Fuel cell maker Plug Power announced Friday that it will hold its annual shareholder meeting at 10:00 AM ET on Thursday, May 21. The meeting will be held at the InterContinental New York Times Square. Plug Power will also live webcast the event to allow people to access the audio and presentation slides. The shareholder meeting will be held ten days after the company reports its fiscal first-quarter results.
Plug Power to report Q1 results on May 11
The Latham, New York-based company is scheduled to report its Q1, 2015 results on May 11. Analysts on average expect the company to post 7 cents a share in quarterly losses, compared to 6 cents in a year ago quarter. Revenues are expected to skyrocket 225.30% to $18.13 million. For full-year 2015, Wall Street expects $103.22 million revenue and 22 cents a share in net losses.
The New York shareholder meeting will be part of Plug Power management’s six city tour between May 19 and June 4. Plug Power CEO Andy Marsh and other senior executives’ tour will cover Latham, New York City, Washington D.C., Dallas, Chicago and San Francisco. The company management will interact with shareholders, customers and other stakeholders during the trip.
Plug Power trying to woo investors
Andy Marsh said he wanted to interact directly with shareholders instead of conducting meetings around conference calls. The fuel cell maker has been trying to reach out to investors in a variety of ways. On May 5, Plug Power chief financial officer Paul Middleton presented at the Baird Growth Stock Conference. He also held one-on-one meetings with institutional investors after the presentation.
In the first leg of its six-city tour, Plug Power will allow investors and customers to visit its manufacturing facility in Latham. The company is redesigning its manufacturing floor there to boost efficiency and expand production capacity. Despite the fuel cell maker’s efforts to woo investors, its stock has declined more than 21% year-to-date.
Plug Power shares fell 2.03% to $2.41 at 1:59 PM EDT on Friday.