Earnings Results: Plug Power results come in below Street view following warning

by | Nov 9, 2022 | Stock Market

Plug Power Inc. shares fluctuated between small gains and losses in the extended session Tuesday after the hydrogen- and fuel-cell systems company made good on its warning a few weeks ago and results fell below Wall Street expectations. Plug Power
shares were last down about 1% after hours, following a 1.1% decline in the regular session to close at $14.81.

The company reported a third-quarter loss of $170.8 million, or 30 cents a share, compared with a loss of $106.7 million, or 19 cents a share, in the year-ago period. Revenue rose to $188.6 million from $143.9 million in the year-ago quarter. Prior to a warning issued by the company in mid-October that full-year revenue could be 5% to 10% below previous guidance, analysts surveyed by FactSet had forecast a loss of 24 cents a share on revenue of $240.6 million.

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