Plug Power Inc (NASDAQ:PLUG)’s President and CEO Andy Marsh will host a conference call today, where the management will provide business updates. The conference call is scheduled for 10:00 a.m. ET, and interested listeners can access it by calling 877-407-8291.
What to expect from Plug Power conference
Plug Power Inc (NASDAQ:PLUG) has completed 9 GenKey deals, for almost $80 million in bookings. GenKey is the amalgamation of GenDrive hydrogen fuel cells, GenFuel hydrogen fuel distribution and infrastructure and GenCare service. GenKey helps users to easily convert to fuel cell power for their material handling sites.
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The company will also provide details on its plans for ReliOn, the developer of hydrogen fuel cell stack technology and fuel cell systems, which was acquired in March 2014. After the acquisition, Plug Power is the owner of fuel cell stack technology that is capable of fueling GenDrive fuel cell products.
Marsh will also describe Plug Power’s growth strategy along with the geographic penetration and market diversification. Plug Power Inc (NASDAQ:PLUG) is taking the advantage of its leadership position in the industry to increase business growth.
Good year so far
On Thursday, shares of Plug Power Inc (NASDAQ:PLUG) surged 3.39% capitalizing on gains after the company unveiled details of its conference call. The company also restated its plans for the first quarter results scheduled on May 14, 2014. Analysts are expecting a first quarter loss of $.05 per share on revenue of $5.35 million, compared to a loss of $.18 per share and revenue of $6.4 million in the corresponding quarter of last year.
Plug Power Inc (NASDAQ:PLUG) has gained substantially in 2014 by winning a contract with Wal-Mart for the supply of 1,738 GenDrive fuel cells units in addition to offering infrastructure and fueling services to six of Wal-Mart’s distribution centers. Though Wal-Mart is a client of Plug Power since 2007, this deal specifically holds importance as it is the biggest single order ever received by the company from a single client.
CEO Andy Marsh stated during the fourth quarter conference call that the company clinched a contract from an automobile manufacturer, which encouraged investors on the prospects of company’s fuel cell systems, although this statement was later clarified. Plug Power Inc (NASDAQ:PLUG) is hunting down new markets for its fuel cell system.