Plug Power Q1 revenue $120.3M, EPS loss $0.46; cash burn down 38% QoQ

PLUG POWER INC

2024-Q1 EPS reported -$0.46 revenue$120,264,000

Revenue of $120.3M; GAAP EPS loss of $0.46 per share; cash burn (operating + capex) down 38% QoQ and 42% YoY.
Gross margin improved in Fuel Delivered, Service, and PPA vs Q1/Q4 2023; equipment margins hurt by lower inventory/production.
Recorded restructuring costs of ~$6M and non-cash asset impairment charges of ~$40M in Q1.
Hydrogen plants in Georgia and Tennessee producing at 25 TPD nameplate; Louisiana 15 TPD plant on track for 2024.
DOE grants of up to $163M awarded; BEDP contracts total ~4.5 GW globally; new material handling deals with Uline and leading automaker.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLUG POWER INC reported the first quarter ended March 31, 2024 results: revenue $120.3 million, EPS $0.46 loss per share.

Period: the first quarter ended March 31, 2024
Revenue: $120.3 million
EPS: $0.46 loss per share
Result: reported results

Exact text from the filing

The Company reported revenue of $120.3 million and EPS loss of $0.46 for the quarter ended March 31, 2024.

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PLUG POWER INC filing history →

Source: SEC EDGAR

accession 0001104659-24-059112

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