert into sales. (SEC)
FCEL remains loss-making: it reported a $45.3 million Q3 net loss, and its weighted-average share count rose to 70.4 million from 24.4 million a year earlier. The company attributed the improved loss per share largely to that higher share count, underscoring dilution risk rather than a proven earnings turnaround. (SEC)
Data summarised monthly by Lightyear AI. Last updated on 19 Oct 2026.

FuelCell Energy Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

FuelCell Energy Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
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