Plug Power (NASDAQ:PLUG) earnings for the hydrogen fuel cell company’s fiscal fourth quarter of 2019 have PLUG stock falling on Thursday. This follows reporting adjusted per-share losses of -6 cents and revenue of $91.7 million. Those are mixed results next to Wall Street’s estimates of -6 cents per share on revenue of $93 million.
That said, let’s take a closer look at the most recent Plug Power earnings report.
- Adjusted losses per share are 14.3% better than the -7 cents during the fiscal first quarter of 2019.
- Revenue comes in 53.3% higher than $59.8 million during the same time last year.
- Operating loss of -$7.5 million is a 41.9% improvement year-over-year from -$12.9 million.
- The Plug Power earnings report also has net loss coming in at -$18.3 million.
- That’s 8.3% worse than its net loss of -$16.9 million from the same period of the year prior.
Andrew Marsh, president and CEO of Plug Power, and CFO Paul Middleton said the following about the PLUG stock earnings:
“The company achieved record gross billings in 2019 of $94.5 million in the fourth quarter of 2019 and $236.8 million for the full year. The company deployed over 2,400 fuel cell units in the fourth quarter of 2019 and over 6,300 for the full year.”
The Plug Power earnings report includes guidance for the full fiscal year of 2020. This has the company expecting to report gross billings of $300 million. That represents a more than 25% increase in gross billings growth from the previous year.
PLUG stock was down 6.6% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
