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FuelCell Energy FCEL Q3 2026 earnings

Reported September 2, 2026 · Before market open

Revenue$33.0MMiss by $5.8M
EPS-$0.64Miss by $0.23
Revenue estimate$38.8M
EPS estimate-$0.41
“During the third quarter, FuelCell Energy accelerated the commercial execution of our data center strategy while continuing to expand the manufacturing capacity we believe is required to support long-term growth. Our capital equipment purchase agreement with Fit Energy for a total aggregate generation capacity of up to 380 MW across four potential phases, intended to supply baseload power for data center applications, represents an important commercial milestone and validates FuelCell Energy's ability to help meet the growing demand for utility-scale, behind-the-meter power solutions that accelerate time-to-power.”
Jason Few

Next report

Dec 17, 2026 (in 2 months)
Revenue estimate$48.4M
EPS estimate-$0.39

Financials

Q3 2026

Income statement

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Revenue$33.0M-29.4%
Gross profit-$24.5M-377%
Operating income-$46.7M+51.1%
Net income-$44.5M+51.5%
EPS (diluted)-$0.64+83.1%

Balance sheet

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Cash & equivalents$658.1M+277%
Total debt$31.4M+7.6%
Total equity$975.1M+75.3%
Total assets$1.3B+57.9%

Cash flow

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Operating cash flow-$12.2M+54.5%
CapEx$1.3M-74.8%
Free cash flow-$13.5M+57.8%

Valuation & ratios

Valuation

as of 10/09/26
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Market cap$1.38B+332%
Enterprise value$752.17M+333%
P/S9×+6.9×

Profitability

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Gross margin-32.4%+50.4pp
Operating margin-116.3%-13.9pp
Net margin-113.6%-13.2pp
FCF margin-65.6%-10.8pp

Returns & leverage

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Return on equity-22.9%-5.2pp
Debt / equity0×0.0×
Current ratio8.7×+3.3×

Segments

By product

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Electricity Generation$8.8M-28.8%
Advanced Technologies$3.8M-28.1%
Service$2.4M-22.6%

FAQ

When did FuelCell Energy report Q3 2026 earnings?
FuelCell Energy (FCEL) reported Q3 2026 earnings on September 2, 2026 before market open.
What were FuelCell Energy's Q3 2026 revenue and EPS?
FuelCell Energy reported revenue of $33.0M and eps of $-0.64 for Q3 2026.
Did FuelCell Energy beat estimates in Q3 2026?
Revenue missed the consensus estimate of $38.8M by $5.8M. EPS missed the consensus estimate of $-0.41 by $0.23.
How did FuelCell Energy's Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 29.4% from $46.7M a year earlier and eps grew 32.6% from $-0.95.
Where can I find FuelCell Energy's Q3 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-104498) and the 10-Q periodic report (0001104659-26-104501) directly on SEC EDGAR. The filing index links above go to sec.gov.