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.
The company has a bleak earnings surprise history, having missed the Zacks Consensus Estimate in each of the preceding four quarters. The negative earnings surprise was 49.3%, on average.
Let’s see how things have shaped up for Plug Power this earnings season.
Factors to Note
Weak demand for the company’s GenDrive units, GenSure stationary backup power units and cryogenic stationery is expected to have hurt revenues from the sales of equipment, related infrastructure and others. Also, lower sales of electrolyzers and reduced hydrogen site installation activities are expected to have been spoilsport. The Zacks Consensus Estimate for net revenues from the sale of equipment, related infrastructure and others is $130 million, indicating a 39.8% decrease from the prior-year quarter.
However, revenues from fuel delivered to customers and related equipment are expected to grow from higher sales of hydrogen and an increase in the number of sites with fuel contracts. The Zacks Consensus Estimate for fuel delivered to customers and related equipment net revenues is pegged at $20.6 million, implying a 15.2% increase from the year-ago reported number.
Revenues from Power Purchase Agreements (“PPA”) are expected to be buoyed by an increase in the average number of units and customer sites party to these agreements. The consensus mark for net revenues from PPA is pegged at $16.6 million, indicating a 2.9% increase from the year-ago reported number.
Plug Power’s second-quarter results are also expected to benefit from the acquisitions of Applied Cryo Technologies and Frames Group, which strengthened its green hydrogen ecosystem and enhanced its capabilities to deliver a range of turnkey electrolyzer solutions.
It’s worth noting that escalating costs of sales and operating expenses have been concerns for Plug Power for some time now. The impacts of high labor and raw material costs are likely to have affected PLUG’s margin and profitability. Also, investments associated with product development and growth initiatives are expected to have hurt the company’s performance.
Owing to its extensive regional presence, risks arising from unfavorable movements in foreign currencies and geopolitical issues are likely to have hurt Plug Power’s performance.
Amid this backdrop, the Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $180 million, indicating a decrease of 30.7% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings is pinned at a loss of 30 cents per share compared with a loss of 35 cents per share in the year-ago quarter.
Our proven model predicts an earnings beat for PLUG this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, as elaborated below.
Earnings ESP: PLUG has an Earnings ESP of +1.67%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: PLUG presently carries a Zacks Rank of 3.
Other Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, also have the right combination of elements to beat on earnings in this reporting cycle.
The company is scheduled to release fiscal third-quarter results on Aug 7.
EMR’s earnings have surpassed the Zacks Consensus Estimate thrice in the preceding four quarters while missing the mark once, the average surprise being 10.7%.
Atkore Inc. (ATKR - Free Report) has an Earnings ESP of +0.62% and a Zacks Rank of 3 at present. The company is slated to release fiscal third-quarter results on Aug 6.
ATKR’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.4%.
LegalZoom.com, Inc. (LZ - Free Report) has an Earnings ESP of +17.02% and a Zacks Rank of 3 at present. The company is slated to release second-quarter results on Aug 7.
LZ’s earnings have surpassed the Zacks Consensus Estimate twice in the trailing four quarters, missed once and came in line on the remaining occasion. The average earnings surprise was 13.3%.
Image: Bigstock
What to Note Ahead of Plug Power's (PLUG) Q2 Earnings Release?
Plug Power Inc. (PLUG - Free Report) is scheduled to release second-quarter 2024 results on Aug 8, before market open.
The company has a bleak earnings surprise history, having missed the Zacks Consensus Estimate in each of the preceding four quarters. The negative earnings surprise was 49.3%, on average.
Let’s see how things have shaped up for Plug Power this earnings season.
Factors to Note
Weak demand for the company’s GenDrive units, GenSure stationary backup power units and cryogenic stationery is expected to have hurt revenues from the sales of equipment, related infrastructure and others. Also, lower sales of electrolyzers and reduced hydrogen site installation activities are expected to have been spoilsport. The Zacks Consensus Estimate for net revenues from the sale of equipment, related infrastructure and others is $130 million, indicating a 39.8% decrease from the prior-year quarter.
However, revenues from fuel delivered to customers and related equipment are expected to grow from higher sales of hydrogen and an increase in the number of sites with fuel contracts. The Zacks Consensus Estimate for fuel delivered to customers and related equipment net revenues is pegged at $20.6 million, implying a 15.2% increase from the year-ago reported number.
Revenues from Power Purchase Agreements (“PPA”) are expected to be buoyed by an increase in the average number of units and customer sites party to these agreements. The consensus mark for net revenues from PPA is pegged at $16.6 million, indicating a 2.9% increase from the year-ago reported number.
Plug Power’s second-quarter results are also expected to benefit from the acquisitions of Applied Cryo Technologies and Frames Group, which strengthened its green hydrogen ecosystem and enhanced its capabilities to deliver a range of turnkey electrolyzer solutions.
It’s worth noting that escalating costs of sales and operating expenses have been concerns for Plug Power for some time now. The impacts of high labor and raw material costs are likely to have affected PLUG’s margin and profitability. Also, investments associated with product development and growth initiatives are expected to have hurt the company’s performance.
Owing to its extensive regional presence, risks arising from unfavorable movements in foreign currencies and geopolitical issues are likely to have hurt Plug Power’s performance.
Amid this backdrop, the Zacks Consensus Estimate for the company’s second-quarter revenues is pegged at $180 million, indicating a decrease of 30.7% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings is pinned at a loss of 30 cents per share compared with a loss of 35 cents per share in the year-ago quarter.
Plug Power, Inc. Price and EPS Surprise
Plug Power, Inc. price-eps-surprise | Plug Power, Inc. Quote
Earnings Whispers
Our proven model predicts an earnings beat for PLUG this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, as elaborated below.
Earnings ESP: PLUG has an Earnings ESP of +1.67%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: PLUG presently carries a Zacks Rank of 3.
Other Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, also have the right combination of elements to beat on earnings in this reporting cycle.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.14% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release fiscal third-quarter results on Aug 7.
EMR’s earnings have surpassed the Zacks Consensus Estimate thrice in the preceding four quarters while missing the mark once, the average surprise being 10.7%.
Atkore Inc. (ATKR - Free Report) has an Earnings ESP of +0.62% and a Zacks Rank of 3 at present. The company is slated to release fiscal third-quarter results on Aug 6.
ATKR’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.4%.
LegalZoom.com, Inc. (LZ - Free Report) has an Earnings ESP of +17.02% and a Zacks Rank of 3 at present. The company is slated to release second-quarter results on Aug 7.
LZ’s earnings have surpassed the Zacks Consensus Estimate twice in the trailing four quarters, missed once and came in line on the remaining occasion. The average earnings surprise was 13.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.