FuelCell Energy Inc (FCEL)

[Hoghead7]

If we think realistically, 24 might be a challenge for revenue growth given Q1. Averaging $130M in 22+23 I believe. They need to average $40M per Q for the remainder of 24 just to beat 2022+23. That's feasible and I believe they will, but 40% increase YOY in 24 would be over $56M perQ average Q2, Q3, + Q4. That's iffy. S&L is supposed to kick in Q2 or Q3 but not a ton. So I'm a bit confused about any substantial beat for the year. But, extrapolate Few's numbers we get 130% in 2 years and 670% in 7 years. That's just under 52% Annual growth through 25 but under 40% through 2030, which is largely why I believe we gut upward guidance no later than 2026