On October 7, FuelCell fell 8.23% in pre-market trading, trading at $19.0/share, with Turnover of $394.75 million. The decline follows the company's announcement that chief financial officer Michael Bishop will step down, effective immediately, and be succeeded by Matthew Latino. Bishop will remain as a senior advisor through the company's 2027 annual stockholders meeting. Latino was most recently segment CFO of Xylem's Measurement & Control Solutions business. The company reiterated its target of achieving positive adjusted EBITDA in the fourth quarter of fiscal 2027, contingent on increased annualized production rates and conversion of awarded capacity backlog.
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