Plug Power Reports Mixed Q1 Results as Revenue Beats Expectations
Key Ideas
- Plug Power reported a Q1 EPS loss of -$0.21, worse than expected, but revenue of $133.70 million beat analyst forecasts.
- Management expects a revenue of $160 million for the current quarter, surpassing expectations, with operating margin improving.
- Despite not being profitable yet, Plug Power's hydrogen fuel cells power Walmart's forklifts, showing some success.
- Analysts foresee a 22.8% revenue growth for Plug Power over the next 12 months, with a consensus Hold rating and $2.03 price target.
Plug Power, a company specializing in hydrogen fuel cells, recently released its financial results for the first quarter. While the Q1 EPS loss of -$0.21 was higher than expected, the revenue of $133.70 million exceeded analyst predictions. The company's revenue for the current quarter is projected to be $160 million, above the estimates, with an improved operating margin. Despite not reaching profitability, Plug Power's hydrogen fuel cells are being used at Walmart's distribution centers, indicating progress in commercial applications. Analysts anticipate a significant revenue growth of 22.8% for Plug Power in the coming year, marking an improvement compared to previous years. Although the stock has seen a 58% decline in 2025, trading at less than $1, analysts suggest a potential 125% upside with a $2.03 price target. The consensus among 20 Wall Street analysts is a Hold rating for Plug Power, with expectations for adjustments after the recent financial disclosures.