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FuelCell Energy FCEL Q1 2026 earnings

Reported March 9, 2026 · Before market open

Revenue$30.5MMiss by $11.6M
EPS-$0.52Beat by $0.16
Revenue estimate$42.2M
EPS estimate-$0.68

Next report

Sep 2, 2026 (In 5 days)
Revenue estimate$38.8M
EPS estimate-$0.41

Financials

Q1 2026

Income statement

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Revenue$30.5M+60.7%
Gross profit-$5.9M-12.5%
Operating income-$26.3M+20.0%
Net income-$22.9M+19.3%
EPS (diluted)-$0.49+65.5%

Balance sheet

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Cash & equivalents$311.8M+218%
Total debt$30.6M+16.1%
Total equity$694.9M+9.4%
Total assets$978.5M+7.8%

Cash flow

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Operating cash flow-$33.9M+25.8%
CapEx$773.0K-89.1%
Free cash flow-$34.7M+34.2%

Valuation & ratios

Valuation

as of 01/31/26
See full
Market cap$390.96M+149%
Enterprise value$109.81M+28.6%
P/S2.3×+0.9×

Profitability

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Gross margin-15.9%-4.4pp
Operating margin-109.5%-15.0pp
Net margin-107.5%-8.5pp
FCF margin-74.2%-26.0pp

Returns & leverage

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Return on equity-27.4%+13.2pp
Debt / equity0×0.0×
Current ratio8×+1.6×

Segments

By product

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Electricity Generation$11.0M-3.2%
Advanced Technologies$4.3M-24.8%
Service$3.2M+72.6%

FAQ

When did FuelCell Energy report Q1 2026 earnings?
FuelCell Energy (FCEL) reported Q1 2026 earnings on March 9, 2026 before market open.
What were FuelCell Energy's Q1 2026 revenue and EPS?
FuelCell Energy reported revenue of $30.5M and eps of $-0.52 for Q1 2026.
Did FuelCell Energy beat estimates in Q1 2026?
Revenue missed the consensus estimate of $42.2M by $11.6M. EPS beat the consensus estimate of $-0.68 by $0.16.
How did FuelCell Energy's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 60.7% from $19.0M a year earlier and eps grew 63.4% from $-1.42.
Where can I find FuelCell Energy's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-024968) and the 10-Q periodic report (0001104659-26-024970) directly on SEC EDGAR. The filing index links above go to sec.gov.