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Max Knoblauch

Plug Power beats Wall Street sales estimates but investors aren’t electrified

Hydrogen fuel cell company Plug Power was largely flat in after-hours trading on Monday, following the company’s first-quarter earnings report.

Plug reported revenue of $133.7 million on the quarter, beating the analyst estimates of $132 million. The company posted a loss per share of -$0.21, slightly worse than Wall Street expectations of a -$0.19 loss. Shares were down about 2% in after-hours trading.

Plug reported a -55% gross margin loss for the quarter, significantly better than the -132% margin in the same period last year. For the second quarter, it forecast revenue between $140 million and $180 million.

Last month, Plug projected that recent cost-saving measures would save it $200 million per year. Those preliminary results, along with a $525 million credit pact with Yorkville Advisors, sent its shares up 40% on the day.

As of market close, the company’s shares were down more than 60% this year. At less than a dollar per share, the stock is down massively from an early 2021 peak in the mid-$60 range (adjusted for splits), when investors were optimistic about the Biden administration’s desire to support alternative fuels.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

EBay Falls After Giving Weak Profit Outlook for Holiday Period

eBay Bloomberg 10/30

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

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