Plug Power Q2 Earnings: Revenue Jumps 72%, EPS Misses Estimates, Green Hydrogen Company Reaffirms Guidance
Portfolio Pulse from Adam Eckert
Plug Power Inc reported Q2 results with a 72% YoY increase in revenue to $260.18 million, beating estimates of $242.24 million. However, the company reported a loss of 40 cents per share, missing analyst estimates of a loss of 26 cents per share. The company reaffirmed its full-year 2023 revenue guidance of $1.2 billion to $1.4 billion. After the announcement, Plug shares were down 5.21% after hours.
August 09, 2023 | 8:20 pm
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Plug Power's Q2 revenue exceeded estimates, but the company reported a larger loss per share than expected. The company reaffirmed its 2023 revenue guidance. Following the announcement, the company's shares fell 5.21% after hours.
Despite beating revenue estimates, Plug Power's larger than expected loss per share likely contributed to the after-hours drop in the company's share price. The reaffirmation of the 2023 revenue guidance suggests that the company's long-term outlook remains unchanged.
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