Why FuelCell Energy Stock Dropped Today
FuelCell Energy (NASDAQ: FCEL) saw its power drained Thursday morning, with its stock falling 4.7% through noon ET, after the alternative energy company reported weaker-than-expected earnings for its fiscal second quarter 2022.
Heading into the quarter, analysts had forecast FuelCell would lose only $0.05 per share on sales of $32.6 million. As it turned out, however, its loss was bigger ($0.08 per share) and its sales smaller (just $16.4 million) than anyone had guessed.
The good news is that FuelCell still did manage to grow its revenue -- just not as much as analysts had hoped for. Sales for the fiscal second quarter climbed 17% year over year. Sadly, weakened profit margins meant that gross losses for the quarter also climbed (52%), as did operating losses (up 62%) and of course net losses as well (up 33% year over year at the aforementioned $0.08-per-share loss).
Source Fool.com
