Categories Earnings, Energy, Technology
Plug Power predicts preliminary 2018 revenue to jump 40% from a year ago
Plug Power on Wednesday announced preliminary revenue of $182-185 million for 2018, jumping 40% from last year.
Plug Power also estimates to achieve $235-245 million worth gross billings for the year.
For the fourth quarter, preliminary revenue was in the range of $60 million to $63 million.
Back in the second quarter, Plug Power had acquired AFC, an organization that manufactures membranes — a key component in fuel cell stacks. By the fourth quarter, Plug Power started shipping products with Plug Power’s membranes.
REVISITING THE THIRD QUARTER
In the last reported quarter, Plug Power sold more 1,400 GenDrive fuel cell units and seven GenFuel hydrogen stations, and delivered products to nine different customers.
Back in November, Plug Power also announced that it launched a new manufacturing facility in Clifton Park, with the support of NY State’s Empire State Development. As of Nov. 8, Plug Power had the capacity to produce about 20,000 fuel cell products annually.
The battery maker’s upbeat results raised shareholder confidence, as it then sent the stock up when the results were announced.
Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips
Most Popular
BIIB Earnings: Biogen Q1 2024 adj. earnings rise despite lower revenues
Biotechnology firm Biogen Inc. (NASDAQ: BIIB) Wednesday reported an increase in adjusted profit for the first quarter of 2024, despite a decline in revenues. Total revenue declined 7% year-over-year to
Hasbro (HAS) Q1 2024 Earnings: Key financials and quarterly highlights
Hasbro, Inc. (NASDAQ: HAS) reported first quarter 2024 earnings results today. Revenues decreased 24% year-over-year to $757.3 million. Net earnings attributable to Hasbro, Inc. were $58.2 million, or $0.42 per
BA Earnings: Highlights of Boeing’s Q1 2024 financial results
The Boeing Company (NYSE: BA) on Wednesday announced financial results for the first quarter of 2024, reporting a narrower net loss, on an adjusted basis. Revenues dropped 8%. Core loss,