Plug Power Q2 results on deck: What to expect

Plug Power (NASDAQ:PLUG) rose 0.93% on Wednesday, ahead of its second-quarter results announcement scheduled for August 8th, before the opening bell.

Wall Street, on average, expects the Latham, N.Y.-based company to post a quarterly EPS of -$0.29 along with a revenue of $186.23M (-28.4% Y/Y).

Over the last three months, EPS estimates have seen two upward revisions and six downward. Revenue estimates have seen one upward revision and 17 downward.

During the reporting quarter, Plug Power announced the receipt of a conditional commitment for a loan guarantee of as much as $1.66 billion from the U.S. Department of Energy to finance the development, construction, and ownership of up to six green hydrogen production facilities.

In its previous quarterly results, Plug Power fell about 6% in premarket trading after reporting a larger-than-expected loss that exceeded total revenues amassed during the quarter.

“Plug Power has also been a consistent money loser, bringing in inadequate revenues to sustain its operations,” said The Long View Investor, SA analyst.

As a result, the company has relied on a steady diet of debt and dilution to stay afloat, hurting investors who put their faith and capital in this name, hoping to capitalize on the growth of hydrogen, the analyst added.

Since the start of the year, Plug Power has lost about half of its value. Seeking Alpha’s Quant has rated the company as a Strong Sell, while sell-side analysts recommend the company as a Hold.