Plug Power (PLUG) Q1 Earnings Report Preview: What To Look For
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Fuel cell technology Plug Power (NASDAQ:PLUG) will be reporting results this Monday after market hours. Here’s what to look for.

Plug Power beat analysts’ revenue expectations last quarter, reporting revenues of $225.2 million, up 17.6% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.

Is Plug Power a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Plug Power’s revenue to grow 5.6% year on year, slowing from the 11.2% increase it recorded in the same quarter last year.

Plug Power Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Plug Power has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Plug Power’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Generac reported revenues up 12.4%, topping estimates by 1.1%. Bloom Energy traded up 27.2% following the results while Generac was also up 19.4%.

Read our full analysis of Bloom Energy’s results here and Generac’s results here.

There has been positive sentiment among investors in the renewable energy segment, with share prices up 5% on average over the last month. Plug Power is up 14.2% during the same time and is heading into earnings with an average analyst price target of $2.83 (compared to the current share price of $3.14).

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