secwatch.observer — SEC 8-K summary
======================================

Issuer:     PLUG POWER INC (PLUG)
CIK:        0001093691
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001104659-24-059112
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093691/000110465924059112/0001104659-24-059112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093691/000110465924059112/tm2413836d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-059112

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer