Fuel cell technology Plug Power (NASDAQ: PLUG) will be reporting results tomorrow after market close. Here’s what investors should know.
Plug Power missed analysts’ revenue expectations by 18.7% last quarter, reporting revenues of $173.7 million, down 12.6% year on year. It was a disappointing quarter for the company, with a miss of analysts’ Power Purchase Agreements revenue estimates and full-year revenue guidance missing analysts’ expectations significantly.
Is Plug Power a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Plug Power’s revenue to decline 13.8% year on year to $263.3 million, a deceleration from its flat revenue in the same quarter last year. Adjusted loss is expected to come in at -$0.23 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
With Plug Power being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for electrical equipment stocks. However, there has been positive investor sentiment in the segment, with share prices up 9.9% on average over the last month. Plug Power is down 18.9% during the same time and is heading into earnings with an average analyst price target of $2.15 (compared to the current share price of $0.86).
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