Compared to Estimates, Plug Power (PLUG) Q4 Earnings: A Look at Key Metrics

Core Insights - Plug Power reported revenue of $191.47 million for the quarter ended December 2024, a year-over-year decline of 13.8% and a surprise of -25.45% compared to the Zacks Consensus Estimate of $256.82 million [1] - The company posted an EPS of -$1.65, which is a significant drop from -$1.07 a year ago, resulting in an EPS surprise of -617.39% against the consensus estimate of -$0.23 [1] Revenue Breakdown - Sales of equipment and related infrastructure generated $138.11 million, falling short of the average estimate of $196.67 million, marking a year-over-year decline of 17.8% [4] - Revenue from services performed on fuel cell systems was $11.96 million, below the average estimate of $14.77 million, reflecting a slight year-over-year decrease of 0.3% [4] - Power purchase agreements contributed $19.41 million, slightly below the average estimate of $19.72 million, with a year-over-year change of -1% [4] - Revenue from fuel delivered to customers was $19.92 million, significantly lower than the average estimate of $31.50 million, but showed a year-over-year increase of 5.6% [4] - Other revenue sources amounted to $2.07 million, compared to the average estimate of $2.78 million, indicating a year-over-year decline of 45.2% [4] Gross Profit Analysis - Gross profit from sales of equipment and related infrastructure was reported at -$143.03 million, significantly worse than the estimated -$28.60 million [4] - Gross profit from power purchase agreements was -$36.22 million, compared to the average estimate of -$27.72 million [4] - Gross profit from fuel delivered to customers was -$36.48 million, against an estimated -$18.55 million [4] - Gross profit from services performed on fuel cell systems was -$10.03 million, compared to the estimated -$0.85 million [4] - Other gross profit was $1.50 million, exceeding the average estimate of $0.40 million [4] Stock Performance - Plug Power's shares have returned -19.4% over the past month, contrasting with the Zacks S&P 500 composite's -2.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]