Plug Power (PLUG) Reports Q3 Loss, Misses Revenue Estimates

Core Insights - Plug Power reported a quarterly loss of $0.25 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.24, but an improvement from a loss of $0.47 per share a year ago, indicating a -4.17% earnings surprise [1] - The company generated revenues of $173.73 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 16.38% and down from $198.71 million year-over-year [2] - Plug Power's stock has declined approximately 55.8% year-to-date, contrasting with the S&P 500's gain of 25.8% [3] Company Performance - Over the last four quarters, Plug Power has consistently failed to meet consensus EPS estimates [2] - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $336.29 million, and for the current fiscal year, it is -$1.15 on revenues of $807.6 million [7] - The estimate revisions trend for Plug Power is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Manufacturing - Electronics industry, to which Plug Power belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment [5]