Fuelcell Energy (FCEL) Operating Income (2010 - 2026)
Fuelcell Energy (FCEL) reported Operating Income of -$77.9 million for Q2 2026, down 117.57% on a YoY basis from $443.4 million in Q2 2025, and down 196.36% sequentially from -$26.3 million in Q1 2026.
Fuelcell Energy (FCEL) Operating Income (2010 - 2026) Analysis & Trends
Fuelcell Energy (FCEL) has 17 years of Operating Income data on file, last reported at -$77.9 million in Q2 2026.
- For the quarter ending Q2 2026, Operating Income fell 117.57% year-over-year to -$77.9 million; the trailing twelve-month figure through Apr 2026 stood at -$227.9 million (down 59.02% YoY), and the FY2025 full-year result was -$192.3 million, down 21.36% from the prior year.
- Operating Income fell to -$77.9 million in Q2 2026, from -$26.3 million in the prior quarter.
- In the past five years, Operating Income ranged from a high of -$22.5 million in Q1 2023 to a low of -$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.
- Across the five-year window, Operating Income plunged 212.0% in 2022 and jumped 49.93% in 2023, its largest moves.
- Tracing FCEL's Operating Income over 5 years: stood at -$42.7 million in 2022, then climbed by 14.74% to -$36.4 million in 2023, then slipped by 12.8% to -$41.0 million in 2024, then jumped by 30.97% to -$28.3 million in 2025, then sank by 175.09% to -$77.9 million in 2026.
- Business Quant data shows FCEL's Operating Income at -$77.9 million in Q2 2026, -$26.3 million in Q1 2026, and -$28.3 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Electrovaya | 424.38 Bn | 424.36 Bn | 6.04 Mn | 2.18 Mn |
| 2 | Vertiv Holdings | 116.45 Bn | 113.95 Bn | 999.70 Mn | 440.10 Mn |
| 3 | Bloom Energy | 61.23 Bn | 58.77 Bn | 225.54 Mn | 72.19 Mn |
| 4 | Hubbell | 25.93 Bn | 25.43 Bn | 505.30 Mn | 263.80 Mn |
| 5 | nVent Electric | 25.66 Bn | 25.47 Bn | 445.60 Mn | 195.70 Mn |
| 6 | Advanced Energy Industries | 11.88 Bn | 11.18 Bn | 200.90 Mn | 68.30 Mn |
| 7 | Acuity Inc. (De) | 9.90 Bn | 9.48 Bn | 606.40 Mn | 193.30 Mn |
| 8 | Powell Industries | 9.42 Bn | 8.87 Bn | 87.94 Mn | 57.58 Mn |
| 9 | EnerSys | 7.49 Bn | 7.05 Bn | 290.87 Mn | 123.70 Mn |
| 10 | Fuelcell Energy | 5.02 Mn | -359.10 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 |