The earnings call highlighted significant growth in electrolyzer deployment, revenue, and gross margins, as well as strategic partnerships and financial flexibility from a new convertible deal. However, concerns about DOE loan timing, operational challenges, and regulatory uncertainty presented notable risks.

Company Guidance

During the Plug Power Q3 2024 earnings call, the executives provided guidance indicating a strong focus on expanding their hydrogen production capacity and improving financial resilience. The company reported Q3 revenue of $173.7 million, with a significant 37% quarter-over-quarter increase in gross margins due to gains in equipment, service, and fuel businesses. Plug Power plans to deploy the world's largest PEM electrolyzer systems with Galp in April 2025 and is progressing on a 25 MW order with Iberdrola and BP. The company also highlighted a $200 million convertible deal with Yorkville Capital to minimize shareholder dilution. Looking ahead, Plug Power is optimizing operations to further reduce cash burn, which decreased by 27% in Q3, and anticipates further improvements in cash flow and sales growth. Additionally, they are targeting a $200-$250 million reduction in inventory to enhance liquidity and are working with the DOE to finalize a $1.7 billion loan facility.

Record Deployment of PEM Electrolyzers

Plug Power deployed 70 megawatts of PEM electrolyzers in Q3 2024, making it the largest single deployer worldwide.

Revenue and Margin Growth

Q3 2024 revenue reached $173.7 million, with a 37% quarter-over-quarter increase in gross margins.

Strategic Expansion and Partnerships

Plug Power expanded its hydrogen infrastructure in the U.S. and secured partnerships with major companies like Galp, Iberdrola, and BP for large-scale electrolyzer deployments.

Convertible Deal with Yorkville Capital

Plug Power announced a $200 million convertible deal with Yorkville Capital, providing financial flexibility with a 46% premium conversion price.

Reduction in Cash Burn

Plug Power reduced its cash burn by 27% compared to the previous quarter, highlighting improved cash management.

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Plug Power (PLUG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PLUG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 27, 2025	2024 (Q4)	-0.23 / -	-1.08	―	―	―
Nov 12, 2024	2024 (Q3)	-0.24 / -0.25	-0.47	46.81% (+0.22)	―
Aug 08, 2024	2024 (Q2)	-0.31 / -0.36	-0.4	10.00% (+0.04)	―
May 09, 2024	2024 (Q1)	-0.33 / -0.46	-0.35	-31.43% (-0.11)	―
Mar 01, 2024	2023 (Q4)	-0.37 / -1.08	-0.38	-184.21% (-0.70)	―
Nov 09, 2023	2023 (Q3)	-0.30 / -0.47	-0.3	-56.67% (-0.17)	―
Aug 09, 2023	2023 (Q2)	-0.27 / -0.40	-0.3	-33.33% (-0.10)	―
May 09, 2023	2023 (Q1)	-0.27 / -0.35	-0.27	-29.63% (-0.08)	―
Mar 01, 2023	2022 (Q4)	-0.25 / -0.38	-0.33	-15.15% (-0.05)	―
Nov 08, 2022	2022 (Q3)	-0.24 / -0.30	-0.19	-57.89% (-0.11)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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PLUG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$1.99	$1.91	-4.02%
Aug 08, 2024	$2.08	$2.08	0.00%
May 09, 2024	$2.52	$2.77	+9.92%
Mar 01, 2024	$3.53	$3.89	+10.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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