Plug Power Inc (PLUG): Q1 is always going to be weak since they...

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uksausage

Re: scubastevemd post# 35025

Monday, 12/17/2018 10:49:27 AM

Monday, December 17, 2018 10:49:27 AM

Q1 is always going to be weak since they can only book revenues for projects delivered in that quarter - not that are partially underway.

this would include
- additional genDrives for any expanding customer (but they all bought in Q3 and Q4 to handle the holiday traffic - no one is expanding in Q1)

- any completed GenFuel infrastructure sites in Q1 these would have started in Q4 in warm weather states. I think PLUG can book even if the Distribution center attached hasn't been completed. Would apply to new sites only as no existing Distribution center has work going on in Q4.

- any completed distribution centers in warmer climate states. This could apply for New Amazon DCs and possibly a Walmart DC's.

The phasing of installations is known well in advance - typically they are on a 12 month rolling timetable so PLUG knows what they are installing for Amazon and Walmart in Q3 next year already.

The only unknown at the moment is for other customer orders -existing or new, but Q1 will not be a time for booking significant business as revenues but if they want to be installed in 2019 they need to order ASAP to get on the schedule