Overview
- Plug Power reported Q3 revenue of $177.1 million and an adjusted loss of $0.12 per share, topping the consensus estimate of a $0.13 loss.
- Profitability remained severely negative, with a gross margin of -70.7% and a net margin of -313.7%, alongside $127.3 million of quarterly cash burn.
- Management outlined a plan to generate more than $275 million through asset monetization, release of restricted cash, and cost reductions.
- Shares closed at $2.25, down 9.84% on the day, with a seven-day decline of about 15.3% and elevated weekly volatility; analysts stayed cautious as price targets ranged from $0.90 to $3.00, though JP Morgan kept a Buy rating.
- Plug Power said it secured a 55‑megawatt electrolyzer supply agreement with Carlton Power for three U.K. green hydrogen projects, described as the largest combined award announced in the country to date.