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Plug Power stock falls 3% after wider Q3 loss, lower sales

Shares of Plug Power Inc. (PLUG) dropped 3% in the extended session Tuesday after the hydrogen fuel-cell company reported a wider quarterly loss and sales that missed the mark slightly. Plug Power lost $107 million, or 19 cents a share, in the third quarter, compared with a loss of $65 million, or 18 cents a share, in the year-ago quarter. Revenue rose to $144 million from $107 million a year ago. Analysts polled by FactSet expected Plug Power to report a loss of 8 cents a share on sales of $145 million. Separately, Plug Power said it has agreed to buy Frames Group, a Netherlands-based maker of energy equipment. The deal, which includes 85 million euros ($98.5 million) in cash and 30 million euros in earnouts, is expected to close by the end of the year, Plug Power said.

-Claudia Assis


(END) Dow Jones Newswires

11-09-21 1712ET

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