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Mar 31, 2024
Plug Power Q1 2024 Earnings Report
Plug Power announced its financial results and operational milestones for Q1 2024.
Key Takeaways
Plug Power announced its Q1 2024 financial results, highlighting progress in hydrogen generation network, electrolyzer contracts, and cryogenic sales expansion. The company is advancing towards securing a loan guarantee from the DOE and has commenced a process to complement it with project equity investors.
Plug expects one-third of its full year revenue to be in the first half of 2024 due to seasonality and new product scaling.
Plug has 20 electrolyzer systems undergoing commissioning at third-party customer sites.
Plug expanded its partnership with Uline and secured a deal with a leading U.S. automotive manufacturer.
Plug's hydrogen generation network, including Georgia and Tennessee plants, reached nameplate capacity with a combined liquid hydrogen production capacity of 25 tons-per-day (TPD).
Revenue by Segment
Forward Guidance
Plug Power is set to retain its leadership role in advancing the hydrogen economy, which is anticipated to experience swift expansion and widespread adoption globally in the future decades, as it enhances its financial performance in the upcoming quarters.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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