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Plug Power GenDrive Sales for 2016 Exceed Expectations
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A leading operator in fuel cell technology, Plug Power Inc. (PLUG - Free Report) announced that it installed 4,010 GenDrive fuel cell units in 2016, which exceeded its previously issued annual guidance of 3,800 to 4,000 units for the year.
Behind the Strong Performance
The primary reason behind the strong performance of the company is the higher acceptance of GenDrive fuel cells by customers like Carrefour Group, Wal-Mart Stores Inc. (WMT - Free Report) , BMW, and The Home Depot Inc. (HD - Free Report) .
Why GenDrive Fuel Cells?
GenDrive fuel cell is an excellent alternative to the industrial lead-acid batteries in electric class-1, class-2 and class-3 material handling equipment. It can provide continuous power to trucks at all times, even in temperatures as low as -22°F.
GenDrive fuel cell solution replaces the lead-acid batteries in electric lift trucks and enables customers to increase their productivity. In addition, the cells with lower maintenance costs and practically zero emission could lower operational costs.
Usage of GenDrive Units on the Rise
Thanks to the benefits the GenDrive units offer compared to lead-acid batteries, their usage is expanding. GenDrive Fuel cells are widely used in Manufacturing, Retail and Food industry as the customers do not face the disadvantage of progressive battery droop, timely battery changes and costly battery charges. GenDrive customers can expect 5–6% productivity savings through the usage of this technology.
Price Movement
The shares of Plug Power lost 26.6% in the last three months as against a gain of 7.9% of the Zacks categorized Manufacturing- Electronics industry.
ABB Ltd. surpassed its last quarter’s earnings estimates by 10.3%. The Zacks Consensus Estimate for 2016 increased 5.1% in last 60 days to $1.03 per share.
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Plug Power GenDrive Sales for 2016 Exceed Expectations
A leading operator in fuel cell technology, Plug Power Inc. (PLUG - Free Report) announced that it installed 4,010 GenDrive fuel cell units in 2016, which exceeded its previously issued annual guidance of 3,800 to 4,000 units for the year.
Behind the Strong Performance
The primary reason behind the strong performance of the company is the higher acceptance of GenDrive fuel cells by customers like Carrefour Group, Wal-Mart Stores Inc. (WMT - Free Report) , BMW, and The Home Depot Inc. (HD - Free Report) .
Why GenDrive Fuel Cells?
GenDrive fuel cell is an excellent alternative to the industrial lead-acid batteries in electric class-1, class-2 and class-3 material handling equipment. It can provide continuous power to trucks at all times, even in temperatures as low as -22°F.
GenDrive fuel cell solution replaces the lead-acid batteries in electric lift trucks and enables customers to increase their productivity. In addition, the cells with lower maintenance costs and practically zero emission could lower operational costs.
Usage of GenDrive Units on the Rise
Thanks to the benefits the GenDrive units offer compared to lead-acid batteries, their usage is expanding. GenDrive Fuel cells are widely used in Manufacturing, Retail and Food industry as the customers do not face the disadvantage of progressive battery droop, timely battery changes and costly battery charges. GenDrive customers can expect 5–6% productivity savings through the usage of this technology.
Price Movement
The shares of Plug Power lost 26.6% in the last three months as against a gain of 7.9% of the Zacks categorized Manufacturing- Electronics industry.
Zacks Rank & Key Pick
Plug Power currently has a Zacks Rank #4 (Sell). A better-ranked stock in the same space is ABB Ltd. sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ABB Ltd. surpassed its last quarter’s earnings estimates by 10.3%. The Zacks Consensus Estimate for 2016 increased 5.1% in last 60 days to $1.03 per share.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>