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Plug Power Third Quarter 2022 Earnings: Misses Expectations

Plug Power (NASDAQ:PLUG) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$188.6m (up 31% from 3Q 2021).

  • Net loss: US$170.8m (loss widened by 60% from 3Q 2021).

  • US$0.29 loss per share (further deteriorated from US$0.19 loss in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Plug Power Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Electrical industry in the US.

Performance of the American Electrical industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Plug Power's balance sheet.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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