Seeking Alpha

Hydrogenics sees Q1 revenue below consensus, shares -11%

  • Hydrogenics (HYGS -11.3%) shares plunge in apparent reaction to Friday's report of preliminary Q1 revenue of $7M-$7.5M vs. analyst expectations of $11.7M.
  • HYGS reiterated its previously announced FY 2014 outlook that it will exceed $50M in revenue and will surpass breakeven adjusted EBITDA for the year.
  • Says it finished 2013 with $57M backlog, with ~$40M to be realized as revenue in 2014.
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