Plug Power is on-track to achieve $130 million in revenue for 2015
Plug Power, one of the leading providers of clean and reliable energy solutions, is scheduled to report its financial results for the fourth quarter on Wednesday, January 28, 2015.
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Analysts’ expectations for Plug Power
Wall Street analysts are expecting Plug Power to deliver losses of $0.04 per share on $26.67 million revenue for the fourth quarter. The company posted losses of $0.08 per share on $8.03 million in revenue in the same period last year.
During the previous quarter, the company posted losses of $0.04 per share on $19.9 million in revenue, lower than the consensus estimate of -$0.03 in earnings per share on $24.4 million in revenue.
Based on the current expectations of analysts, Plug Power’s financial results are expected to improve significantly compared with its performance in the year-ago quarter.
Today, the stock price of Plug Power climbed 7% to $3.08 per share at the time of this writing around 11:52 A.M. in New York. Over the past 52 weeks, the shares of the company traded from $2.22 per share to as much as $11.72 per share.
Plug Power perceived as a strong long-term player
The stock is probably benefiting from positive perceptions that it poised to become a strong long-term player as it continues to improve its business operations.
Plug Power is expanding its fuel cell business in markets where it is more efficient and cost effective. The company is currently focused on the material handling market by producing fuel cells for refrigerated trucks and vehicles hauling luggage at airports.
Earlier this month, Plug Power CEO Andy Marsh stated that the company is on track to achieve $130 million in revenue this 2015 compared with the $123.7 million expected by analysts.
The company signed a multi-year contract with SouthernLINC, a wholly-owned subsidiary of The Southern Company. The telecommunications company agreed to use Plug Power’s ReliOn integrated fuel cell solution and GenFuel hydrogen services for its wireless network. SouthernLINC is expected to deploy 500 new LTE sites using Plug Power’s solutions and services.
Plug Power also entered into agreements with several companies including Wal-Mart Stores, FedEx Corporation, Volkswagen, BMW and others.
According to Marsh, Plug Power “fully understands the critical nature of communications during power outages.” He is confident that the company’s ReliOn hydrogen fuel cell power combined with the GenFuel hydrogen services ensures that the systems of its clients will remain up even when their grid goes down.