Fuel cell provider Plug Power tumbles after giving a bleak outlook (PLUG)

pulse

February 8, 2018 5:26 PM

Shares of fuel cell provider Plug fell after it reported disappointing forward guidance.

Plug's stock is down 7.32% at $1.84 following the announcement.
The company said that it was anticipating a slate of "disappointments," including expedited costs, shortfalls due to service, and hydrogen costs, Bloomberg reported.
The company said its quarterly earnings for the fourth-quarter would come in at approximately $30 million, less than analyst's expectations of $34.6 million.
It expects 2018 revenue to be in the range of $155 million to $180 million, below Wall Street estimates of $214.6 million.
Its first-quarter 2018 guidance was $22 million to $24 million in revenue, short of the $38.4 million that analysts expected.
Plug is
Shares are down 23.65% for the year.