Fluence Energy reports Q4 EPS (14c), consensus (13c)

Reports Q4 revenue $363.96M, consensus $407.61M. Reports contracted backlog of approximately $3.7B as of December 31, 2023. “We are off to a strong start for 2024 with a record quarterly order intake,” said Julian Nebreda, the Company’s President and CEO. “We continue to see a very robust market for energy storage, which is enabling the global energy transition to a clean energy grid. Additionally, we expect to start our battery module production at our Utah manufacturing facility in the summer of this year, and we expect a gradual ramp up of production over the subsequent quarters. By manufacturing our own battery modules with domestic content, we expect this will further improve our competitive position and allow us and our customers to benefit from incentives under the Inflation Reduction Act of 2022.”