FuelCell Energy, Inc. (FCEL) Earnings Call Transcripts
FuelCell Energy, Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of fiscal 2026, FuelCell Energy reported total revenues of $35.6 million, a decrease of approximately 5% year-over-year, primarily due to lower service revenue and generation output. The company experienced a net loss of $77.6 million, compared to a net loss of $37.7 million in the prior year quarter. Management highlighted a significant expansion in their project pipeline to 4 gigawatts, a 250% increase from the previous quarter, and announced plans to increase manufacturing capacity from 350 megawatts to 500 megawatts annually, signaling a strong focus on meeting the growing demand for distributed power solutions, particularly in the AI and data center markets.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $35.6 million (miss) |
| Net Loss | $77.6 million (negative) |
| Adjusted EBITDA | -$17.1 million (positive) |
| Backlog | $1.14 billion (negative) |
| Operating Expenses | $65 million (negative) |
| Cash and Cash Equivalents | $441 million (positive) |
Guidance from management
Management expects to convert submitted proposals into contracted backlog within this fiscal year and anticipates consistent product revenue in the second half of fiscal 2026.
What analysts pressed on
Analysts expressed concerns about the increase in operating expenses and the impact of the non-cash impairment charge on profitability. There were also questions regarding the timeline for converting the expanded pipeline into revenue and the potential for further capital raises.
Main topics on the call
- Pipeline Expansion — FuelCell Energy's project pipeline has expanded to 4 gigawatts, reflecting a more than 250% increase over the previous quarter. Management stated, "This represents a more than 250% increase over our first quarter pipelin...
- Manufacturing Capacity Increase — The company is increasing its annual manufacturing capacity from 350 megawatts to 500 megawatts to meet rising demand. Management noted, "we are increasing our planned capacity expansion... to 500 megawatts of fuel cell ...
- Financial Performance — Total revenues decreased to $35.6 million from $37.4 million year-over-year, primarily due to lower service revenue. The net loss increased to $77.6 million from $37.7 million, driven by a non-cash impairment charge.
- Product Revenue Growth — Despite overall revenue decline, product revenues increased due to scheduled module deliveries. Management expects consistent product revenue in the second half of fiscal 2026, stating, "We expect deliveries of the remai...
Read the full FuelCell Energy, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About FuelCell Energy, Inc.
FuelCell Energy, Inc. (FCEL) is a publicly listed company in the Electrical Equipment industry, within the Industrials sector. It trades on NasdaqGM and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 29 calls on record spanning January 22, 2020 to June 8, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 29 FuelCell Energy, Inc. earnings call transcripts on record, spanning January 22, 2020 to June 8, 2026. Based on this history, FuelCell Energy, Inc. reports quarterly. The most recent call on file is dated June 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- FCEL
- Exchange
- NasdaqGM
- Country
- US
- Sector
- Industrials
- Industry
- Electrical Equipment
- Calls on record
- 29
- First call
- January 22, 2020
- Most recent
- June 8, 2026
- Reporting cadence
- quarterly