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FuelCell narrows fiscal Q2 losses in 2017

FuelCell Energy Inc. on June 8 posted a fiscal second-quarter 2017 negative adjusted EBITDA of $8 million, compared to negative adjusted EBITDA of $10.7 million in the comparable period of 2016.

The company recorded a net loss attributable to common shareholders of $14.0 million, or a loss of 33 cents per share, for the quarter ended April 30, compared to a loss of $16.2 million, or a loss of 56 cents per share, a year ago.

Revenues for the most recent quarter were $20.4 million, an increase from $28.6 million in the prior-year quarter, and the company booked a fiscal second-quarter loss from operations of $11.5 million, compared to a loss from operations of $12.7 million in the comparable period of 2016.

As of April 30, 2017, FuelCell Energy's backlog was $434.5 million, compared to $410.7 million as of April 30, 2016.