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id: 520, Created by Stan Vick, Scout
FuelCell Energy Long-Drawn-Out Transition Period Case
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On December 20, 2022, FuelCell Energy (FCEL) reported disappointing Q4 2022 results badly missing market expectations both on sales and earnings.
On this news, FCEL stock dropped 18.71% and the Company lost $247 million of its capitalization, seriously damaging investors.
- Analysts expected that FuelCell would show $43.8 million in sales and lose only $0.07 per share but sales came at just $39.2 million, and losses amounted to $0.11 - over 50% worse than expected.
- The CEO, Few does assert that "FuelCell Energy is in a period of transition". He proceeded to clarify that 2023 will be a "transition" year as well, and one in which FuelCell "deploys capital for the plant, equipment, and the talent needed to meaningfully increase the total manufacturing capacity across our technology platforms."
It's understandable that Investors are getting a little tired of the long-drawn-out transition period and shareholders have all reasons to suspect that the Company is managed not the best their interests and that previous financial representations were measliding.
Failure to Disclose,
Shock Event Date
20 December 2022