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FuelCell Energy FCEL Q2 2026 earnings

Reported June 8, 2026 · Before market open

Revenue$35.6MMiss by $4.9MDiluted EPS-$0.53Miss by $0.01
Revenue estimate$40.5M
EPS estimate-$0.52

Next report

Sep 8, 2026 (in 2 months)
Revenue estimate$40.6M
EPS estimate-$0.40

Financials

Q2 2026

Income statement

See full
Revenue$35.6M-4.9%
Gross profit-$12.9M-37.0%
Operating income-$77.9M-118%
Net income-$77.9M-105%
EPS (diluted)-$1.45+19.0%

Balance sheet

See full
Cash & equivalents$373.2M+222%
Total debt$30.2M+14.7%
Total equity$719.4M+18.1%
Total assets$1.0B+13.5%

Cash flow

See full
Operating cash flow-$27.3M+8.7%
CapEx$1.7M-67.7%
Free cash flow-$29.0M+17.5%

Valuation & ratios

Valuation

as of 07/10/26
See full
Market cap$1.55B+746%
Enterprise value$1.21B+4,228%
P/S9.3×+7.8×

Profitability

See full
Gross margin-18.2%-3.7pp
Operating margin-135.7%+39.6pp
Net margin-132.4%+37.4pp
FCF margin-71.3%-22.3pp

Returns & leverage

See full
Return on equity-33.5%+31.9pp
Debt / equity0×0.0×
Current ratio8.6×+3.0×

Segments

By product

See full
Electricity Generation$8.7M-28.4%
Advanced Technologies$4.7M+14.7%
Service$4.2M-48.7%

Versus estimates

Revenue

Q2 2026$35.6MMiss by $4.9M
Q1 2026$30.5MMiss by $11.6MQ4 2025$55.0MBeat by $7.4MQ3 2025$46.7MMiss by $672.3KQ2 2025$37.4MBeat by $5.0MQ1 2025$19.0MMiss by $14.9M

Diluted EPS

Q2 2026-$0.53Miss by $0.01
Q1 2026-$0.52Beat by $0.16Q4 2025-$0.83Beat by $0.14Q3 2025-$0.95Beat by $0.64Q2 2025-$1.79Miss by $0.28Q1 2025-$1.42Beat by $0.10

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Questions, answered.

When did FuelCell Energy report Q2 2026 earnings?
FuelCell Energy (FCEL) reported Q2 2026 earnings on June 8, 2026 before market open.
What were FuelCell Energy's Q2 2026 revenue and EPS?
FuelCell Energy reported revenue of $35.6M and diluted EPS of $-0.53 for Q2 2026.
Did FuelCell Energy beat estimates in Q2 2026?
Revenue missed the consensus estimate of $40.5M by $4.9M. EPS missed the consensus estimate of $-0.52 by $0.01.
How did FuelCell Energy's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 4.9% from $37.4M a year earlier and diluted EPS grew 70.4% from $-1.79.
Where can I find FuelCell Energy's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-071181) and the 10-Q periodic report (0001104659-26-071183) directly on SEC EDGAR. The filing index links above go to sec.gov.