Fuel cell technology Plug Power (NASDAQ: PLUG) will be announcing earnings results this Monday after the bell. Here’s what you need to know.
Plug Power beat analysts’ revenue expectations by 10.4% last quarter, reporting revenues of $174 million, up 21.4% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Plug Power a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Plug Power’s revenue to grow 1.5% year on year to $176.4 million, a reversal from the 12.6% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.13 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Plug Power has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Plug Power’s peers in the renewable energy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 57.1%, beating analysts’ expectations by 22.8%, and EnerSys reported revenues up 7.6%, topping estimates by 6.9%. Bloom Energy traded up 18% following the results while EnerSys was also up 1.9%.
Read our full analysis of Bloom Energy’s results here and EnerSys’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 2.2% on average over the last month. Plug Power is down 21.9% during the same time and is heading into earnings with an average analyst price target of $2.78 (compared to the current share price of $2.67).
P.S. In tech investing, "Gorillas" are the rare companies that dominate their markets—like Microsoft and Apple did decades ago. Today, the next Gorilla is emerging in AI-powered enterprise software. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
