Thursday, June 23, 2016 8:54:53 AM
It is June, the company has a target of 25 new sites this year and installed 3 in Q1 and may be were in the process of installing on at least one more. Walmart is rolling out at least 3 a quarter if not 4. Kroger one.
By June therefore they should have shipped to final installation site at least all the ones for Q2's books which should be about 7 so the 15 skids in the factory are for the complete rest of 2016 delivery.
That doesn't sound right at all does it?
Even if the visit was in April, 15 skids would represent all of Q2 and most of Q3 on the predicted 3,7,7,8 rollout (or whatever phasing they have contracted to)
So the conclusion has to be that the 15 included not just one new major customer but IMHO one or two pilot sites for new markets -whether this is the pico tank system for smaller DCs or the first tethered vehicle system who knows.
What it does remind us of is that PLUG has the installation dates of all 25 of its planned genFuel systems this year already (Walmart, Kroger and Home Depot installs) so any visibility of production in excess of these means new business and over achievement on their targets
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