Fuelcell Energy (FCEL) Operating Income (2010 - 2026)
Fuelcell Energy (FCEL) posted Operating Income of -$77.9 million for Q2 2026, down 196.36% sequentially from -$26.3 million in Q1 2026, and down 117.57% YoY from $443.4 million in Q2 2025.
Fuelcell Energy (FCEL) Operating Income (2010 - 2026) Analysis & Trends
Fuelcell Energy has reported Operating Income for 17 years, with the latest figure at -$77.9 million in Q2 2026.
- Quarterly Operating Income fell 117.57% year-over-year to -$77.9 million in Q2 2026, while the trailing twelve-month figure through Apr 2026 was -$227.9 million (down 59.02% YoY) and the FY2025 annual result came in at -$192.3 million, down 21.36% from the prior year.
- Operating Income fell to -$77.9 million in Q2 2026 per FCEL's latest filing, from -$26.3 million in the prior quarter.
- Over five years, Operating Income peaked at -$22.5 million in Q1 2023 and troughed at -$95.4 million in Q3 2025.
- A 5-year average of -$40.8 million and a median of -$36.1 million in 2023 frame the typical range for Operating Income.
- The sharpest annual moves came in 2022 and 2023: Operating Income slumped 212.0% in 2022, then soared 49.93% in 2023.
- Over 5 years, Operating Income stood at -$42.7 million in 2022, then rose by 14.74% to -$36.4 million in 2023, then fell by 12.8% to -$41.0 million in 2024, then jumped by 30.97% to -$28.3 million in 2025, then plunged by 175.09% to -$77.9 million in 2026.
- According to Business Quant data, Operating Income over the past three periods registered -$77.9 million, -$26.3 million, and -$28.3 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.35 Bn | 98.24 Bn | 1.23 Bn | 637.90 Mn |
| 2 | Bloom Energy | 58.17 Bn | 55.50 Bn | 355.57 Mn | 182.24 Mn |
| 3 | nVent Electric | 24.99 Bn | 24.74 Bn | 558.00 Mn | 300.70 Mn |
| 4 | Hubbell | 24.90 Bn | 24.51 Bn | 613.00 Mn | 348.60 Mn |
| 5 | Advanced Energy Industries | 11.37 Bn | 9.96 Bn | 236.10 Mn | 95.10 Mn |
| 6 | Acuity Inc. (De) | 10.36 Bn | 9.95 Bn | 606.40 Mn | 193.30 Mn |
| 7 | Powell Industries | 7.22 Bn | 6.58 Bn | 95.30 Mn | 64.08 Mn |
| 8 | EnerSys | 6.93 Bn | 6.40 Bn | 313.36 Mn | 151.41 Mn |
| 9 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn | 76.00 Mn |
| 10 | Fuelcell Energy | 1.00 Bn | 627.38 Mn | -12.93 Mn | -77.91 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | -77.91 Mn |
| Jan 31, 2026 | -26.29 Mn |
| Oct 31, 2025 | -28.32 Mn |
| Jul 31, 2025 | -95.36 Mn |
| Apr 30, 2025 | -35.81 Mn |
| Jan 31, 2025 | -32.85 Mn |
| Oct 31, 2024 | -41.03 Mn |
| Jul 31, 2024 | -33.62 Mn |
| Apr 30, 2024 | -41.36 Mn |
| Jan 31, 2024 | -42.48 Mn |
| Oct 31, 2023 | -36.38 Mn |
| Jul 31, 2023 | -41.40 Mn |
| Apr 30, 2023 | -35.86 Mn |
| Jan 31, 2023 | -22.46 Mn |
| Oct 31, 2022 | -42.67 Mn |
| Jul 31, 2022 | -28.00 Mn |
| Apr 30, 2022 | -28.22 Mn |
| Jan 31, 2022 | -44.84 Mn |
| Oct 31, 2021 | -22.55 Mn |
| Jul 31, 2021 | -10.59 Mn |