Shares of Plug Power Inc.
rallied 1.8% in premarket buying and selling Tuesday, after the hydrogen gasoline cell firm reported a wider-than-expected first-quarter loss but revenue that rose above expectations as product revenue greater than doubled. The internet loss for the quarter to March 31 was $60.75 million, or 12 cents a share, after a loss of $37.45 million, or 12 cents a share, within the year-ago interval. The FactSet consensus for per-share loss was Eight cents. Revenue jumped 76.3% to $71.96 million, above the FactSet consensus of $71.50 million. Sales of gasoline cell techniques and associated infrastructure elevated 128.5% to $46.77 million, and product gross margin improved to 38%, regardless of unusually excessive freight prices, from 32%. The stock has dropped 12.0% 12 months thus far by way of Monday but has soared 435.9% over the previous 12 months. The S&P 500
has gained 12.5% this 12 months and rallied 35.5% over the previous 12 months.