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Compared to Estimates, Plug Power (PLUG) Q3 Earnings: A Look at Key Metrics
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Plug Power (PLUG - Free Report) reported $198.71 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.3%. EPS of -$0.47 for the same period compares to -$0.30 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $237.83 million, representing a surprise of -16.45%. The company delivered an EPS surprise of -46.88%, with the consensus EPS estimate being -$0.32.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $145.13 million versus the nine-analyst average estimate of $174.14 million. The reported number represents a year-over-year change of -8.1%.
Net revenue- Fuel delivered to customers and related equipment: $19.37 million versus $19.68 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +56.4% change.
Net revenue- Power purchase agreements: $20.07 million versus the nine-analyst average estimate of $15.02 million. The reported number represents a year-over-year change of +110.7%.
Net revenue- Services performed on fuel cell systems and related infrastructure: $9.29 million compared to the $11.05 million average estimate based on nine analysts. The reported number represents a change of +10.5% year over year.
Gross profit- Services performed on fuel cell systems and related infrastructure: -$8.63 million versus -$10.43 million estimated by eight analysts on average.
Gross profit- Fuel delivered to customers and related equipment: -$39.64 million versus the eight-analyst average estimate of -$37.99 million.
Gross profit- Power purchase agreements: -$36.91 million versus -$25.93 million estimated by seven analysts on average.
Shares of Plug Power have returned -20.2% over the past month versus the Zacks S&P 500 composite's +1.8% 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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Compared to Estimates, Plug Power (PLUG) Q3 Earnings: A Look at Key Metrics
Plug Power (PLUG - Free Report) reported $198.71 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.3%. EPS of -$0.47 for the same period compares to -$0.30 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $237.83 million, representing a surprise of -16.45%. The company delivered an EPS surprise of -46.88%, with the consensus EPS estimate being -$0.32.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $145.13 million versus the nine-analyst average estimate of $174.14 million. The reported number represents a year-over-year change of -8.1%.
- Net revenue- Fuel delivered to customers and related equipment: $19.37 million versus $19.68 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +56.4% change.
- Net revenue- Power purchase agreements: $20.07 million versus the nine-analyst average estimate of $15.02 million. The reported number represents a year-over-year change of +110.7%.
- Net revenue- Services performed on fuel cell systems and related infrastructure: $9.29 million compared to the $11.05 million average estimate based on nine analysts. The reported number represents a change of +10.5% year over year.
- Gross profit- Services performed on fuel cell systems and related infrastructure: -$8.63 million versus -$10.43 million estimated by eight analysts on average.
- Gross profit- Fuel delivered to customers and related equipment: -$39.64 million versus the eight-analyst average estimate of -$37.99 million.
- Gross profit- Power purchase agreements: -$36.91 million versus -$25.93 million estimated by seven analysts on average.
View all Key Company Metrics for Plug Power here>>>Shares of Plug Power have returned -20.2% over the past month versus the Zacks S&P 500 composite's +1.8% 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.