Plug Power Reports Third-Quarter Earnings, Disappoints Investors

Taking a cursory glance at Plug Power's (NASDAQ: PLUG) third-quarter earnings, investors found a mixed bag from the fuel-cell specialist. On one hand, the company met analysts' earnings expectations by reporting an $0.08-per-share adjusted loss, yet the company failed to deliver on the top line. Whereas analysts were looking for the company to report revenue of $59.2 million, Plug Power only booked $56.4 million on the top line. So what had investors so disappointed that shares fell nearly 7% from the day before the company reported to the day of the report?

With 2019 winding down, investors wanted to see that Plug Power was well on its way to meeting management's guidance for the year. Alas, some of the numbers didn't seem to point in that direction. Let's take a closer look at the particulars to see what the market found so disconcerting.

Image source: Getty Images.

Source Fool.com