Fluence Energy shares fell 22% in after-hours trading Wednesday after the energy-storage company sharply reduced its fiscal 2026 outlook. Revenue is now expected at approximately $2.4 billion, down from the previous midpoint of $3.0 billion, while adjusted EBITDA is projected at a loss of approximately $200.0 million versus a prior midpoint loss of $10.0 million. Fluence attributed the changes primarily to delays ramping up its contract manufacturing facility in Houston, despite strong domestic and international demand and continued solid performance from its international supply chain. The company is restructuring its operational organization and simplifying planning across supply chain, manufacturing and delivery functions. Its contract manufacturer has taken corrective action, increasing daily production levels. Fluence said its priority is converting backlog into revenue and cash while managing working capital, with an objective of achieving neutral to positive operating cash flow without external capital as it develops fiscal 2027 plans. The company also appointed Bernerd Da Santos as Executive Vice President and Chief Operating Officer. Da Santos was previously Senior Strategic Advisor to the President of The AES Corporation and held several operational leadership roles at AES, including Chief Operating Officer. Fluence plans to release a detailed fiscal 2027 business plan and financial update alongside its fiscal 2026 results.