Plug Power Inc. (PLUG - Free Report) reported a loss of 12 cents per share in second-quarter 2018 results, wider than the Zacks Consensus Estimate of a loss of 8 cents by 50%.
The figure was wider than a loss of 10 cents incurred in the year-ago quarter.
Total Revenues
Plug Power’s quarterly revenues of $39.9 million lagged the Zacks Consensus Estimate of $42 million by 5%. The figure surged 75% from $23 million in the year-ago quarter.
Highlights of the Release
In the quarter under review, Plug Power initiated the shipping of new GenDrive 2440-36R fuel cell system for Class-2 electric forklifts.
Total operating expenses amounted $20.6 million compared with $24.5 million in the year-ago quarter. The downside was primarily caused by 31.6% fall in Selling, general and administrative expenses.
Plug Power, Inc. Price, Consensus and EPS Surprise
Financial Update
As of Jun 30, Plug Power’s cash and cash equivalents were $15 million compared with $24.8 million as of Dec 31, 2017.
As of Jun 30, Long-term debt was $15.3 million, compared with $13.4 million as of Dec 31, 2017.
Net cash used in operating activities at the end of first half 2018 was $45.2 million compared with $58.3 million in the year-ago period.
Guidance
Plug Power expects sales in the third quarter within the range of $47-$52 million.
The company projects 2018 revenue guidance in the range of $155-$180 million and projected positive EBITDAS in the second half of 2018.
Zacks Rank & Stocks to Consider
Plug Power currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks from the same sector are Altra Industrial Motion Corp , Pentair plc (PNR - Free Report) and Roper Technologies, Inc (ROP - Free Report) . While Altra Industrial Motion sports a Zacks Rank #1 (Strong Buy), Pentair and Roper Technologies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion surpassed estimates thrice in the trailing four quarters with an average positive earnings surprise of 4.01%.
Pentair exceeded earnings estimates thrice in the trailing four quarters, the average beat being 2.50%.
Roper Technologies surpassed earnings estimates in each of the trailing four quarters, the average beat being 4.48%.
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Plug Power Inc. (PLUG - Free Report) reported a loss of 12 cents per share in second-quarter 2018 results, wider than the Zacks Consensus Estimate of a loss of 8 cents by 50%.
The figure was wider than a loss of 10 cents incurred in the year-ago quarter.
Total Revenues
Plug Power’s quarterly revenues of $39.9 million lagged the Zacks Consensus Estimate of $42 million by 5%. The figure surged 75% from $23 million in the year-ago quarter.
Highlights of the Release
In the quarter under review, Plug Power initiated the shipping of new GenDrive 2440-36R fuel cell system for Class-2 electric forklifts.
Total operating expenses amounted $20.6 million compared with $24.5 million in the year-ago quarter. The downside was primarily caused by 31.6% fall in Selling, general and administrative expenses.
Plug Power, Inc. Price, Consensus and EPS Surprise
Financial Update
As of Jun 30, Plug Power’s cash and cash equivalents were $15 million compared with $24.8 million as of Dec 31, 2017.
As of Jun 30, Long-term debt was $15.3 million, compared with $13.4 million as of Dec 31, 2017.
Net cash used in operating activities at the end of first half 2018 was $45.2 million compared with $58.3 million in the year-ago period.
Guidance
Plug Power expects sales in the third quarter within the range of $47-$52 million.
The company projects 2018 revenue guidance in the range of $155-$180 million and projected positive EBITDAS in the second half of 2018.
Zacks Rank & Stocks to Consider
Plug Power currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks from the same sector are Altra Industrial Motion Corp , Pentair plc (PNR - Free Report) and Roper Technologies, Inc (ROP - Free Report) . While Altra Industrial Motion sports a Zacks Rank #1 (Strong Buy), Pentair and Roper Technologies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion surpassed estimates thrice in the trailing four quarters with an average positive earnings surprise of 4.01%.
Pentair exceeded earnings estimates thrice in the trailing four quarters, the average beat being 2.50%.
Roper Technologies surpassed earnings estimates in each of the trailing four quarters, the average beat being 4.48%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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