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Plug Power (PLUG) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Plug Power (PLUG - Free Report) reported revenue of $260.18 million, up 72% over the same period last year. EPS came in at -$0.35, compared to -$0.30 in the year-ago quarter.
The reported revenue represents a surprise of +9.61% over the Zacks Consensus Estimate of $237.38 million. With the consensus EPS estimate being -$0.28, the EPS surprise was -25.00%.
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: $216.29 million versus the nine-analyst average estimate of $193.79 million. The reported number represents a year-over-year change of +86.1%.
Net revenue- Services performed on fuel cell systems and related infrastructure: $8.70 million versus $11.12 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.
Net revenue- Power purchase agreements: $16.13 million versus the nine-analyst average estimate of $11.22 million. The reported number represents a year-over-year change of +44.4%.
Net revenue- Fuel delivered to customers and related equipment: $17.88 million versus $17.75 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +23.5% change.
Net revenue- Other: $1.19 million versus $0.59 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +107.9% change.
Gross profit- Sales of fuel cell systems, related infrastructure and equipment: $28.88 million versus $29.12 million estimated by nine analysts on average.
Gross profit- Fuel delivered to customers and related equipment: -$46.57 million versus the nine-analyst average estimate of -$34.03 million.
Gross profit- Power purchase agreements: -$37.85 million versus the nine-analyst average estimate of -$18.06 million.
Gross profit- Services performed on fuel cell systems and related infrastructure: -$14.75 million versus the seven-analyst average estimate of -$3.22 million.
Shares of Plug Power have returned -2.4% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Plug Power (PLUG) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Plug Power (PLUG - Free Report) reported revenue of $260.18 million, up 72% over the same period last year. EPS came in at -$0.35, compared to -$0.30 in the year-ago quarter.
The reported revenue represents a surprise of +9.61% over the Zacks Consensus Estimate of $237.38 million. With the consensus EPS estimate being -$0.28, the EPS surprise was -25.00%.
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: $216.29 million versus the nine-analyst average estimate of $193.79 million. The reported number represents a year-over-year change of +86.1%.
- Net revenue- Services performed on fuel cell systems and related infrastructure: $8.70 million versus $11.12 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.
- Net revenue- Power purchase agreements: $16.13 million versus the nine-analyst average estimate of $11.22 million. The reported number represents a year-over-year change of +44.4%.
- Net revenue- Fuel delivered to customers and related equipment: $17.88 million versus $17.75 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +23.5% change.
- Net revenue- Other: $1.19 million versus $0.59 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +107.9% change.
- Gross profit- Sales of fuel cell systems, related infrastructure and equipment: $28.88 million versus $29.12 million estimated by nine analysts on average.
- Gross profit- Fuel delivered to customers and related equipment: -$46.57 million versus the nine-analyst average estimate of -$34.03 million.
- Gross profit- Power purchase agreements: -$37.85 million versus the nine-analyst average estimate of -$18.06 million.
- Gross profit- Services performed on fuel cell systems and related infrastructure: -$14.75 million versus the seven-analyst average estimate of -$3.22 million.
View all Key Company Metrics for Plug Power here>>>Shares of Plug Power have returned -2.4% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.