However, in the most recent quarter, the performance in the company’s core business suffered, reporting a Q3 adjusted loss of 30 cents which missed Street estimates by 3 cents. ![]() A few of its large customers are those that have massive warehouses in which transport is required. For the full year, the loss is expected to widen from 82 cents per share a year ago to $1.05 per share, while full-year revenue of $763.33 million would rise 52% year over year.įounded in 1997, Plug Power manufactures fuel cell products - the type that replace lead-acid batteries in vehicles and industrial trucks. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, has. This compares to the year-ago quarter loss of 33 cents per share on revenue of $161.91 million. LATHAM, N.Y., Ma(GLOBE NEWSWIRE) - Plug Power Inc. Investors are anxious to hear what the company has to say on Wednesday about its growth expectations for both the near term and long term.įor the three months that ended December, Wall Street expects Plug Power to report a per-share loss of 25 cents on revenue of $277.39 million. On the bright side, the backlog - a predictor of higher future revenue - was higher. In Q3, core material handling revenues were down year-over-year, while gross margin barely budged. This suggests that analysts have very recently bumped up their estimates for PLUG, giving the stock a Zacks Earnings ESP of +15.10 heading into earnings season. Gupta noted that Plug Power is in strong position to lead the clean hydrogen and fuel-cell market which could be worth as much as $10 trillion. Citing the company’s potential in the green hydrogen industry as it "aims to be a one stop shop and market leader in the space,” Gupta initiated coverage of the stock a Buy rating and 12-month price target of $26.įrom current levels of around $14 per share, Gupta’s target assumes an 85% potential premium. ![]() Although the company has struggled recently with execution, shares could go higher still, according to Manav Gupta, analyst at UBS. Its shares have risen close to 20% year to date, besting the 4% rise in S&P 500 index. However, long-term investors who have waited patiently for power play are feeling energized so far in 2023. The company hosted a conference call that day to discuss earnings results with securities analysts and institutional investors.
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