In This Article:
Plug Power Inc. PLUG reported first-quarter 2025 results, wherein its bottom line missed the Zacks Consensus Estimate.
The company’s adjusted loss was 21 cents per share, wider than the consensus estimate of a loss of 20 cents per share. The bottom line fared better than the adjusted loss of 43 cents per share reported in the prior-year quarter.
Total revenues of $133.7 million beat the consensus estimate of $130 million. The top line increased 11.1% from the year-ago quarter, driven by growing electrolyzer deliveries, continued demand in material handling and ongoing deployments in the cryogenic platform.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Revenue Details
The company generated revenues of $63.5 million from sales of equipment, related infrastructure and other, reflecting a decrease of 7% year over year. Revenues from services performed on fuel cell systems and related infrastructure were $16.9 million, up 29.6% year over year.
Revenues from power purchase agreements were $23.2 million, up 26.8% year over year. The company generated revenues of $29.5 million from fuel delivered to customers and related equipment, reflecting an increase of 61.1% year over year. Revenues from other sources decreased 55.1% year over year to $0.63 million.
Plug Power, Inc. Price, Consensus and EPS Surprise
Plug Power, Inc. price-consensus-eps-surprise-chart | Plug Power, Inc. Quote
PLUG’s Costs & Expenses
The company’s total cost of sales in the quarter was $207.5 million, down 25.7% year over year. Selling, general and administrative expenses were $80.8 million, up 3.7% year over year. Interest expense was $11.5 million compared with $11.3 million a year ago.
Net loss in the first quarter was $196.9 million compared with a net loss of $295.8 million in the year-ago quarter.
Balance Sheet/Cash Flow
Plug Power had cash and cash equivalents of $295.8 million compared with $205.7 million at the end of December 2024. Long-term debt was $1.7 million compared with $1.9 million at 2024-end.
In the first three months of 2025, net cash used in operating activities was $105.6 million compared with $167.7 million in the year-ago period. Capital expenditure totaled $40.5 million in the same period compared with $92.6 million in the year-ago period.
PLUG’s Guidance
For second-quarter 2025, PLUG expects net sales to be to be between $140 million and $180 million.
PLUG’s Zacks Rank
The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.