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Sep 30, 2020
Plug Power Q3 2020 Earnings Report
Plug Power achieved a record third quarter with gross billings of $125.6M, the highest quarter in the company's 22-year history.
Key Takeaways
Plug Power reported a record third quarter with gross billings of $125.6M, a 106% increase year-over-year and 73.4% sequentially. The company is raising its 2020 full-year gross billings guidance to $325M-$330M.
Achieved record third quarter gross billings of $125.6M, a 106% increase year-over-year.
Deployed a record 4,100 fuel cell systems and 13 hydrogen fueling stations in Q3 2020.
Raised 2020 full-year gross billings guidance to $325M-$330M.
Proforma Adjusted EBITDA margin in Q3 2020 of 19%.
Plug Power
Plug Power
Forward Guidance
Plug Power is raising the 2020 full-year gross billings guidance to $325M-$330M from $310M and reaffirming the 2021 gross billing guidance of $450 million.
Positive Outlook
- Raising the 2020 full-year gross billings guidance to $325M-$330M.
- Reaffirming 2021 gross billing guidance of $450 million.
- Proforma Adjusted EBITDA margin in Q3 2020 of 19%.
- Building 5 green hydrogen plants in the US with expected completion by 2024.
- Gigafactory will have more than 1.5 gigawatts of capacity.