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Plug Power Earnings, Revenue Miss in Q3

Published 11/10/2021, 05:38 AM
© Reuters
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By Sam Boughedda

Investing.com — Plug Power Inc (NASDAQ:PLUG) announced a loss per share of 19 cents on revenue of $143.9 million. Analysts polled by Investing.com anticipated a loss per share of 8 cents on revenue of $144.14 million.

While revenue was up 34% year over year, the miss on both earnings and revenue has seen Plug Power shares fall 4.7% in after hours trading, to $38.75.

Plug Power shipped 4,559 GenDrive units and had revenue associated with 16 hydrogen infrastructure systems for the third quarter 2021, compared to 3,709 GenDrive units and 13 hydrogen infrastructure systems in the third quarter last year.

The hydrogen fuel cell company raised revenue guidance for 2022 due to acquisitions and commercial traction to between $900 million and $925 million.

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