Plug Power (PLUG) Reports In-Line Q4 EPS

Plug Power (NASDAQ: PLUG) reported Q4 EPS of ($0.06), in-line with the analyst estimate of ($0.06). Revenue for the quarter came in at $91.7 million versus the consensus estimate of $92.99 million.

Strong Visibility in 2020

Plug Power has set guidance to achieve $300 million in gross billings in 2020. This is more than 25% gross billings growth year over year. The company already has a pipeline that provides over 90% visibility to the deployment target for 2020.This is reflective of an increase in multi-site orders from pedestal customers and growing adoption rates in existing and expansion markets due to confidence in the solution’s value proposition. The company’s strategic focus in 2020 includes leveraging the ProGen platform to expand into on-road and large-scale stationary markets, focusing on continuously reducing cost of capital, and executing on its hydrogen strategy. Plug Power strengthened its business in every way in 2019, including delivery of a strong financial performance, expanding its management team, strengthening its balance sheet, and executing on multiple strategic priorities. This foundation, paired with the clear strategies developed, gives a great deal of confidence in the company’s 2020 goals and beyond - as the company builds to the 2024 target of $1 billion in annual gross billings, over $170 million in operating income, and over $200 million in adjusted EBITDA.

For earnings history and earnings-related data on Plug Power (PLUG) click here.

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