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High commodity costs due to inflationary pressure, and costs associated with supply-chain issues, including logistics, procurement, manufacturing costs and fuel costs, are likely to have weighed on Plug Power’s fourth-quarter performance.
However, the acquisitions of Applied Cryo (November 2021), Frames Holding (December 2021) and Joule Processing (January 2022) are expected to have boosted the company’s performance. The benefits of these acquisitions are likely to get reflected in 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 an increase of 69.6% sequentially.
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 68.8% surge from the previous quarter’s reported figure.
Revenues from Power Purchase Agreements are expected to reflect a sequential 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 37.6% rise from the sequential quarter’s 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 more than 100% surge from the third-quarter 2022 reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict 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, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Plug Power has an Earnings ESP of -1.36%. 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 Q3 Earnings
In third-quarter 2022, Plug Power incurred an adjusted loss of 30 cents per share, wider than the Zacks Consensus Estimate of a loss of 25 cents. Total revenues of $188.63 million missed the Zacks Consensus Estimate of $240 million. While the bottom line deteriorated year over year, the top line improved.
Performance of Some Industrial Stocks
Within the broader Industrial Products sector, the following companies have recently reported earnings numbers.
Parker-Hannifin Corporation (PH - Free Report) , currently carrying a Zacks Rank #2, reported second-quarter fiscal 2023 (ended Dec 31, 2022) adjusted earnings (excluding $1.72 from non-recurring items) of $4.76 per share, which surpassed the Zacks Consensus Estimate of $4.45. The bottom line improved 6.7% year over year.
Parker-Hannifin’s total revenues of $4,674.8 million also outperformed the Zacks Consensus Estimate of $4,461.5 million. The top line jumped 22.2% year over year. Organic sales for the quarter increased 10.3% year over year. Orders were up 3% year over year.
Xylem (XYL - Free Report) , currently carrying a Zacks Rank #3, reported fourth-quarter 2022 adjusted earnings (excluding 10 cents from non-recurring items) of 92 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents. The bottom line increased 46% year over year.
Xylem’s revenues of $1,506 million also outperformed the Zacks Consensus Estimate of $1,415 million and rose 13.8% year over year. Organic sales in the quarter rose 20%.
Image: Bigstock
What to Expect From Plug Power (PLUG) This Earnings Season?
Plug Power Inc. (PLUG - Free Report) is scheduled to release fourth-quarter 2022 results on Mar 1, after market close.
The company has a dull 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-eps-surprise | Plug Power, Inc. Quote
Factors to Note
High commodity costs due to inflationary pressure, and costs associated with supply-chain issues, including logistics, procurement, manufacturing costs and fuel costs, are likely to have weighed on Plug Power’s fourth-quarter performance.
However, the acquisitions of Applied Cryo (November 2021), Frames Holding (December 2021) and Joule Processing (January 2022) are expected to have boosted the company’s performance. The benefits of these acquisitions are likely to get reflected in 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 an increase of 69.6% sequentially.
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 68.8% surge from the previous quarter’s reported figure.
Revenues from Power Purchase Agreements are expected to reflect a sequential 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 37.6% rise from the sequential quarter’s 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 more than 100% surge from the third-quarter 2022 reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict 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, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Plug Power has an Earnings ESP of -1.36%. 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 Q3 Earnings
In third-quarter 2022, Plug Power incurred an adjusted loss of 30 cents per share, wider than the Zacks Consensus Estimate of a loss of 25 cents. Total revenues of $188.63 million missed the Zacks Consensus Estimate of $240 million. While the bottom line deteriorated year over year, the top line improved.
Performance of Some Industrial Stocks
Within the broader Industrial Products sector, the following companies have recently reported earnings numbers.
Parker-Hannifin Corporation (PH - Free Report) , currently carrying a Zacks Rank #2, reported second-quarter fiscal 2023 (ended Dec 31, 2022) adjusted earnings (excluding $1.72 from non-recurring items) of $4.76 per share, which surpassed the Zacks Consensus Estimate of $4.45. The bottom line improved 6.7% year over year.
Parker-Hannifin’s total revenues of $4,674.8 million also outperformed the Zacks Consensus Estimate of $4,461.5 million. The top line jumped 22.2% year over year. Organic sales for the quarter increased 10.3% year over year. Orders were up 3% year over year.
Xylem (XYL - Free Report) , currently carrying a Zacks Rank #3, reported fourth-quarter 2022 adjusted earnings (excluding 10 cents from non-recurring items) of 92 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents. The bottom line increased 46% year over year.
Xylem’s revenues of $1,506 million also outperformed the Zacks Consensus Estimate of $1,415 million and rose 13.8% year over year. Organic sales in the quarter rose 20%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.