Plug Power and SodaStream released their latest earnings reports before opening bell this morning. Plug Power posted adjusted losses of 5 cents per share on $15.3 million in revenue or $30.1 million in adjusted revenue, against the consensus estimates of 6 cents per share in losses on $25.53 million in revenue. In last year’s first quarter, the company posted $9.4 million in revenue.
SodaStream posted earnings of 29 cents per share, against the consensus of 11 cents, on $100.9 million in revenue, compared to the consensus of $89 million. In last year’s first quarter, the company posted adjusted earnings of 40 cents per share on adjusted revenue of $91.3 million.
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Plug Power falls on earnings results
Plug Power posted a GAAP loss of 7 cents per share, compared to last year’s GAAP loss of 6 cents per share. The company’s gross margin was 1.1%, while the adjusted gross margin was 12.5%. the GenDrive gross margin was 36%. The hydrogen fuel cell system maker recorded $72 million in bookings, compared to last year’s $46 million. Plug Power continued shipping its systems to major customers Walmart, Lowe’s, BMW and Kroger. It finished three new GenKey customer sites during the quarter and deployed 834 GenDrive units, compared to last year’s 265 units.
Shares of Plug Power slipped 4.15% to $1.85 in premarket trading this morning.
SodaStream surges on strong results
SodaStream’s EBITDA climbed 61.76 to $12.3 million, compared to last year’s adjusted EBITDA of $7.6 million. In Western Europe, revenues rose 8% to $62.6 million, while Americas revenue increased 0.1% to $22.9 million. Asia Pacific revenues declined 0.2% to $8.8 million, while revenue from Central and Eastern Europe, the Middle East and Africa increased 1.7% to $6.6 million. Sparkling Water Maker Starter Kits revenue increased 3.4% to $29.6 million, while Consumables revenue increased 5.7% to $68.1 million. Other revenues climbed 0.5% to $3.2 million.
SodaStream’s gross margin declined to 50.7% from 52.3% on an adjusted basis last year on the back of currency exchange rate changes. SodaStream shares surged in premarket trading, climbing by as much as 12.29% to $16.54 per share.