Plug Power chief financial officer Paul Middleton will present at the Baird 2015 Growth Stock Conference on Tuesday, May 5. The fuel cell maker said in a statement that Middleton will present the company’s strategy to investors between 2:25 and 2:55 PM ET, and then hold one-on-one meetings with institutional investors. You can access the live webcast of his presentation via this link.
Plug Power launches a major drive to interact with investors
Middleton was named Plug Power’s CFO on December 1, 2014. The Latham, New York-based company has been trying to reach out to investors in a variety of ways. Between May 19 and June 4, Plug Power CEO Andy Marsh and other senior executives will go on a six-city tour to interact with retail investors, institutional investors as well as consumers. They will cover Albany, New York City, Dallas, Chicago, Washington DC and San Francisco.
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Plug Power CEO Andy Marsh said that he wanted to talk directly to investors rather than conducting meetings around conference calls. During the trip, Marsh will discuss revenue targets for current and next fiscal years, as well as the long-term growth strategy. Plug Power expects to generate $100 million revenue in the current fiscal year. Andy Marsh’s compensation in 2014 skyrocketed to $5.36 million from $752,863 in 2013.
Plug Power to report Q1 results next week
Plug Power is scheduled to release its fiscal first quarter results on May 11 before the market opens. The company had failed miserably to meet Wall Street expectations in Q4, 2014. For the first quarter, analysts expect the company to report 6 cents in losses on revenues of $17.20 million, up 208.60% from the corresponding quarter a year ago. For full-year 2015, analysts estimate $102.94 million in revenue and 20 cents a share in losses.
Plug Power manufactures fuel cells to power forklifts in distribution centers and warehouses. But it is expanding its addressable market to make fuel cells for refrigerated trucks and ground support equipment at airports. The company counts Wal-Mart, Kroger, Honda, Volkswagen and Procter & Gamble among its customers.
Plug Power shares rose 0.40% to $2.50 at 10:34 AM EDT on Monday.