Plug Power adds to losses but analysts foresee brighter H2

|About: Plug Power, Inc. (PLUG)|By:, SA News Editor

Plug Power (PLUG -1.6%) extends yesterday's losses that followed disappointing Q2 earnings and revenue results, although the company sees a strong finish to the year, expecting ~70% of its $130M in FY 2017 revenue guidance expected in H2.

Analysts at FBR Capital say PLUG delivered "messy" Q2 results as it prepares for a big ramp in deployments with Amazon and Wal-Mart in H2; the firm believes PLUG is transitioning from reliance on material handling to broader fuel cell applications such as heavy-duty mobility, but it expects AMZN and WMT to drive more sustainable sales and improve revenue visibility.

Rodman & Rendhaw thinks PLUG's gross margins will bounce back with revenues ramping higher for the remainder of the year; it notes that PLUG deployed 891 GenDrive Units and installed four GenKey sites during Q2, and now has ~13K GenDrive units deployed and 46 sites under fuel delivery contract.


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