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FuelCell Energy adjusted EBITDA loss widens in fiscal Q2

FuelCell Energy Inc. on June 7 reported a fiscal second-quarter 2018 adjusted EBITDA loss of $9.8 million, compared with a loss of $8.0 million in the same quarter of fiscal 2017.

The company posted a net loss attributable to common shareholders of $18.2 million, or 23 cents per share, compared with a net loss of $14.0 million, or 33 cents per share, in the 2017 fiscal second quarter. The net loss for the most recent quarter included a deemed dividend of $4.2 million on the company's series C preferred stock.

Revenues for the 2018 fiscal second quarter increased to $20.8 million, from $20.4 million a year earlier. The company posted a gross loss of $629,000, down from a gross profit of $383,000 in the prior-year period.

FuelCell's backlog totaled approximately $681.9 million as of April 30.

"We remain laser-focused on the key areas for our success: Execution of our backlog, growth of our generation portfolio assets, winning new business and advancing the big opportunities of carbon capture, hydrogen production and long-duration storage solutions," said President and CEO Chip Bottone.