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Plug Power | 8-K: Plug Announces First Quarter 2024 Financial Results

Plug Power | 8-K: Plug Announces First Quarter 2024 Financial Results

普拉格能源 | 8-K:Plug 公布2024年第一季度财务业绩
美股SEC公告 ·  05/09 04:27

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On May 9, 2024, Plug Power Inc. released its financial results for the first quarter of 2024, ending March 31. The company reported a revenue of $120.3 million and an earnings per share (EPS) loss of $0.46. Notably, Plug Power has reduced its net cash used in operating activities and capital expenditures by 38% quarter-over-quarter, emphasizing inventory reduction as a key part of its cash management strategy. Despite facing headwinds on equipment margins due to a focus on lowering inventory and limiting production, the company saw improvements in gross margins for Fuel Delivered, Service, and Power Purchase Agreements compared to previous quarters. Plug Power also highlighted its advancements in its hydrogen generation network, with significant production milestones reached at its Georgia and Tennessee plants and...Show More
On May 9, 2024, Plug Power Inc. released its financial results for the first quarter of 2024, ending March 31. The company reported a revenue of $120.3 million and an earnings per share (EPS) loss of $0.46. Notably, Plug Power has reduced its net cash used in operating activities and capital expenditures by 38% quarter-over-quarter, emphasizing inventory reduction as a key part of its cash management strategy. Despite facing headwinds on equipment margins due to a focus on lowering inventory and limiting production, the company saw improvements in gross margins for Fuel Delivered, Service, and Power Purchase Agreements compared to previous quarters. Plug Power also highlighted its advancements in its hydrogen generation network, with significant production milestones reached at its Georgia and Tennessee plants and the Louisiana plant on track for completion in 2024. The company has secured DOE grants totaling up to $163 million for various projects and has expanded its partnership with Uline and a leading U.S. automotive manufacturer. Plug Power's CEO, Andy Marsh, expressed confidence in the company's progress and its role in advancing the hydrogen economy. A conference call was held on the same day to discuss the results, with a webcast available on the company's website.
2024年5月9日,Plug Power Inc.发布了截至3月31日的2024年第一季度的财务业绩。该公司报告收入为1.203亿美元,每股收益(EPS)亏损0.46美元。值得注意的是,Plug Power已将其用于运营活动和资本支出的净现金同比减少了38%,强调减少库存是其现金管理战略的关键部分。尽管由于专注于降低库存和限制产量,设备利润率面临阻力,但与前几个季度相比,该公司的燃料交付、服务和电力购买协议的毛利率有所提高。Plug Power还强调了其在氢气发电网络方面的进步,其乔治亚州和田纳西州工厂达到了重要的生产里程碑,路易斯安那州的工厂有望在2024年完工。该公司已为各种项目获得了总额高达1.63亿美元的美国能源部拨款,并扩大了与Uline和一家领先的美国汽车制造商的合作伙伴关系。Plug Power的首席执行官安迪·马什对公司的进展及其在推进氢经济中的作用表示了信心。当天举行了电话会议,讨论结果,并在该公司的网站上进行了网络直播。
2024年5月9日,Plug Power Inc.发布了截至3月31日的2024年第一季度的财务业绩。该公司报告收入为1.203亿美元,每股收益(EPS)亏损0.46美元。值得注意的是,Plug Power已将其用于运营活动和资本支出的净现金同比减少了38%,强调减少库存是其现金管理战略的关键部分。尽管由于专注于降低库存和限制产量,设备利润率面临阻力,但与前几个季度相比,该公司的燃料交付、服务和电力购买协议的毛利率有所提高。Plug Power还强调了其在氢气发电网络方面的进步,其乔治亚州和田纳西州工厂达到了重要的生产里程碑,路易斯安那州的工厂有望在2024年完工。该公司已为各种项目获得了总额高达1.63亿美元的美国能源部拨款,并扩大了与Uline和一家领先的美国汽车制造商的合作伙伴关系。Plug Power的首席执行官安迪·马什对公司的进展及其在推进氢经济中的作用表示了信心。当天举行了电话会议,讨论结果,并在该公司的网站上进行了网络直播。
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