Plug Power (NASDAQ:PLUG) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Plug Power (NASDAQ:PLUG) issued its quarterly earnings results on Monday. The electronics maker reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.05), Zacks reports. The company had revenue of $200.60 million for the quarter, compared to the consensus estimate of $198.36 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%.

Here are the key takeaways from Plug Power’s conference call:

• Q3 revenue rose 13% year over year to about $201 million, while gross margin improved to negative 2.7% from negative 68% a year earlier and operating expenses fell to about $70 million. Net cash usage declined to a quarterly low of about $28 million, with no capital raised; reported positive EPS included non-cash fair-value gains, and the company said it would otherwise have reported a net loss.
• Management reaffirmed full-year revenue growth guidance of 15%–16%, implying roughly $280 million of Q4 revenue, and is targeting positive Q4 EBITDAS and approximately flat net cash usage. The outlook depends on executing customer deployments and achieving expected sales volume and mix.
• Material-handling demand strengthened: GenDrive deployments more than doubled year over year to 1,136 units, and a Walmart refresh cycle is expected to begin in Q4 with about 2,000–2,500 units. Plug cited the broader refresh opportunity and potential new customers as additional growth drivers.
• Plug signed a 280 MW electrolyzer supply agreement with Arcadia eFuels and was named preferred supplier for four additional Arcadia projects representing more than 1 GW of potential capacity; it also cited a 50 MW Orica order and other projects in execution or commissioning. However, deliveries under the Arcadia agreement depend on the project reaching notice to proceed, and the company expects electrolyzer revenue to be slightly lower for the full year.
• Q4 cash and earnings expectations face execution and liquidity uncertainties: unplanned plant outages pressured Q3 fuel margins, while Stream asset-sale proceeds are delayed and excluded from the Q4 forecast. Plug ended the quarter with $134 million in unrestricted cash and is targeting release of about $62 million of restricted cash by the end of Q1 2027.

Plug Power Stock Up 3.4%

Plug Power stock opened at $1.50 on Tuesday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -1.19 and a beta of 2.13. The stock has a fifty day simple moving average of $1.76 and a two-hundred day simple moving average of $2.36. Plug Power has a 12 month low of $1.30 and a 12 month high of $4.33. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29.

Trending Headlines about Plug Power

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug reported Q3 revenue of $200.6 million, above analysts’ $198.36 million estimate. It also reaffirmed its 15%–16% revenue-growth outlook and forecast roughly $280 million in Q4 revenue, while targeting positive EBITDAS. Plug reaffirms revenue growth outlook and Q4 forecast
• Negative Sentiment: The company’s Q3 loss of $0.12 per share was wider than the $0.07 loss analysts expected and matched its year-ago loss, underscoring that profitability remains elusive. Plug reports Q3 loss and beats revenue estimates

Insider Buying and Selling at Plug Power

In other news, insider Benjamin Haycraft sold 200,000 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $2.14, for a total transaction of $428,000.00. Following the transaction, the insider directly owned 101,249 shares of the company’s stock, valued at $216,672.86. This represents a 66.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 241,935 shares of company stock valued at $509,397 in the last three months. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PLUG shares. Wall Street Zen upgraded shares of Plug Power from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Morgan Stanley restated an “underweight” rating and set a $1.20 price objective on shares of Plug Power in a research note on Wednesday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Plug Power in a report on Tuesday. Roth Capital reaffirmed a “buy” rating and issued a $5.00 target price (up from $3.50) on shares of Plug Power in a report on Wednesday, August 12th. Finally, Susquehanna dropped their target price on shares of Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.40.

About Plug Power

Plug Power Inc develops hydrogen fuel cell and hydrogen-generation solutions for businesses seeking alternatives to conventional power and fuel sources. Its offerings include fuel cell systems, electrolyzers that produce hydrogen, hydrogen storage and handling equipment, and related infrastructure and services.

The company’s products are used in applications such as material-handling equipment, including warehouse forklifts, as well as stationary power and other industrial and mobility uses.