3 Things to Look For When Plug Power Reports Q3 Earnings
Expected to report third-quarter earnings on Nov. 8, Plug Power (NASDAQ: PLUG), a leader in fuel cell solutions, believes it will be starting off the second half of the year with a bang. In a letter to shareholders that accompanied the second-quarter earnings report, management claimed that Q3 will be a "benchmark quarter" for the company. What's fueling the optimism? Let's take a closer look at several things we can expect management to address.
Arguably, Plug Power's greatest achievement in the first half of the year was the strategic agreement it inked with Amazon. After successfully deploying Plug Power's fuel-cell solution at one of its warehouses in Q4 2016, Amazon plans to transition the forklift fleets at several of its distribution centers this year. According to Plug Power's management, this agreement with Amazon will contribute $70 million to Plug Power's top line in fiscal 2017.
Plug Power's hydrogen fuel cells will now be powering Amazon forklifts. Image source: Getty Images.
Source: Fool.com
Plug Power Inc. Stock
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