Plug Power's Q2 Earnings Fall Short of Expectations

Thursday, 8 August 2024, 11:59

Plug Power (NASDAQ: PLUG) reported a **disappointing** second-quarter performance, with revenue plummeting by **44.9%** year-over-year to **$143.4 million**. This result was significantly lower than analysts' forecasts, coupled with a full-year revenue guidance of **$875 million**, which is also under analyst expectations by **3.9%**. Despite improving from a loss of **$0.40** per share last year to **$0.36** per share this quarter, the stock experienced a decline due to the overall negative outlook.

Yahoo Finance — Plug Power's Q2 Earnings Fall Short of Expectations

Plug Power's Q2 Earnings Summary

Plug Power (NASDAQ: PLUG) reported its second-quarter earnings for CY2024, revealing a significant sales shortfall.

Key Financial Metrics

Revenue: $143.4 million - down 44.9% year-over-year
Full-year revenue guidance: $875 million - 3.9% below analyst estimates
GAAP loss: ($0.36) per share - improved from ($0.40) per share last year

Conclusion

The decline in revenue and missed projections have contributed to a downward trend in Plug Power's stock price. Investors are advised to monitor the company's performance closely as it navigates these challenges.

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Plug Power's Q2 Earnings Summary

Key Financial Metrics

Conclusion

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