FuelCell Energy (FCEL) Tops Q3 EPS by 1c

FuelCell Energy (Nasdaq: FCEL) reported Q3 EPS of ($0.38), $0.01 better than the analyst estimate of ($0.39). Revenue for the quarter came in at $21.7 million versus the consensus estimate of $32.28 million.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter of 2016 totaled ($9.0) million. Refer to the discussion of Non-GAAP financial measures below regarding the Company’s calculation of Adjusted EBITDA. Capital spending was $1.7 million and depreciation expense was $1.2 million.

Revenue Backlog

Total backlog was $392.1 million as of July 31, 2016 compared to $338.3 million as of July 31, 2015.

• Services backlog totaled $299.0 million as of July 31, 2016 compared to $225.2 million as of July 31, 2015. Services backlog includes future contracted revenue from routine maintenance, scheduled module exchanges, and from power purchase agreements.
• Product sales backlog totaled $35.0 million as of July 31, 2016 compared to $98.1 million as of July 31, 2015. Product sales backlog reflects firm orders with executed contracts. Notices of awards, outstanding bids, and project pipeline are not included in product backlog.
• Advanced Technologies contracts backlog totaled $58.1 million as of July 31, 2016 compared to $15.0 million as of July 31, 2015.

For earnings history and earnings-related data on FuelCell Energy (FCEL) click here.

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