Plug Power revenue: PLUG stock slides 7% on EPS results

<p>Plug Power (NASDAQ: PLUG) revenues for the fuel cell company’s fiscal fourth quarter 2019 2019, PLUG shares fall on Thursday. This follows reporting-adjusted losses per share of -6 cents and revenue of $ 91.7 million. There are mixed results next to Wall Street estimates of -6 cents per share on revenue of $ 93 million.

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That said, let’s take a closer look at the latest Plug Power revenue report.

Adjusted losses per share are 14.3% better than -7 cents in the first quarter of 2019. Revenue is 53.3% higher than USD 59.8 million during the same period last year. The operating profit of – 7.5 million dollars is an improvement of 41.9% compared to the year before from – 12.9 million dollars. The Plug Power earnings report also has a net loss of $ 18.3 million. That’s 8.3% worse than the net loss of – $ 16.9 million from the same period last year.

Andrew Marsh, President and CEO of Plug Power, and CFO Paul Middleton said the following about PLUG share income:

“The company achieved record billing in 2019 of $ 94.5 million in the fourth quarter of 2019 and $ 236.8 million for the full year. The company distributed over 2,400 fuel cell units during the fourth quarter of 2019 and over 6,300 for the entire year. ”

The Plug Power revenue report provides guidance for the entire fiscal year 2020. This expects the company to report a gross invoice of $ 300 million. This corresponds to an increase of more than 25% in gross invoicing growth from the previous year.

The PLUG share fell 6.6% as of Thursday afternoon.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/plug-power-earnings-drop-plug-stock/.

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