Plug Power Defers $50M In Sales, Misses Revenue Forecast: JPMorgan Analyst Wants A 'Show-Me Story'
Plug Power Defers $50M In Sales, Misses Revenue Forecast: JPMorgan Analyst Wants A 'Show-Me Story'
Looking ahead, Plug introduced a full-year revenue guidance of $825-925 million. While this aligns with JPMorgan's estimates, it falls short of the $928 million consensus. The company anticipates a stronger back half of the year, driven by its Energy business growth.Plug Power Inc. (NASDAQ:PLUG) recently unveiled its second-quarter results, falling short of Wall Street's expectations.
普拉格能源公司（纳斯达克：PLUG）最近发布了其第二季度业务报告，未能达到华尔街的预期。
JPMorgan analyst Bill Peterson remains cautious, calling it a "show-me story" that requires evidence of consistent performance to overcome its current challenges.
摩根大通分析师Bill Peterson保持审慎，称其为“show-me story”，需要证据证明其持续业绩的表现才能克服当前的挑战。
Timing Is Everything
时间很重要。
Plug Power reported second-quarter revenue of $143 million, missing JPMorgan's forecast of $174 million and the consensus of $186 million. The miss was largely due to the timing of electrolyzer revenue recognition. According to Peterson, Plug Power could have beaten expectations had $50 million in sales not been deferred, .
Plug Power报告了第二季度营业收入为14300万美元，低于摩根大通的预测17400万美元和市场共识18600万美元。这次失误很大程度上是由于氢气电解器收入确认的时间不当。据Peterson称，如果价值5000万美元的销售收入没有推迟，Plug Power本可以超越预期。
Looking ahead, Plug introduced a full-year revenue guidance of $825-925 million. While this aligns with JPMorgan's estimates, it falls short of the $928 million consensus. The company anticipates a stronger back half of the year, driven by its Energy business growth.
展望未来，Plug Power发布了全年营收指导范围为82500-92500万美元。虽然这与摩根大通的估计相符，但还是低于市场共识92800万美元。该公司预计后半年会更强劲，由其能源业务增长驱动。
Read Also: Plug Power Stock Falls On Q2 Earnings: Revenue Miss, EPS Miss, Soft Guidance, New COO And More
阅读更多：Plug Power股票在Q2盈利中下跌：营收不及预期，每股收益失误，软指引，新COO等。
The Latham, New York-based company reported gross margins of -92%, worse than both JPMorgan's estimate of -61% and the consensus of -43%. However, Peterson noted some progress, particularly in fuel margins, though the road to profitability remains long.
这家位于纽约州拉瑟姆的公司报告的毛利率为负92％，比摩根大通的估计-61％和市场共识的-43％还要差。但是，Peterson指出了一些进展，特别是在燃料利润方面，尽管实现盈利仍有很长的路要走。
It now targets "low double-digit negative margins" by year-end.
它现在的目标是到年底实现“低双位数的负利润”。
Plug Power Challenges, Opportunities
Plug Power的挑战和机会
Plug Power continues to face cash flow issues. Peterson emphasized, "the current operating and capital markets environments are challenging," but noted the company's potential for growth in hydrogen fuel cells.
Plug Power仍然面临现金流问题。Peterson强调，“当前的运营和资本市场环境具有挑战性”，但指出该公司在氢燃料电池领域具有增长潜力。
Material handling revenue remains soft. It expects to recover by 2025. Electrolyzer opportunities are also gaining traction. Potential deployments are on the horizon once U.S. policy challenges are addressed.
物料搬运营业收入仍然较弱。它预计到2025年会有恢复。氢气电解器机会也在增加。一旦解决了美国政策上的问题，就有可能部署。
Investment Outlook: Neutral
投资展望：中立
Despite its potential, Plug Power remains a Neutral-rated stock. The company needs "multiple quarters of solid execution" to achieve sustained share outperformance, Peterson says.
尽管有潜力，Plug Power仍是一个中立评级股票。按照Peterson的说法，该公司需要“多个季度的扎实执行”才能取得持续的股价表现。
Plug Power's journey requires patience, with execution being key to unlocking its potential in the hydrogen energy space. Investors will need to watch closely as the company navigates these hurdles.
Plug Power的发展需要耐心，执行是在氢能源领域释放潜力的关键。随着公司克服这些障碍，投资者将需要密切关注情况。
- Clean Tech Titans: Can Enovix, ChargePoint, Archer, Joby Defy The Doubters?
- 清洁技术巨头：Enovix、ChargePoint、Archer、Joby能否打破怀疑者的质疑？
