The financially battered hydrogen company Plug Power has opened its books. So the business ran in the first quarter.
The first business quarter of 2025 has once more ended with deep red numbers for Plug Power. The result per share was -0.21 US dollars after the company had a minus of $ 0.460 per share in the books a year ago. The hydrogen company was worse than hoped that analysts had previously promised an EPS of -0.191 US dollars.
Meanwhile, sales were $ 133.7 million and thus climbed in the previous year comparison when Plug Power had implemented $ 120.3 million. Here the analyst estimates were $ 132.2 million in advance, which was able to reach the company.
Plug wants to increase sales
Plug expects sales between $ 140 and $ 180 million in the second quarter of 2025. Compared to the first quarter of 2025, further improvements to the gross margin and the working capital are expected in the course of the year, according to the company’s press release.
CEO Andy Marsh is confident: “We make real progress in the direction of profitability and scale our hydrogen ecosystem in order to meet the growing global demand for clean energy,” said the CEO as part of the balance sheet publication.
The Plug Power share closed on Tuesday on the USBörse Nasdaq 10.13 percent lower at $ 0.8117.
Editor finance.net
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Image sources: Plug Power Inc.