FuelCell reports Q1 EPS (5c), consensus (8c)

Reports Q1 revenue $16.691M, consensus $23.82M. “In 2024, we continue to focus on the accelerated implementation of our Powerhouse Business Strategy. In the first quarter of fiscal year 2024, we reported lower revenues compared to the comparable prior-year quarter, although results were in line with our expectations,” said Mr. Jason Few, President and Chief Executive Officer. “It’s important to note that, during the comparable prior-year quarter, we reported a one-time revenue benefit from the expiration of a material right related to an extended warranty obligation and higher service revenues from required module replacements.”