The company’s financial outlook has shifted dramatically, with adjusted EBITDA losses now projected at $200 million, a stark departure from the $10 million loss previously forecast. Chief Executive Julian Nebreda attributed these setbacks to production delays, though he maintained that overall market demand for energy storage remains robust. In response, the firm is initiating a broad internal restructuring to tighten supply chain oversight and stabilize manufacturing throughput.
In section Market Quotes
Fluence Energy Slashes Revenue Outlook Amid Manufacturing Hurdles
Shares of Fluence Energy plunged 17% in after-hours trading Wednesday after the battery storage provider slashed its annual revenue guidance by $600 million. The company, now anticipating $2.4 billion in sales, cited persistent bottlenecks at its Houston contract manufacturing facility as the primary driver behind the downward revision.
To spearhead this operational pivot, Fluence has appointed Bernerd Da Santos as chief operating officer. Da Santos, a veteran executive previously with AES, will oversee the company's manufacturing and enterprise operations. His compensation package includes a $650,000 base salary and a $700,000 sign-on bonus as the company attempts to recover from a 61% decline in share value over the current year.
Comments (0)
No comments yet. Be the first!