Categories AlphaGraphs, Analysis, Energy

Earnings: Plug Power shrinks Q3 loss as revenue beats estimates

Hydrogen fuel cell maker Plug Power Inc (PLUG) posted its third-quarter earnings result before the opening bell on Thursday, November 8. Net revenue for the period soared 54% to $53.2 million, beating the Street estimate of $48.56 million. The stock rose 1.55% in premarket trade following the results.

Net loss shrunk to $15.56 million or $0.07 per share, vs. last year’s loss of $40.98 million or $0.18 per share. The company, however, posted a gross profit of $4.4 million for the third quarter of 2018, compared to a $19.4-million loss a year ago.

In the quarter of 2018, Plug Power sold more 1,400 GenDrive fuel cell units and seven GenFuel hydrogen stations, and delivered products to nine different customers.

Due to this topline growth, the company recently lifted its gross revenue targets to $175-190 million for fiscal 2018. At quarter-end, Plug Power had a total cash of $62.1 million, including cash and cash equivalents of $13.8 million and restricted cash of $48.3 million.

To adhere to the demand, Plug Power also launched a new manufacturing facility in Clifton Park, with the support of NY State’s Empire State Development. The company also announced that as of Nov 8, Plug Power has the capacity to produce about 20,000 fuel cell products annually.

Plug Power third quarter 2018 Earnings Infographic





Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text.

Most Popular

Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues

Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5

Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights

Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the

Add Comment
Viewing Highlight