Plug Power (PLUG - Free Report) reported $120.26 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 42.8%. EPS of -$0.43 for the same period compares to -$0.35 a year ago.
The reported revenue represents a surprise of -26.18% over the Zacks Consensus Estimate of $162.92 million. With the consensus EPS estimate being -$0.32, the EPS surprise was -34.38%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Plug Power performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net revenue- Sales of fuel cell systems, related infrastructure and equipment: $68.30 million versus $111.44 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -62.5% change.
- Net revenue- Services performed on fuel cell systems and related infrastructure: $13.02 million compared to the $12.66 million average estimate based on eight analysts. The reported number represents a change of +43.2% year over year.
- Net revenue- Power purchase agreements: $18.30 million versus $15.43 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +130.6% change.
- Net revenue- Fuel delivered to customers and related equipment: $18.29 million versus the eight-analyst average estimate of $17.90 million. The reported number represents a year-over-year change of +80.3%.
- Net revenue- Other: $2.36 million compared to the $1.17 million average estimate based on seven analysts.
- Gross profit- Fuel delivered to customers and related equipment: -$40.29 million compared to the -$32.08 million average estimate based on seven analysts.
- Gross profit- Sales of fuel cell systems, related infrastructure and equipment: -$66.83 million compared to the -$14.59 million average estimate based on seven analysts.
- Gross profit- Other: $0.65 million versus the six-analyst average estimate of -$0.40 million.
- Gross profit- Services performed on fuel cell systems and related infrastructure: $0.07 million compared to the -$13.33 million average estimate based on six analysts.
- Gross profit- Power purchase agreements: -$36.92 million versus the six-analyst average estimate of -$34.89 million.
View all Key Company Metrics for Plug Power here>>>Shares of Plug Power have returned -17.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Plug Power (PLUG - Free Report) reported $120.26 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 42.8%. EPS of -$0.43 for the same period compares to -$0.35 a year ago.
The reported revenue represents a surprise of -26.18% over the Zacks Consensus Estimate of $162.92 million. With the consensus EPS estimate being -$0.32, the EPS surprise was -34.38%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Plug Power performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net revenue- Sales of fuel cell systems, related infrastructure and equipment: $68.30 million versus $111.44 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -62.5% change.
- Net revenue- Services performed on fuel cell systems and related infrastructure: $13.02 million compared to the $12.66 million average estimate based on eight analysts. The reported number represents a change of +43.2% year over year.
- Net revenue- Power purchase agreements: $18.30 million versus $15.43 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +130.6% change.
- Net revenue- Fuel delivered to customers and related equipment: $18.29 million versus the eight-analyst average estimate of $17.90 million. The reported number represents a year-over-year change of +80.3%.
- Net revenue- Other: $2.36 million compared to the $1.17 million average estimate based on seven analysts.
- Gross profit- Fuel delivered to customers and related equipment: -$40.29 million compared to the -$32.08 million average estimate based on seven analysts.
- Gross profit- Sales of fuel cell systems, related infrastructure and equipment: -$66.83 million compared to the -$14.59 million average estimate based on seven analysts.
- Gross profit- Other: $0.65 million versus the six-analyst average estimate of -$0.40 million.
- Gross profit- Services performed on fuel cell systems and related infrastructure: $0.07 million compared to the -$13.33 million average estimate based on six analysts.
- Gross profit- Power purchase agreements: -$36.92 million versus the six-analyst average estimate of -$34.89 million.
View all Key Company Metrics for Plug Power here>>>Shares of Plug Power have returned -17.9% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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