Plug Power (PLUG) stock was down on Monday following its Q3 earnings report for 2015.
Plug Power reported losses per share of 6 cents for the third quarter of 2015. This is worse than the losses per share of 4 cents that it posted during the same time last year. It also failed to meet analysts’ estimates, which were set at losses per share of 5 cents.
Plug Power reported revenue of $31.4 million for Q3 2015. This is up from the $19.8 million that they reported during the third quarter of 2014. It also surpassed Wall Street’s estimates $30.7 million for the quarter.
‘”I am pleased with Plug Power’s execution in the business, and the fact that we have stayed on track and are on pace to achieve the goals and milestones laid out at the beginning of the year,” CEO Andy Marsh said in a statement. “Additionally, in the fourth quarter, we are on track for a third straight quarter of record revenues, a strong indicator of the attractiveness of Plug Power’s offering.”
PLUG shares were down 13% as of Monday afternoon.
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