Estimates: Analysts expect a loss of 7 cents per share, down from a loss of 3 cents per share in the year-ago quarter. Revenue is seen rising 66% to $113.8 million.
Results: A loss of 18 cents per share on revenue of $124.6 million.
Gross billings rose to $126 million from $75 million in the year-ago quarter. Plug Power wants gross billings to hit $750 in 2022.
Plug Power said the results included legal and accounting costs relating to the restatement of previously issues financial statements. The company expects those higher costs to ease going forward.
Last month, FuelCell reported second-quarter results that fell short of Wall Street estimates.
Estimates: Analysts Ballard reporting a loss of 6 cents per share vs. a loss of 7 cents per share in the year-ago quarter. Revenue is seen falling to $26 million.
Results: A loss of 9 cents per share on revenue of $31 million.
Ballard received $26.1 million in new orders during Q2, a 120% increase over Q1. The order backlog stands at approximately $113.3 million at the end of the quarter.
“The second quarter and first half of this year have highlighted our ability to navigate a challenging global environment, while continuing to invest in our business to capitalize on the exciting momentum occurring across the hydrogen sector,” said CEO Randy MacEwen in the earnings release.
Shares finished 1.7% higher at 15.49. BLDP stock is facing resistance at its 50-day line.
Hydrogen fuel cells are gaining popularity as renewable energy investment has been on the rise globally following the enactment of the Paris Climate Agreement. Even Saudi Aramco, the world’s largest energy company, sees a huge potential for hydrogen fuel.
Follow Gillian Rich on Twitter for energy news and more.
YOU MAY ALSO LIKE: