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Plug Power Inc. PLUG is scheduled to release fourth-quarter 2024 results on March 4, 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 is 37.4%, on average.
Let’s see how things have shaped up for Plug Power this earnings season.
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Factors to Note Ahead of PLUG’s Results
Demand recovery for the company’s electrolyzers is expected to have driven revenues from the sales of equipment, related infrastructure and others. Also, improving demand for cryogenic storage equipment and liquefiers and fuel cell systems is expected to have aided its sales. The Zacks Consensus Estimate for net revenues from the sale of equipment, related infrastructure and others is $197 million, indicating an increase of 17.3% from the prior-year quarter.
Revenues from fuel delivered to customers and related equipment are expected to have grown due to 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 $31.5 million, implying a 66.5% increase from the year-ago number.
Revenues from Power Purchase Agreements are expected to have been buoyed by an increase in the average number of units and customer sites party to these agreements.
Plug Power’s fourth-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.
However, rising costs 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 its margin and profitability. Also, investments associated with product development and growth initiatives are expected to have hurt the company’s performance.
Given the company’s substantial international operations, foreign currency headwinds are likely to have marred its margins and profitability.
Amid this backdrop, the Zacks Consensus Estimate for the company’s fourth-quarter revenues is pegged at $257 million, indicating an increase of 15.7% from the year-ago quarter’s figure. The consensus estimate for adjusted earnings is pinned at a loss of 23 cents per share compared with a loss of $1.07 per share in the year-ago quarter.
Plug Power, Inc. Price and EPS Surprise
Plug Power, Inc. price-eps-surprise | Plug Power, Inc. Quote