SPY423.47+2.61 0.62%
DIA339.93+1.15 0.34%
IXIC14,251.08+109.60 0.78%

Plug Power Sees Q1 Revenue Lagging Street Views But Projects Q2 Revenue In-Line With Analyst Estimates

05/10/2021 12:31

04:28 PM EDT, 05/10/2021 (MT Newswires) -- Plug Power (PLUG) late Monday said it expects to report more than $67 million in Q1 revenue, up more than 70% over year-ago levels.

The hydrogen fuel-cell company also is projecting over $102 million in revenue for its current Q2 ending June 30.

Analysts, on average, are expecting $75.9 million and $102.2 million in Q1 and Q2 revenue, respectively, according to Capital IQ.

Plug Power said it is expecting to file the Form 10-Q for its Q1 ended March 31 by May 17, or about a week later than usual while it works to also complete the restatement of its Form 10-K annual report for the 12 months ended Dec. 31.

Price: 19.79, Change: -0.28, Percent Change: -1.40