Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Plug Power Soars After Reaffirming Guidance, Earnings Beat

Published 08/06/2020, 01:58 PM
Updated 08/06/2020, 01:58 PM
© Reuters.

Investing.com -- Plug Power (NASDAQ:PLUG) jumped 20% after earnings beat estimates and the company reaffirmed its outlook.

A loss per share of 3 cents beat the forecast loss of 10 cents on sales of $68 million. Analysts tracked by Investing.com had expected revenue of $57 million.

Full year guidance for 2020 was reaffirmed and third quarter gross billings was forecast at between $110 million and $115 million. The company also said it set 2024 financial targets to achieve $1.2 billion in revenue, up from $1 billion, $200 million in operating income, up from $170 million, and $250 million in adjusted earnings before interest, taxes, depreciation and amortization, up from $200 million.

The manufacturer of hydrogen fuel cell systems reported record deployments in the second quarter.

Shares have almost quadrupled in 2020, and have eight buy ratings, two holds and no sells.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.