Plug Power Inc.
CEO : Mr. Andrew J. Marsh
Quarterly earnings growth(YoY,%)
| Period | Revenue | Operating Income | EPS | Release Date |
|---|---|---|---|---|
| 2022 Q4 | 36.3% YoY | 16.4% | -100.0% | 2023-03-01 |
Andy Marsh says,
Factors Impacting PLUG Q4 2022 Earnings Call
- Challenges faced in introducing new products, delays in constructing the hydrogen plant, and macroeconomic conditions have affected the cost of natural gas and hindered performance in 2021.
- PLUG is actively pursuing every aspect of the hydrogen economy, expanding the hydrogen ecosystem, and establishing top-tier manufacturing and supply chain capabilities.
- PLUG’s distinguished list of customers includes Amazon, Walmart, New Fortress Energy, SK, and Renault.
- PLUG plans to expand production of 500 tons of green hydrogen per day across the US by 2025 and build green plants in Europe.
- PLUG aims to generate $1.4 billion in revenue by the end of 2023, commission more than 200 tonnes of liquid green hydrogen plant, exceed $400 million in electrolyzer sales, deploy 30 megawatts of stationary power products, and become the largest global player.
Paul Middleton says,
Product Sales Breakdown
- Material handling expected to make up 55% of sales.
- Electrolyzers to be a significant part with around 30% sales.
- Stationary program targeting up to $100 million sales and will be a meaningful part of sales.
- Fuel will make up most of the rest with cryogenic equipment, liquefiers, tankers, and tanks included in this category.
Fuel Sales and Plant Turn-On
- Fuel sales are expected to increase as plants are turned on this year, and it will become an increasingly meaningful part of the mix moving into ’24.
- Fuel category includes other cryogenic equipment, liquefiers, tankers, and tanks.
Q & A sessions,
EV Fleet and Peaker Plant Deployments
- Large customers looking to deploy EV vehicles for the last mile delivery.
- Deploying electrolyzers in the 8 to 10-megawatt scale for first-generation peaker plants.
Important Milestones
- Turning on the Georgia plant and scaling it up.
- Scaling up the electrolyzer production to 100 megawatts per month.
- Shipping the first large-scale stationary product systems in Q2.
Sales and Cost Down Efforts
- Seasonality of one third two thirds phenomenon in sales is expected to continue.
- Improvements in the first quarter sequentially and throughout the year.
- Bigger impact in the second half due to volume and cost down efforts.
Profitability
- Expected to have a big year in terms of profitability.
- Q4 is expected to be a big quarter for the company.
No bad stock 