Seeking Alpha Market Currents
Plug Power +9% premarket as orders seen quadrupling in 2014
Plug Power (PLUG) +8.9% premarket after issuing Q4 results that beat revenue estimates and predicting orders will rise more than fourfold this year to more than $150M.
Bookings reached $32M in the quarter, as strong product sales and maintenance orders were received from large companies such as Wal-Mart, Kroger, BMW and Mercedes-Benz; shipments fell 46% Y/Y to 279 units.
“I am more bullish than ever that Plug Power is moving into a rapid growth cycle,” CEO Andy Marsh says, expecting EBITDA to break even by Q3.