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What's in the Cards for Plug Power (PLUG) in Q3 Earnings?

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Plug Power Inc. (PLUG - Free Report) is scheduled to release third-quarter 2022 results on Nov 8, after market close.

The company has a bleak earnings surprise history, having missed the Zacks Consensus Estimate in each of the preceding four quarters.

Let’s see how things have shaped up for Plug Power this earnings season.

Plug Power, Inc. Price and EPS Surprise

Plug Power, Inc. Price and EPS Surprise

Plug Power, Inc. price-eps-surprise | Plug Power, Inc. Quote

Factors to Note

The acquisitions of Applied Cryo (November 2021), Frames Holding (December 2021) and Joule Processing (January 2022) are expected to have boosted revenues from sales of fuel cell systems, related infrastructure and equipment. The Zacks Consensus Estimate for revenues from sales of fuel cell systems, related infrastructure and equipment indicates a 73.3% jump in the third quarter of 2022 from the year-ago reported number.

Expanding customer base is expected to have driven revenues from services performed on fuel cell systems and related infrastructure. The consensus mark for revenues from services performed on fuel cell systems and related infrastructure suggests a 71.7% jump from the year-ago reported number.

Revenues from Power Purchase Agreements are expected to reflect a year-over-year increase on the back of new sites for existing customers and new customers accessing the PPA solution. The Zacks Consensus Estimate for net revenues from Power Purchase Agreements hints at a 30% rise from the year-ago reported number.

An increase in the number of sites with fuel contracts is likely to have boosted revenues from fuel delivered to customers and related equipment. The consensus mark for revenues from fuel delivered to customers and related equipment indicates a 94.8% surge from the third quarter of 2021 reported figure.

However, supply-chain disruptions and the associated increase in costs, and high commodity costs are likely to have impacted Plug Power’s bottom line in the to-be-reported quarter.

What the Zacks Model Unveils

The proven Zacks model predicts an earnings beat for Plug Power this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP: Plug Power has an Earnings ESP of +1.08% as the Most Accurate Estimate is pegged at a loss of 24 cents, less than the Zacks Consensus Estimate of a loss of 25 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Plug Power currently carries a Zacks Rank #3.

Highlights of Q2 Earnings

Plug Power incurred a loss of 30 cents per share in the second quarter of 2022, wider than the Zacks Consensus Estimate of a loss of 21 cents. Revenues of $151.27 million missed the Zacks Consensus Estimate by 10.53%. However, the top line improved year over year.

Other Stocks to Consider

Here are some other companies that you may want to consider, as according to our model, these too have the right combination of elements to beat on earnings this reporting cycle.

Vertex Energy (VTNR - Free Report) has an Earnings ESP of +1,400.02% and a Zacks Rank of 3. The company is scheduled to release third-quarter 2022 results on Nov 8.

The Zacks Consensus Estimate for Vertex Energy’s third-quarter earnings has been revised downward by 70% in the past 60 days. Shares of VTNR have gained nearly 20% over the past month.

Accel Entertainment (ACEL - Free Report) has an Earnings ESP of +2.86% and a Zacks Rank #3. The company is slated to release third-quarter 2022 results on Nov 8.

The Zacks Consensus Estimate for Accel Entertainment’s third-quarter earnings has remained steady over the past 60 days. Shares of ACEL have rallied 19% in the past month.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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