FuelCell reports Q4 EPS (7c), consensus (8c)

Reports Q4 revenue $22.462M, consensus $25.17M. “We were very pleased with our operational execution during the fiscal year, which we believe positions FuelCell Energy for future growth,” said Jason Few, President and CEO. “We achieved a major milestone as our distributed hydrogen tri-generation platform in Long Beach began commercial operations, producing renewable electricity, hydrogen and water for our customer, Toyota. This critical project showcases the versatility and sophistication of our fuel cell technology while supporting Toyota’s environmental commitments. Also of note, yesterday we announced with ExxonMobil that ExxonMobil’s affiliate, Esso Nederland BV, plans to build a pilot plant at its Rotterdam Manufacturing Complex to test our carbonate fuel cell technology for carbon capture, which was developed under a joint development agreement with ExxonMobil Technology and Engineering Company. The announcement of this plan follows the successful completion of all required technology tests regarding the efficacy and longevity of our carbonate fuel cells, which we believe proves their technical effectiveness for industrial emissions applications.”