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Plug Power posts wider loss, lower sales in Q1, pinning it on rising nat gas prices
Plug Power Inc. stock fell more than 6% in the extended session Monday after the hydrogen fuel-cell company reported a wider-than-expected quarterly loss and revenue was below expectations, saying that higher natural-gas prices have hit its margins. Plug Power lost $157 million, or 27 cents a share, in the first quarter, compared with a loss of $61 million, or 12 cents a share, in the year-ago period. Revenue rose 96% to $141 million. Analysts polled by FactSet expected Plug Power to report a lo
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