NEW YORK - Fluence Energy, Inc. (NASDAQ:FLNC) shares jumped 3.7% in after-hours trading on Monday after the energy storage company reported better-than-expected fourth quarter earnings and issued upbeat guidance for fiscal 2025.
The Arlington, Virginia-based company posted adjusted earnings per share of $0.34 for the quarter ended September 30, surpassing analyst estimates of $0.28. Revenue came in at $1.23 billion, slightly below the consensus forecast of $1.29 billion but up 82% YoY.
Fluence's strong performance was driven by continued growth in its energy storage business. The company deployed 5.0 gigawatts of energy storage products in fiscal 2024, up 67% from the previous year.
"Our record financial results for 2024 are a testament to our team's dedication, operational efficiency, and commitment to delivering value to our stakeholders as we achieved our highest ever revenue and profitability," said Julian Nebreda, Fluence's President and CEO.
Looking ahead, Fluence provided an optimistic outlook for fiscal 2025, projecting revenue between $3.6 billion and $4.4 billion. The midpoint of $4.0 billion slightly exceeds the current analyst consensus of $3.95 billion.
The company also reported a record contracted backlog of $4.5 billion as of September 30, up from $2.9 billion a year earlier, indicating strong future demand for its energy storage solutions.
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