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Monday, July 08, 2019 1:01:56 PM
In the last formal communication from the company we have:
“We continue to further the commercial adoption of hydrogen and fuel cells in material handling applications, Plug Power’s core market. Additionally, we’ve successfully moved the proven technology into adjacent applications with our ProGen fuel cell engine product line, namely on-road with StreetScooter, into small-scale robotics and UAVs through the acquisition of EnergyOr, and into telecommunication back-up and remote village power with global channel partners like Chem.”The Company remains on target to meet full year guidance of $235 to $245 million in gross billings and positive adjusted EBITDA for the full year of 2019.
New deals in side the Material Handling space will not be "special" unless there is a very good reason for them - like may be a distributor (Toyota?) But he has delivered on of the four deal mentioned at the start of the year. In the Q1 call he said the first would be in May and be for Progen - which it was.
Delays in deals can be for a number of reasons and as we know from the past often the PR comes after the deal was consummated in the first place at the request of a number of parties. I can only repeat what he said on the Q1 call:
I would expect that that announcement will be in June. And where we are in the programs and the activities, I’d met with them enormous times and there’s someone with a huge global footprint that would give us a reach that we never had in the past. So again, there we’re looking to close -- the first major deal with them and we're going to use that as the opportunity to make the announcement, so that’s proceeding.
As Jack keeps reminding us we are just a fork lift truck component supplier - so why should any deal in that space be news?
I cannot wait to see the impact of the deals we have announced in Q2 coming to fruition - some will be in the next results but in Q3 for sure where the forecast will be upped since none of the Q2 deals were in the current forecast for the year.
One last thing......
read the PR carefully - consider what the impact of owning the most important part of the parts supply pipeline is to say the Walmart and Amazon roll outs which are still running at half what they need to be to hit the initial suggested commitments of $600m each.
Q2 and Q3 are when the big installs happen.
oh and remember the TRU market - hasn't been mentioned for years but still very viable wit the recent New York and San Francisco moves to cut pollution and noise.
Recent PLUG News
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- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 12:06:42 PM
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- Investors who lost money on Plug Power Inc.(PLUG) should contact The Gross Law Firm about pending Class Action - PLUG • PR Newswire (US) • 05/14/2024 09:45:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 08:34:02 PM
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