What happens to a company that gets a single order worth more than 1.5 times last year's sales? For FuelCell Energy
On Tuesday, FuelCell announced a 70 MW order from POSCO Power, a subsidiary of POSCO
Fuel cells are a promising technology that has given FuelCell and Ballard Power Systems
Recently, gross margins have improved from -23.2% a year ago to -6% in the fourth quarter and flat in the first quarter of this year. With sales likely to keep rising from $25.8 million last quarter FuelCell is getting close to busting into profitability.
Sales pace picking up
An improving contract backlog is a sign of future growth. FuelCell received an $11.7 million contract to develop a clean-coal fuel cell power plant, a research contract for biogas and carbon capture, and fuel cell sales in London and California. As research deals lead to more capabilities for the company, it will help expand offerings to stay ahead of competitors.
Big power players General Electric