Plug Power (PLUG) reported $222.16 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 0.6%. EPS of -$1.07 for the same period compares to -$0.38 a year ago.
The reported revenue represents a surprise of +9.67% over the Zacks Consensus Estimate of $202.57 million. With the consensus EPS estimate being -$0.56, the EPS surprise was -91.07%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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 fuel cell systems, related infrastructure and equipment: $167.92 million versus $153.89 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -4.5% change.
- Net revenue- Services performed on fuel cell systems and related infrastructure: $12.01 million compared to the $12.24 million average estimate based on eight analysts. The reported number represents a change of +22.4% year over year.
- Net revenue- Power purchase agreements: $19.60 million versus the eight-analyst average estimate of $17.46 million. The reported number represents a year-over-year change of +19.1%.
- Net revenue- Fuel delivered to customers and related equipment: $18.86 million compared to the $16.81 million average estimate based on eight analysts. The reported number represents a change of +11.5% year over year.
- Net revenue- Other: $3.78 million compared to the $2.21 million average estimate based on seven analysts. The reported number represents a change of +122.1% year over year.
- Gross profit- Power purchase agreements: -$41.57 million versus -$29.18 million estimated by seven analysts on average.
- Gross profit- Fuel delivered to customers and related equipment: -$49.50 million versus the seven-analyst average estimate of -$35.48 million.
- Gross profit- Services performed on fuel cell systems and related infrastructure: -$9.82 million versus -$17.70 million estimated by six analysts on average.
Shares of Plug Power have returned -24.9% over the past month versus the Zacks S&P 500 composite's +5.2% 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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