Categories AlphaGraphs, Earnings, Energy

Plug Power reports earnings miss in Q4

Hydrogen fuel-cell maker Plug Power (PLUG) reported a 92% jump in fourth-quarter revenue to $59.8 billion, narrowly beating average analysts’ consensus of $58.78 million. Meanwhile, loss for the quarter narrowed to 7 cents per share but came in worse than the street estimate of 5 cents per share.

In the fourth quarter of 2018, Plug Power sold over 1,900 GenDrive fuel cell units, dispensed 1.2 million tons of hydrogen into electric vehicles, built and commissioned three GenFuel hydrogen fueling stations, and delivered products to 15 different customers

Plug Power’s GenSure installation (CREDIT: GenSure Catalog by Plug Power)

For the full year, the top line jumped 74% to $174.6 million, while gross billings grew 42% to $184.8 million.

PLUG shares fell over 3% during pre-market trading on Thursday. The stock has gained 79% since hitting a yearly low in December.

plug power Q4 2018 earnings snapshot

READ: Huawei launches an offensive in America; sues the US government

The company said in a statement, “As we close 2018 and move into 2019, we see continued traction in the material handling market and expect four major business announcements in 2019 in varied adjacent markets, affirming our confidence with 2019 forecasts for $235 to $245 million in gross billings and adjusted EBITDA positive in 2019.”

“Based on numbers put forth in 2018 and our aggressive ramp in 2019, we expect Plug Power to be the largest US MEA supplier by year-end,” Plug Power added.

Plug Power predicts preliminary 2018 revenue to jump 40% from a year ago

Back in November, Plug Power had announced the launch of 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.


Earnings Call: Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

LUV Earnings: Key numbers from Southwest Airlines Q1 2021 financial results

Southwest Airlines Co. (NYSE: LUV) today reported its first quarter financial results for the period ended March 31, 2021. First quarter GAAP net income was $116 million, or $0.19 per

Infographic: American Airlines (AAL) posts Q1 2021 earnings today

Aviation company American Airlines Group Inc. (NASDAQ: AAL) reported its first-quarter 2021 earnings before regular market hours. The operating revenue for the first quarter of 2021 was down by 39% at

Infographic: How Biogen (BIIB) performed in Q1 2021

Biogen Inc. (NASDAQ: BIIB) reported first quarter 2021 earnings results today. Total revenues decreased 24% year-over-year to $2.6 billion. On a constant currency basis, revenues fell 25%. Net income attributable

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top