Categories AlphaGraphs, Energy, Technology

Earnings Preview: Plug Power sees 40% jump in yearly revenue as it reports Q4 results

Hydrogen fuel-cell maker Plug Power (PLUG) is expected to post its fourth-quarter 2018 earnings on Thursday, March 7, before the opening bell.

Back when the year kicked off, Plug Power said it was looking at a preliminary revenue of $60 million to $63 million in the quarter.

For the whole year, Plug Power sees about $182-185 million in revenue, jumping 40% from last year. Plug Power also estimates to achieve $235-245 million worth gross billings for the year.

Plug Power Earnings
Plug Power’s GenSure E-2200x fuel cell (Courtesy: Plug Power)

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.

It is expected that Plug Power will benefit from this as it announces its quarterly results on Thursday.

 

LOOKING BACK

In the previously reported third quarter, Plug Power sold at least 1,400 GenDrive fuel cell units and seven GenFuel hydrogen stations — delivering products to nine different customers.

Plug Power third quarter 2018 Earnings Infographic

Back in November, Plug Power also announced the launch of its 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 then raised shareholder confidence, as it then sent the stock up when the results were announced. If the latest results beat estimates, this trend is expected to continue.

 

(Update: Removed market consensus from an earlier version of the story since the company has already posted preliminary results)

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top