From other sites
at Zacks.com (Nov 13, 2014)
at Zacks.com (Nov 13, 2014)
at Zacks.com (Nov 5, 2014)
at CNBC.com (Oct 20, 2014)
at CNBC.com (Oct 8, 2014)
at CNBC.com (Oct 8, 2014)
at MarketWatch.com (Sep 11, 2014)
at MarketWatch.com (Aug 14, 2014)
at CNBC.com (Aug 14, 2014)
at CNBC.com (Aug 14, 2014)
There are 4 articles on this stock available only to PRO subscribers.
Update: Plug Power's Q3 2014 Sheds More Light On The ReliOn Acquisition
- Plug Power gave more details about its acquisition of ReliOn, its impact on revenue and how its products are fitting into Plug Power.
- I had characterized the acquisition as positive but minor before, and noted that Plug Power had acquired ReliOn for its experience and product portfolio rather than for business opportunities.
- ReliOn products have only contributed $1.5 million in revenue in Q2 and Q3. Another deal is expected to add $4 million per year, a small percentage of total revenues.
- The ReliOn acquisition is allowing Plug Power to diversify its stack supply, with potentially 50% of its air-cooled stacks becoming internally supplied.
- It was a good strategic move by Plug Power at a low cost, but wasn't going to create tons of new business on its own as some comments had asserted.
- GenDrive margins and service margins both fell.
- Average selling prices fell from around $18,000 to $15,000 for the quarter.
- Plug Power is not a short because the Plug has plenty of money on the balance sheet to turn things around.
Update: Plug Power Q3 Earnings, No Profits In Sight
- Q3 2014 EPS reported of -$0.04 per share was up from -$0.09% a year ago.
- Q3 revenue reported was $19.9 million, up from $4.6 million a year ago.
- The Q3 report has confirmed my earlier bearish opinion of the stock.
Update: I Remain Positive Despite Less Than Impressive Earnings By Plug Power
- The company reported third quarter earnings, which fell below the market expectations.
- I did not expect the third quarter revenues to fall below the consensus estimates.
- Despite poor results for the third quarter, I remain positive and believe the company is positioning itself well for future growth.
- Plug Power reported Q3 earnings and revenue that missed analyst estimates.
- Product revenue was lower than expected due to lower ASPs and margins missed management’s expectations.
- The company lowered the full-year revenue target to $70 million to $75 million.
- A bad quarter does not make a trend, and the long-term prospects are still compelling.
- Reiterating my bullish view on Plug Power, but seeing short-term pressure due to poor Q3 figures.
Update: This Move Will Open New Markets For Plug Power
- The company has announced that ReliOn will be structured as the stationary power product brand.
- This decision will open new markets for the company and it will also open Plug Power to new competition.
- We did not expect this move from the company.
Update: Plug Power Reports A Q3 Miss But I Am Not Throwing In The Towel
- Plug Power has just reported its third quarter earnings and while they were impressive year-over-year, they missed my expectations.
- I predicted a loss of just $0.02 per share but Plug lost $0.04 per share.
- Despite this setback I am not throwing in the towel on the stock.
Plug Power: My Expectations About The Third-Quarter Earnings
- The company is positioning itself nicely with contracts on the supply side as well as the demand side.
- Plug Power will likely beat the analyst estimates on the top-line for the third quarter.
- I am expecting the company to report expanded gross margins.
- Plug Power might not be able to beat analyst estimates on the bottom-line, as the growth in operating expenses is also expected to be strong.
Update: Another Contract Win - One More Reason To Be Bullish About Plug Power
- The company announced a contract to provide 110 GenDrive units to the New Refrigerated Meat Warehouse in Newark, New Jersey.
- The contract win further vindicates our view that the growing benefit to the retailers will result in more orders for the company.
- The contract has the potential to bring $1.98-2.4 million in revenues for the company (based on our average estimated unit price).
- Plug Power won a 110 unit order from Newark Farmers Market on November 6th.
- The order does not alter my sidelines stance on the company.
- Given management guidance, the market anticipates that Plug Power will win many new orders and renewals going forward.
Update: This New Contract Will Help Plug Power Establish A Better Infrastructure
- Plug Power announced a contract with Praxair for the distribution of hydrogen.
- We have highlighted the importance of infrastructure in the past, and this contract will help the company establish a better infrastructure.
- The contract will also help Plug Power reduce manufacturing costs to some extent, and it should ensure a smooth manufacturing process due to the addition of a good supply source.
Plug Power: A Puzzling Rally On A Food Distributor's Order
- Plug Power won a 39 vehicle order from Golden State Foods that subsequently sent its stock rallying over 15%.
- The rough numbers associated with the order do not justify the rally.
- Plug Power needs to continue winning orders to justify its market cap.
Update: Plug Power Signs Deal With Praxair, Another Sign Plug Is The Real Deal
- PLUG has now signed a long-term hydrogen distribution agreement with Praxair.
- I opined that PLUG could deliver some strong returns as it was seeking new deals for its GenKey package deal but did not anticipate a distribution deal with Plaxair.
- This deal is bullish in my opinion, and despite a 20% rise in shares since my article a few weeks ago I rate shares a buy.
Plug Power Jumps On Distribution Deal With Praxair
Update: Another Contract Win By Plug Power Supports Our Bull Case
- The company announced a new contract with Golden State Foods.
- We have mentioned in a previous article that increased benefit to retailers will result in more contracts.
- The announcement has augmented our bull case.
Update: Plug Power Secures New Deal, Q4 Is Off To A Great Start
- Plug has a deal with Golden State Foods to supply 39 fuel cells.
- I recently opined that the company could secure new deals with companies and that Q4 could be breakeven if not profitable.
- This announcement is a timely supplement that enhances my thesis.
- Plug Power continues to trade at high P/S and P/B multiples, and to struggle with GAAP profits.
- Aside from the fuel cell technology, Plug's management team has a history of diluting shareholders.
- Of the three major ways by which corporations raise money, Plug is likely in the future again to choose equity raises, which will dilute shareholders.
- Coverage of Plug Power has been limited of late and after driving by the company's home base I felt compelled to opine.
- Have you missed the boat?
- Why the stock might just be a real investment.
- What will make or break the company to close out the year.
Update: Plug Power's Massive Growth Numbers Have Augmented Our Bull Case
- The company announced year-over-year growth of 450% in GenDrive shipments for the third quarter.
- Plug Power has seen increased demand from its customers in North America.
- The news has reaffirmed our bull case about the company.
Tue, Nov. 18, 10:39 AM
- Plug Power (PLUG +6.2%) has completed the installation of its first GenFuel hydrogen infrastructure for ground support equipment at the Memphis Airport.
- "Plug Power's ability to offer customers both indoor and outdoor GenFuel solutions allows us to broaden our reach even further into adjacent markets like ground support equipment," says CEO Andy Marsh.
- The GenFuel infrastructure deployment includes a standard hydrogen storage tank, compression system and fuel pipelines. Plug has also installed its first outdoor GenFuel hydrogen dispensers that will be used for a 15-truck fleet of airport tuggers powered by company fuel cells.
Wed, Nov. 12, 3:59 PM
- Plug Power (PLUG -16.6%) bumps along near its lows of the day following its Q3 earnings miss and downside revenue guidance.
- In its earnings conference call, PLUG lowered its FY 2014 revenue guidance to $70M-$75M vs. prior guidance of $75M, and expects to ship 900-1000 Gendrive units in Q4; reaffirms its 2014 bookings guidance of $150M.
- PLUG sees product gross margins expanding to 25% gross margins by year-end 2015; sees service gross margins ~10% region during the period.
- Says it is attempting to build a new large scale hydrogen plant, and may seek partners or acquisitions.
- Also: FCEL -6.6%, BLDP -8.6%, ZBB -3%.
Wed, Nov. 12, 12:45 PM
Wed, Nov. 12, 9:18 AM
Wed, Nov. 12, 7:49 AM
- Adjusted net loss of $7.5M, or -$0.04 per share vs. a net loss of $7.7M, or -$0.09 in the same quarter a year ago.
- The company shipped 857 of its GenDrive units during the quarter, 5x the 155 units shipped a year ago.
- R&D expenses of $1.6M vs. $0.8M for the third quarter of 2013; SG&A expenses of $5M vs. $2.8M.
- Cash and cash equivalents of $156.5M and net working capital of $177.6M vs. $5M and $11.1M, respectively, at December 31, 2013.
- Q3 results
- PLUG -16% premarket
Wed, Nov. 12, 7:10 AM
Tue, Nov. 11, 5:30 PM
Tue, Nov. 11, 7:42 AM
- Plug Power (NASDAQ:PLUG) has restructured its brands, and is now placing its ReliOn division under the larger powerhouse umbrella of Plug Power.
- "Pulling the two groups together is a natural evolution for Plug Power as we grow and scale our business," says CEO Andy Marsh. "We've operated as one company since April, and now it's time we all share the same identity as Plug Power."
- The ReliOn name will now represent the product brand of Plug Power's stationary power product line.
- PLUG +1.5% premarket
Mon, Nov. 3, 5:49 PM
- Plug Power (NASDAQ:PLUG) continued to climb today, building on the fuel-cell manufacturer's announcement last week about a new deal to supply Golden State Foods with its GenDrive zero-emission hydrogen fuel cells for use in powering 39 of its material handling vehicles.
- PLUG previously has said it expects its product and service orders to triple over year-ago levels, possibly lifting the company to its first profit since 1999.
- PLUG jumped 9% today and nearly 17% since the news; peers FuelCell Energy (NASDAQ:FCEL) and Ballard Power (NASDAQ:BLDP) both rose more than 5% today.
Mon, Oct. 13, 4:09 PM
- Solar and fuel cell companies are among the biggest decliners on a day that saw NYMEX crude oil prices fall below $85/barrel (they're now slightly above), and Reuters report the Saudi government "will accept oil prices below $90 per barrel, and perhaps down to $80, for as long as a year or two." The Nasdaq as a whole finished down 1.4%.
- Of note: Oil only accounts for 1% of U.S. electricity production, and also a small percentage of electricity output in many other large economies.
- Solar decliners: SUNE -10.7%. FSLR -5.9%. SCTY -9.7%. DQ -9.4%. CSIQ -8.1%.JASO -7.7%. SOL -8.6%. TERP -7.5%. JKS -6.7%. CSUN -5.9%. VSLR -6.3%. TSL -8.7%. YGE -5%.
- Fuel cell decliners: FCEL -6%. PLUG -4.7%. BLDP -7.4%.
- Solar ETFs: KWT, TAN
Fri, Oct. 10, 7:55 AM
- Plug Power (NASDAQ:PLUG) +3.4% premarket after saying it closed out Q3 with 857 GenDrive units shipped to material handling customers in North America, a 450% Y/Y increase, and it expects to ship 900-1,000 units in Q4.
- Reaffirms FY 2014 guidance for $75M in revenues vs. $76M analyst consensus estimate and $150M in bookings.
Thu, Oct. 9, 7:42 AM
- Ballard Power (NASDAQ:BLDP) +9.1% premarket on news it signed a long-term supply agreement with Plug Power (NASDAQ:PLUG) to provide fuel cell stacks for use in GenDrive systems deployed in forklift trucks.
- BLDP says the new agreement replaces an existing agreement and creates an opportunity for it to remain in a leading supply position for fuel cell stacks in PLUG's GenDrive systems.
- PLUG +2.8% premarket.
Wed, Oct. 8, 3:39 PM
- Plug Power (PLUG +5.2%) shares are strong amid a visit from NY Gov. Cuomo to the company's corporate headquarters, where the governor discussed the "dramatic positive impact" he expects from the recent 0% manufacturing tax for operations in the state.
- "As Plug Power continues its accelerated growth path, statewide policies that support job growth can help the company bring more jobs to this region," the company says.
Mon, Sep. 29, 10:56 AM
- Plug Power (PLUG +3.9%) pops higher, apparently thanks to an updated blog post on its website that discusses the automotive manufacturing market and the way the industry has "recognized the advantages of hydrogen fuel cells."
- PLUG has helped Volkswagen, BMW, Mercedes-Benz and Honda utilize GenDrive fuel cells, including the complete GenKey solution in some cases, according to the company.
Tue, Sep. 23, 2:36 PM
- Plug Power (PLUG +2.1%) spikes higher after CEO Andy Marsh is quoted in the Albany Business Review as saying the company is on track for $130M in revenue in 2015, which would be above the analyst consensus estimate for $126M, and will generate more than $75M in revenue this year.
- Plug says it reached an agreement with M&T Bank to offer financing packages for the first time to customers looking to purchase fuel cells, refueling stations and service agreements, which Marsh says will help ease the transition from customers that are interested in making the switch from diesel and battery powered equipment to equipment powered by hydrogen fuel cells.
Tue, Sep. 9, 3:25 PM
- FuelCell Energy's (FCEL -10.3%) FQ3 earnings may have been disappointing but that doesn’t take away from the longer-term trends supporting the stock, Cowen analysts say.
- Product sales levels were indeed disappointing at $43.2M, 20% lower Y/Y, but short-term cash and cash equivalent totaled $113M, ~16% of market cap, the firm observes; total backlog rose marginally to ~$350M, but that represents ~50% of market cap, and gross margin of 9.2% was a notable Y/Y increase from 8.4%.
- Investors should watch for any news of additional projects with NRG Energy (NRG -0.9%), which has bought $35M in FCEL shares and extended a $40M loan to help toward completing projects.
- FCEL peers PLUG -4.7% and BLDP -4.2% also are sharply lower.
PLUG vs. ETF Alternatives
Plug Power Inc is a provider of alternative energy technology. The Company engaged in the design, development, commercialization and manufacture of fuel cell systems for the industrial off-road market.
Other News & PR