uploads///Sales and Gross Profit of Fuelcells Companies

Plug Power and SolarCity Saw Major Gains in Sales and Profits

By

Dec. 31 2015, Updated 10:13 a.m. ET

Sales performance

Plug Power (PLUG) and SolarCity’s (SCTY) sales grew by 140% and 56%, respectively, on a YoY (year-over-year) basis in fiscal 3Q15. The two companies’ gross profits grew by 56% and 99%, respectively.

Plug Power designs, develops, manufactures, and commercializes fuel cell systems for electric lift trucks and material handling equipment. The company offers its products globally to retail, grocery, and institutional food distribution centers as well as manufacturing facilities. It gets most of its revenue from North America. SolarCity offers solar power energy.

FuelCell Energy’s (FCEL) sales fell by 9.5% on a YoY basis. Its gross profit also fell by 7%. It’s important to note that 70% of its revenue comes from foreign sources. Asia-Pacific accounts for its largest source of revenue. It has significant exposure to the Korean Peninsula.

For EnerSys (ENS), sales grew by 1.2% on a YoY basis. Its gross profit also grew by 2%. North America accounts for a significant portion of its revenue. The above chart shows these companies’ sales growth and gross profit.

Article continues below advertisement

YTD performance

On a YTD (year-to-date) basis, renewable energy companies like FuelCell Energy, Plug Power, EnerSys, and SolarCity fell by an average of 28%. FuelCell Energy and Plug Power fell by 72% and 25%. EnerSys and SolarCity fell by 8% and 7%, respectively.

The Guggenheim Solar ETF (TAN) fell by 10.3% on a YTD basis. The PowerShares WilderHill Clean Energy ETF (PBW) fell by 9.3% on a YTD basis. The VanEck Vectors Global Alternate Energy ETF (GEX) rose by 2%.

In the next part, we will talk about the debt of these renewable energy companies.

Advertisement

More From Market Realist

  • Open sign on a sidewalk
    Macroeconomic Analysis
    Top Reopening Stocks to Play the Shifting Market Sentiment
  • Morgan Stanley sign and stock numbers
    Macroeconomic Analysis
    Morgan Stanley's Buyback Stock Picks in 2021
  • Black Wall Street sign is sign of ethical investing
    Macroeconomic Analysis
    Ethical Investing Stocks and Funds for Your 2021 Portfolio
  • New York City skyline and Goldman Sachs logo
    Macroeconomic Analysis
    Goldman Sachs: Options Trade Picks to Play Earnings Season Volatility
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.