Plug Power earnings for the fourth quarter of 2018 have PLUG stock taking a hit on Thursday.
Plug Power (NASDAQ:PLUG) starts off its earnings report for the fourth quarter of the year with losses per share of 7 cents. This is an improvement over the company’s losses per share of 9 cents from the fourth quarter of 2017. However, it is still bad news for PLUG stock by coming in below analysts’ losses per share estimate of 6 cents for the period.
The Plug Power earnings report for the fourth quarter of 2018 also includes a net loss of $16.85 million. This is better than the company’s net loss of $19.44 million reported in the same period of the year prior.
Operating loss reported by Plug Power in the fourth quarter of the year was $12.92 million. The creator of hydrogen fuel cell systems reported an operating loss of $17.72 million for the fourth quarter of the previous year.
Plug Power earnings for the fourth quarter of 2018 also have revenue coming in at $59.82 million. This is an increase over the company’s revenue of $31.75 million reported during the same time last year. Despite that increase, the company’s revenue is still a blow to PLUG stock by missing Wall Street’s estimate of $60.33 million for the quarter.
Plug Power notes that it is expecting to see gross billings in 2019 to range from $235 million to $245 million. It is also looking for adjusted EBITDA during the year to be positive.
PLUG stock was down 5% as of Thursday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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