Fluence Energy plunges on weak results, grim outlook, analyst downgrades

Fluence Energy

11/02/2025 15:25

** Fluence Energy's  FLNC.O  shares plunge 48.3% to $6.76 after
dour qtrly report
    ** FLNC shares set for record daily pct decline, hit lowest
since May 2022
** Renewable energy storage provider late Mon posted fiscal Q1
loss of 32 cents/sh vs 14 cents/sh loss a year ago. Analysts on
avg expected reported loss of 17 cents/sh, per LSEG
    ** Rev in qtr fell 49% y/y to $186.8 mln, well below
consensus of $380.3 mln
** Arlington, Virginia-based firm lowered 2025 rev guidance to
$3.1-$3.7 bln from $3.6-$4.4 bln, primarily due to timing of
certain contracts in Australia now expected to be signed later
this year
    ** "We have experienced customer-driven delays in signing
certain contracts that, coupled with competitive pressures,
result in the need to lower our fiscal year 2025 outlook," CEO
Julian Nebreda said in statement
  
    ** Reacting to the news, BMO cuts rating to 'market perform'
from 'outperform' and slashes PT from $22 to $10; 
    Guggenheim double downgrades to 'sell' from 'buy' and hacks
PT from $26 to Street-low $6
  
    ** Of 23 analysts covering FLNC, recommendation breakdown is
15 "strong buy" or "buy", 7 "hold" and 1 "strong sell"; median
PT is $23 - LSEG
    ** FLNC shares lost a third of their value in 2024

(Lance Tupper is a Reuters market analyst. The views expressed
are his own))
((lance.tupper@tr.com 1-646-279-6380))