Fluence Energy, Inc. Stock Price, News & Analysis

Fluence Energy (NASDAQ: FLNC) reported its Q3 FY2024 results, highlighting record quarterly order intake of $1.3 billion and a record backlog of $4.5 billion. Despite a 10% year-over-year revenue decrease to $483.3 million, the company showed significant improvements in profitability. GAAP gross profit margin rose to 17.2% from 4.1% last year, while net income reached $1.1 million, up from a $35 million loss. Adjusted EBITDA improved to $15.6 million from negative $27.5 million.

Fluence updated its FY2024 guidance, narrowing revenue expectations to $2.7-$2.8 billion and Adjusted EBITDA to $55-$65 million. The company also raised its Annual Recurring Revenue (ARR) guidance to approximately $100 million. Fluence secured a $500 million revolving credit facility, bolstering its liquidity to support ongoing growth.

Fluence Energy (NASDAQ: FLNC) and Excelsior Energy Capital have announced an agreement to install 2.2 GWh of battery storage projects in the United States starting in 2025. The projects will use domestically manufactured batteries, modules, and supporting systems, primarily produced in Tennessee and Utah. This partnership aims to support American manufacturing, domestic supply chains, and electricity grid resilience.

Excelsior will deploy Fluence's Gridstack Pro product line, which is expected to qualify as domestic content under the Inflation Reduction Act (IRA). The agreement is seen as a step towards fostering a domestic supply chain for critical clean tech manufacturing in the U.S., directly supporting American jobs and battery storage production capacity.

Excelsior Energy Capital has entered a multiyear agreement with Fluence Energy Inc. (NASDAQ: FLNC) to develop 2.2 GWh of battery energy storage system (BESS) infrastructure across the United States, starting in 2025. The agreement focuses on utilizing domestically manufactured battery cells from Tennessee and Fluence battery modules from Utah, supporting American grid stability, manufacturing capacity, and supply chain strength.

This partnership aims to reduce battery supply risks, enhance local economies, and accelerate U.S. renewable energy infrastructure. The agreement follows Excelsior's recent announcements, including the sale of a 38-project portfolio to BlackRock, the launch of Lydian Energy, and a 2 GW agreement with Heliene Inc. for domestically produced photovoltaic modules.

Fluence Energy (Nasdaq: FLNC) has announced its upcoming third quarter 2024 earnings release and conference call schedule. The company will report its financial results for the quarter ended June 30, 2024, on Wednesday, August 7th, 2024, after market close. A teleconference to discuss the results is scheduled for Thursday, August 8th, 2024, at 8:30 a.m. ET.

Analysts are required to register for the call, while general audience participants can join in listen-only mode via a webcast. Supplemental materials may be referenced during the call and will be available on the company's website. A replay of the conference call will be accessible after 1 p.m. on August 8, 2024, through Fluence Energy's website.

Fluence Energy, Inc. (NASDAQ: FLNC) has expanded its Digital Services Center (DSC) with a new Remote Monitoring and Diagnostics Center (RMDC) in Bengaluru, India. This expansion aims to optimize global fleet performance and deliver more value to customers. The DSC will serve as a central hub for applying operational data intelligence across 47 markets, providing insights for R&D and services functions.

The RMDC, co-located with Fluence's Global Innovation Center, will bring together experts to drive innovative customer solutions. Fluence plans to leverage digitization, AI, and its Nispera asset performance management software to address challenges in maximizing the lifetime value of storage assets. The company's services aim to resolve up to 90% of issues remotely, optimizing asset performance and operational productivity.

MW Storage and Fluence Energy have announced their third battery-based energy storage project in Finland, a 20 MW / 20 MWh system near Mäntsälä in Uusimaa. This project aims to enhance grid stability and support lower electricity prices through energy trading. Fluence is set to build its fifth project for MW Storage, following prior collaborations in Finland, Germany, and Switzerland. Finland's goal to achieve carbon neutrality by 2035 and a 20% rise in electricity demand to 100 TWh by 2030 underscore the need for flexible, fast-responding energy storage solutions. The new project will contribute to this goal, adding to the 300 MW of grid-scale storage expected to be connected to the Finnish grid within two years. Both companies emphasize quality, safety, and technological advancement in their partnership.

Fluence Energy and Dispatch are collaborating to establish the largest stand-alone battery storage system in the Netherlands, set in Dordrecht's port area. This innovative 45 MW / 90 MWh system aims to bolster grid stability, reduce blackout occurrences, and optimize the use of renewable energy sources.

The Netherlands has targeted a 49% reduction in CO2 emissions by 2030, increasing to 95% by 2050 compared to 1990 levels, necessitating at least 9 GW of battery storage by 2030. The project aligns with national goals by providing critical grid balancing services and renewable energy storage. The partnership underscores Fluence’s commitment to advancing energy storage technologies, reinforcing its substantial presence and future growth in the Dutch market.

Fluence Energy and TransnetBW have commenced construction on Germany's first Grid Booster, a 250 MW battery-based energy storage system in Kupferzell. This project aims to improve the efficiency of Germany's transmission network by reducing grid congestion and improving renewable energy integration. The Grid Booster, anticipated to be operational soon, will support the transportation of wind energy from northern to southern Germany. The project spans 4.5 football fields and can charge or discharge 250 MW of power for an hour. The initiative is expected to contribute significantly to Germany's transition to a climate-neutral future, with an overall goal of reducing consumer electricity costs and generating €12 billion in economic value by 2050.

Fluence Energy, Inc. reported strong financial performance for the second fiscal quarter, with revenue of $623.1 million, a 10.3% gross profit margin, and a net loss of $12.9 million. The company's backlog stands at $3.7 billion, with total cash of $541.5 million. Fluence is reaffirming its fiscal year 2024 guidance, with expected revenue of $2.7-3.3 billion and adjusted EBITDA of $50-80 million.