Plug Power (PLUG) reported $143.35 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 44.9%. EPS of -$0.36 for the same period compares to -$0.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $180.23 million, representing a surprise of -20.46%. The company delivered an EPS surprise of -20.00%, with the consensus EPS estimate being -$0.30.
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 equipment, related infrastructure and other
: $76.79 million compared to the $130.17 million average estimate based on eight analysts. The reported number represents a change of -64.5% year over year.Net revenue- Services performed on fuel cell systems and related infrastructure
: $13.03 million versus $13.06 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +49.8% change.Net revenue- Power purchase agreements
: $19.67 million versus $16.60 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +22% change.Net revenue- Fuel delivered to customers and related equipment
: $29.89 million versus $20.62 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +67.2% change.Net revenue- Other
: $3.97 million compared to the $1.30 million average estimate based on seven analysts. The reported number represents a change of +234.2% year over year.Gross profit- Sales of equipment, related infrastructure and other
: -$53.12 million compared to the -$42.52 million average estimate based on seven analysts.Gross profit- Fuel delivered to customers and related equipment
: -$28.43 million versus the seven-analyst average estimate of -$29.20 million.Gross profit- Power purchase agreements
: -$34.64 million versus the seven-analyst average estimate of -$29.05 million.Gross profit- Services performed on fuel cell systems and related infrastructure
: -$0.70 million compared to the -$0.25 million average estimate based on five analysts.
Shares of Plug Power have returned -22.7% over the past month versus the Zacks S&P 500 composite's -6.5% 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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