For the quarter ended September 2024, Plug Power (PLUG) reported revenue of $173.73 million, down 12.6% over the same period last year. EPS came in at -$0.25, compared to -$0.47 in the year-ago quarter.
The reported revenue represents a surprise of -16.38% over the Zacks Consensus Estimate of $207.75 million. With the consensus EPS estimate being -$0.24, the EPS surprise was -4.17%.
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.
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 equipment, related infrastructure and other: $107.14 million versus the eight-analyst average estimate of $145.46 million. The reported number represents a year-over-year change of -26.2%.
- Net revenue- Services performed on fuel cell systems and related infrastructure: $14.15 million compared to the $13.97 million average estimate based on eight analysts. The reported number represents a change of +52.3% year over year.
- Net revenue- Power purchase agreements: $20.46 million compared to the $18.62 million average estimate based on eight analysts. The reported number represents a change of +2% year over year.
- Net revenue- Fuel delivered to customers and related equipment: $29.79 million compared to the $26.86 million average estimate based on eight analysts. The reported number represents a change of +53.8% year over year.
- Net revenue- Other: $2.19 million compared to the $3.60 million average estimate based on seven analysts.
- Gross profit- Power purchase agreements: -$31.32 million versus -$29.99 million estimated by seven analysts on average.
- Gross profit- Fuel delivered to customers and related equipment: -$25.75 million versus -$19.17 million estimated by seven analysts on average.
- Gross profit- Sales of equipment, related infrastructure and other: -$42.77 million compared to the -$42.87 million average estimate based on six analysts.
- Gross profit- Other: $0.79 million compared to the $0.49 million average estimate based on five analysts.
- Gross profit- Services performed on fuel cell systems and related infrastructure: $5.06 million compared to the -$3.22 million average estimate based on five analysts.
Shares of Plug Power have returned -4.3% over the past month versus the Zacks S&P 500 composite's +3.3% 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.
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