On Wednesday, Shares of Plug Power Inc (NASDAQ:PLUG), lost -3.41% to $1.84.
Plug Power, reports its 2015 third quarter results.
In the third quarter of 2015, Plug Power took major steps to achieve its 2015 objectives. The Company recorded revenue of $31.4 million and bookings that exceeded $50 million. The Company recognized revenue for more than 1,200 units in the third quarter, and now has more than 9,000 units in the field. Company performance is in line with guidance for the full year that was set forth in January 2015, which comprised:
- 2015 Aim: Achieve revenue of more than $100 million
- Current Status through 9/30: $65 million in revenue
- 2015 Aim: Realize bookings of more than $200 million
- Current Status through 9/30: $166 million in bookings — 83% towards aim
- 2015 Aim: Install 15 GenFuel hydrogen storage and dispensing systems
- Current Status through 9/30: 12 GenFuel systems complete, 6 in progress
- 2015 Aim: Achieve GenDrive gross margins over 25% by the fourth quarter
- Current Status through 9/30: Ahead of plan at 17%
- 2015 Aim: Book six new customers
- Current Status through 9/30: Booked five new customers, with sixth predictable in the coming weeks
- 2015 Aim: Continue to make progress in the hydrogen business
- Current Status through 9/30: Successful development of systems that allow small-site adoption
Plug Power Inc., an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of fuel cell systems for the industrial off-road markets worldwide. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies.
Shares of Platform Specialty Products Corp (NYSE:PAH), declined -4.79% to $11.12, during its last trading session.
Platform Specialty Products Corporation, declared its financial results for the three and nine months ended September 30, 2015.
For the three months ended September 30, 2015:
- Pro forma net sales for the third quarter 2015 were $597 million, a decrease of 15.5% on a pro-forma as adjusted basis contrast to third quarter of 2014. Pro forma constant currency net sales were $602 million, an improvement of 2.2% over 2014 constant currency sales of $590 million;
- Performance Applications segment: Sales were $180 million, a decline of 8.7% from $197 million in the third quarter of 2014. On a constant currency basis, sales for this segment were essentially flat, declining 0.2% or $0.4 million;
- Agricultural Solutions segment: Pro forma as adjusted sales were $418 million, an 18.1% decline from $510 million in the third quarter of 2014. On a constant currency basis, pro forma as adjusted sales grew 3.2% or $13 million;
- Adjusted EBITDA for the third quarter 2015 was $115 million, a decrease of 18.6% contrast to the third quarter 2014 on a pro-forma basis, but was essentially flat on a constant currency basis, declining 0.4%;
- Performance Applications segment: Adjusted EBITDA was $55 million, a decrease of 2.3% from $56 million in the third quarter of 2014. On a constant currency basis, adjusted EBITDA for this segment grew 8.1% or $4 million;
- Agricultural Solutions segment: Adjusted EBITDA was $61 million, a decline of 29.2% from $86 million pro forma as adjusted EBITDA in the third quarter of 2014. On a constant currency basis, pro forma as adjusted EBITDA declined 6.9% or $5 million;
- Pro forma as adjusted EBITDA margin was 19.4% contrast to a margin of 19.9% in the year-ago period on a constant currency basis;
- Stated net loss attributable to common shareholders was $122 million, contrast to net income of $12 million for the same period in 2014;
- Net income reduced primarily as a result of raised interest expense, foreign exchange losses and acquisition related expenses;
- As adjusted diluted earnings per share were $0.06 contrast to $0.18 per adjusted diluted earnings per share in the same period of 2014;
- Adjusted recurring free cash flow was $67 million, or $0.28 per adjusted diluted share contrast to $36 million or $0.25 per adjusted diluted share in the same period of 2014.
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The company’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions.
Finally, Shares of U.S. Bancorp (NYSE:USB), ended its last trade with -0.07% loss, and closed at $43.33.
U.S. Bank welcomed Medal of Honor recipient Clinton (“Clint”) Romesha to Minneapolis on Tuesday, Nov. 10 as the company paused to honor its military veterans and active duty employees in recognition of Veterans Day.
Richard Davis, chairman, president and chief executive officer of U.S. Bancorp, has hosted an annual Veterans Day call for the past 7 years. The call is tied to the company’s Proud to Serve group, which manages all of the ways that U.S. Bank supports, respects and gives back to the men and women of the armed services. Richard (“Dick”) Payne co-hosted the call. Payne is a veteran, vice chairman and co-founder of Proud to Serve at U.S. Bank.
“This day of honor and respect for our brave military personnel is special to U.S. Bank because every employee in our company knows the lengths to which these men and women have sacrificed for our safety and freedom,” Davis said. “It is an honor and a pleasure to say ‘thank you,’ to celebrate these American heroes and to introduce new ways in which U.S. Bank is supporting veterans.”
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.