Markets Insider
- Plug Power, a leader in fuel-cell solutions, was tanking on Thursday after it gave bleak 2018 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 slated to report earnings on March 8.
- Shares are down 23.65% for the year.
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