Carbonate fuel cell technology developer FuelCell Energy (NASDAQ: FCEL) will be reporting results this Thursday before market open. Here’s what to expect.

FuelCell Energy missed analysts’ revenue expectations by 5.7% last quarter, reporting revenues of $46.74 million, up 97.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Is FuelCell Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting FuelCell Energy’s revenue to decline 10.9% year on year to $43.96 million, a reversal from the 120% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.03 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FuelCell Energy has missed Wall Street’s revenue estimates four times over the last two years.

Looking at FuelCell Energy’s peers in the renewable energy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. EnerSys delivered year-on-year revenue growth of 7.6%, beating analysts’ expectations by 6.9%, and ChargePoint reported revenues up 6.1%, topping estimates by 10.2%. EnerSys traded up 1.9% following the results while ChargePoint was also up 20.9%.

Read our full analysis of EnerSys’s results here and ChargePoint’s results here.

There has been positive sentiment among investors in the renewable energy segment, with share prices up 8.3% on average over the last month. FuelCell Energy is up 30.4% during the same time and is heading into earnings with an average analyst price target of $7.84 (compared to the current share price of $8.57).

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