FuelCell Energy Inc (NASDAQ:FCEL) reported a first-quarter fiscal 2024 revenue decline of 55% year-over-year to $16.69 million, missing the consensus of $23.82 million.
The decline in revenue reflects lower service and product revenue compared to last year. The company reported an EPS loss of $(0.05), flat YoY, beating the consensus of $(0.08).
Gross loss for the quarter totaled $(11.7) million compared to gross profit of $5.2 million a year ago. The operating loss expanded to $(42.5) million from $(22.5) million the previous year.
The company stated that …