Plug Power Fuel Cell Technology (NASDAQ:PLUG) will report earnings this Monday after the bell. Here’s what you need to know.
Plug Power beat analyst expectations by 10.4% last quarter, reporting revenue of $174 million, up 21.4% year over year. It was a weaker quarter for the company, with a significant error in analysts’ adjusted operating profit estimates and a significant error in analysts’ EBITDA estimates.
Is Plug Power a Profit Making Buy or Sell? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts expect Plug Power’s revenue to increase 1.5% year over year to $176.4 million, a reversal from the 12.6% decline in the same quarter last year. The adjusted loss is expected to be -$0.13 per share.
Analysts covering the company have generally reconfirmed their estimates over the past 30 days, suggesting they expect the company to stay the course before reporting profits. Plug Power has missed Wall Street revenue estimates six times over the past two years.
Looking at Plug Power’s peers in the renewable energy segment, some have already released their third quarter results, giving us an idea of ​​what we can expect. Bloom Energy reported year-over-year revenue growth of 57.1%, beating analysts’ expectations of 22.8%, and EnerSys reported revenue up 7.6%, beating estimates of 6.9%. Bloom Energy rose 18% following the results, while EnerSys also rose 1.9%.
Read our full analysis of Bloom Energy’s results here and EnerSys’ results here.
Investors have felt positive sentiment in the renewable energy segment, with stock prices up 2.2% on average over the past month. Plug Power is down 21.9% in the same period and headed for a profit with an average analyst price target of $2.78 (compared to the current stock price of $2.67).
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