Plug Power reports Q2 adjusted EPS (10c), consensus (6c)
Reports Q2 revenue $22.6M, consensus $28.6M. Plug Power stated: "As we communicated at the beginning of the year, the second half of 2017 is going to represent approximately 70% of the full year financial goals. In order to achieve this, we had to start work in the first half to ensure we could meet the ramp-up in production. We worked with our supply chain to ensure we had the right inventory at the right time, adjusted workflows in the factory to improve throughput while maintaining quality, hired and trained new production and service employees and executed on engineering projects to continue the improvements in performance and cost across our product offerings...we had to bolster our purchasing and manufacturing earlier in the year to deploy a quarter so large. This had us use a larger proportion of cash in the first half of the year. We anticipate the second half of the year being cash flow positive with over $130M in cash collections, which should put us in-line with our guidance for the year."