ITT Inc
Change company Symbol lookup
Select an option...
ITT ITT Inc
PLBY Plby Group Inc
SVFA SVF Investment Corp
ROIUF Route1 Inc
MPB Mid Penn Bancorp Inc
NWSA News Corp
BAC Bank of America Corp
BA Boeing Co
EGRNF China Evergrande Group
SHYF Shyft Group Inc
Go

Industrials : Machinery | Mid Cap Blend
Company profile

ITT Inc. is a manufacturer of engineered critical components and customized technology solutions for the energy, transportation and industrial markets. The Company operates through four segments. The Industrial Process (IP) segment is an original equipment manufacturer and service provider offering a range of industrial pumps, valves and plant optimization systems and services. The Motion Technologies (MT) segment is a manufacturer of braking pads, shims, shock absorbers, damping, and sealing technologies for the transportation industry, including passenger cars, buses, and rail transportation. The Interconnect Solutions (ICS) segment designs and manufactures engineered connectors and cable assemblies for a range of applications in a range of environments. The Control Technologies (CT) segment manufactures equipment, including actuation, fuel management, noise and energy absorption, and environmental control system components, for the aerospace and defense, and industrial markets.

Closing Price
$87.41
Day's Change
-1.61 (-1.81%)
Bid
--
Ask
--
B/A Size
--
Day's High
88.89
Day's Low
86.82
Volume
(Heavy Day)
Volume:
1,254,778

10-day average volume:
528,236
1,254,778

FuelCell stock soars after long streak of earnings misses snapped

12:41 pm ET September 14, 2021 (MarketWatch)
Print

Tomi Kilgore

Losses are narrower than expected for the first time in eight quarters, as gross margin turns positive

Shares of FuelCell Energy Inc. shot higher on heavy volume Tuesday, after the fuel cell technology company pleasantly surprised investors by reporting a narrower-than-expected fiscal third-quarter loss, and revenue that rose well above expectations.

The company (FCEL) reported before the opening bell net losses for the quarter to July 31 that narrowed $12.8 million, or 4 cents a share, from $16.1 million, or 7 cents a share, in the same period a year ago. That beat the FactSet consensus for per-share losses of 5 cents.

That snaps a seven-quarter streak in which the company reported losses that were wider than expected, according to data provided by FactSet. The last time FuelCell beat bottom-line expectations was the second-quarter of 2019.

Revenue rose 43.2% to $26.8 million from $18.7 million, above the FactSet consensus of $21.1 million, boosted by a $7.2 million increase in service agreements and license revenue. That was the biggest revenue beat, in terms of the percent above expectations, in two years, according to FactSet.

As the cost of revenue increased just 17.7% to $25.72 billion from $21.86 billion, gross margin swung to a positive 4.1% from negative 16.7%.

The stock rocketed as much as 34.2% in intraday trading before paring gains to be up 17.7% in midday trading.

Volume spiked to 172.3 million shares, compared with the full-day average of about 17.5 million shares, and enough to make the stock the most actively traded on major U.S. exchanges.

The stock's rally comes just two sessions after it closed at a 10-month closing low of $5.58 on Sept. 10, which followed an 80.0% plunge from the five-year high $27.96 reached seven months ago.

"The global energy transition continues to accelerate, and we believe FuelCell Energy is positioned to answer these opportunities with our patented portfolio of platform solution," said Chief Executive Jason Few.

FuelCell's stock has tumbled 40.8% year to date, but has rocketed 192.6% over the past 12 months. In comparison, the S&P 500 index has gained 18.7% this year, and 31.8% over the past year.

-Tomi Kilgore

	

(END) Dow Jones Newswires

September 14, 2021 12:41 ET (16:41 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2021 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2021. All rights reserved.