Plug Power (PLUG) Misses Q4 EPS by $1.02

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February 25, 2021 6:20 AM EST

Plug Power (NASDAQ: PLUG) reported Q4 EPS of ($1.12), $1.02 worse than the analyst estimate of ($0.10).

  • 2020 marked a record year in gross billings, with Q4 gross billings of $96.3 million and $337 million for the full year reflecting the Company’s strong value proposition in the growing hydrogen industry
●As previously announced, reported revenue and results were negatively impacted by certain costs of $456 million recorded in the fourth quarter, the majority being non-cash charges related to the accelerated vesting of a customer’s remaining warrants. Given the expenses for this customer program have been fully expensed, the Company’s go-forward reported results should be easier to understand. This resulted in reported revenue of negative $316 million for the quarter and negative $100 million for the full year.
●Plan to make continued investment during 2021 to deliver on substantial growth opportunity in the green hydrogen economy on a global basis
●Strong balance sheet with now over $5 billion in cash to execute on its global growth strategy and objectives
●On track to deliver on recently raised 2021 and 2024 financial targets
●Added a fourth pedestal customer and selected site for gigafactory to drive scale
●Executed strategic acquisitions of United Hydrogen and Giner ELX positioning Plug Power as a fully vertically green hydrogen generation company
●Announced global joint ventures and strategic partnerships with Renault, SK Group and ACCIONA

For earnings history and earnings-related data on Plug Power (PLUG) click here.


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