Plug Power Q2 results on deck: Here’s what to expect

Analysts see Plug Power’s (NASDAQ:PLUG) second-quarter results, which is scheduled for August 11, after market close, posting a solid year-on-year jump.

While the company is expected to continue incurring losses, PLUG may trim it down by over 58% compared to last year to -$0.15. Revenue is likely to come in at $157.97M, translating to a 10.2% jump compared to the corresponding quarter last year.

This quarter, investors are likely to focus on how the company’s growth initiatives and strategic partnerships are contributing to revenue and profitability.

Last month, Plug Power announced a new multi-year enhanced supply agreement with “a leading U.S.-based industrial gas company and longtime hydrogen partner. In June, the company expanded its partnership with Allied Green Ammonia with a new 2-electrolyzer opportunity linked to a sustainable fuels project in Uzbekistan.

In Q1, the company posted mixed results with revenue beating estimates but EPS lagging behind. The company maintained its Q2 revenue outlook in the range of $140 million to $180 million. Additionally, the company anticipates further improvement in gross margin and working capital performance from Q1 2025 onward, continuing through the rest of the year.

The management maintained the target of becoming gross margin break-even by the end of the year.

Over the last 3 months, PLUG’s EPS estimates have seen 4 upward revisions and 2 downward moves, while revenue estimates have seen 8 upward revisions and 9 downward moves.