FuelCell Energy stock drops 13% after wider loss and surprise charge despite first data center deal.

FuelCell Energy's stock fell 13% following its fiscal Q3 2026 report, which showed a wider loss and a $17 million charge related to product costs and pricing issues with Fit Energy. Revenue dropped 29% year-over-year to $33 million, missing expectations, while the company’s loss per share was larger than anticipated. Despite these setbacks, FuelCell Energy secured its first data center reservation agreement for a 75 MW project in Texas and increased its backlog to $1.3 billion. The company is expanding its manufacturing capacity to support growth, but investors remain cautious about whether production ramp-up will close the cost-pricing gap and convert backlog into committed revenue. The upcoming earnings call may clarify these issues and the impact of the Fit Energy charge.