Within the broader Industrial Products sector, the following companies have recently reported earnings numbers. While the bottom line deteriorated year over year, the top line improved. Total revenues of $188.63 million missed the Zacks Consensus Estimate of $240 million. In third-quarter 2022, Plug Power incurred an adjusted loss of 30 cents per share, wider than the Zacks Consensus Estimate of a loss of 25 cents. Zacks Rank: Plug Power currently carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.Įarnings ESP: Plug Power has an Earnings ESP of -1.36%. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. Our proven model does not conclusively predict an earnings beat for Plug Power this time around. Story continues What the Zacks Model Unveils The consensus mark for revenues from fuel delivered to customers and related equipment indicates more than 100% surge from the third-quarter 2022 reported figure. The Zacks Consensus Estimate for net revenues from Power Purchase Agreements hints at a 37.6% rise from the sequential quarter’s reported number.Īn increase in the number of sites with fuel contracts is likely to have boosted revenues from fuel delivered to customers and related equipment. ![]() Revenues from Power Purchase Agreements are expected to reflect a sequential increase on the back of new sites for existing customers and new customers accessing the PPA solution. The consensus mark for revenues from services performed on fuel cell systems and related infrastructure suggests a 68.8% surge from the previous quarter’s reported figure. The Zacks Consensus Estimate for revenues from sales of fuel cell systems, related infrastructure and equipment indicates an increase of 69.6% sequentially.Įxpanding customer base is expected to have driven revenues from services performed on fuel cell systems and related infrastructure. The benefits of these acquisitions are likely to get reflected in revenues from sales of fuel cell systems, related infrastructure and equipment. However, the acquisitions of Applied Cryo (November 2021), Frames Holding (December 2021) and Joule Processing (January 2022) are expected to have boosted the company’s performance. High commodity costs due to inflationary pressure, and costs associated with supply-chain issues, including logistics, procurement, manufacturing costs and fuel costs, are likely to have weighed on Plug Power’s fourth-quarter performance.
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