We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Compared to Estimates, Plug Power (PLUG) Q1 Earnings: A Look at Key Metrics
Read MoreHide Full Article
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.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Compared to Estimates, Plug Power (PLUG) Q1 Earnings: A Look at Key Metrics
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.