FuelCell Energy Inc (NASDAQ:FCEL) reported a third-quarter revenue decline of 7% year-over-year to $23.695 million, beating the consensus of $22.62 million.
Service Agreements revenue dropped to $1.4 million from $9.8 million YoY due to no module exchanges; Generation revenues jumped 22% to $13.4 million, driven by revenue generated by the Toyota and Derby projects. Advanced Technologies contract revenues rose to $8.6 million from $4.7 million.
The company reported a loss per share of $0.07, which aligned with the consensus. The company reported a gross loss of $6.2 million, an improvement from the previous year’s $8.2 million.
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