Yahoo Finance Plug Power Inc. (NASDAQ:PLUG) Q1 2024 Earnings Call Transcript
Plug Power Inc. (NASDAQ:PLUG) Q1 2024 Earnings Call Transcript May 9, 2024
Plug Power Inc. misses on earnings expectations. Reported EPS is $-0.46124 EPS, expectations were $-0.33. Plug Power Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Greetings and welcome to the Plug Power First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Meryl Fritz, Marketing and Communications Manager. Thank you, Meryl. You may begin.
Meryl Fritz: Thank you. Welcome to the Plug Power Q1 earnings call. This call will include forward-looking statements. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated results from operations and developments and other matters that are not historical facts. We intend these forward-looking statements to be covered by the Safe Harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We believe that it is important to communicate our future expectations to investors. However, investors are cautioned to not unduly rely on forward-looking statements and such statements should not be read or understood as a guarantee of future performance or results.
Such statements are based upon the current expectations, estimates, forecasts and projections as well as the current beliefs and assumptions of management and are subject to significant risks and uncertainties that could cause actual results or performance to differ materially from those discussed as a result of various factors, including, but not limited to, the risks and uncertainties discussed under Item 1A Risk Factors in our Annual Report on Form 10-K for the fiscal year ending December 31st, 2023, subsequent quarterly reports on Form 10-Q and other reports we file from time to time with the Securities and Exchange Commission. These forward-looking statements speak only of day in which the statements are made and we do not undertake or intend to update any forward-looking statements after this call or as a result of new information.
At this point I would like to turn the call over to Plug Power's CEO, Andy Marsh.
Andy Marsh: Thank you, Meryl, and good morning, everyone, and thank you for joining us today. This quarter has been pivotal for Plug. As we continue to execute on our mission to drive the green hydrogen economy, we are focused intensely on enhancing our cash management strategies and accelerating sales growth. These efforts are crucial as we navigate through the recalibrations necessary for long-term sustainable growth. Our strategic decisions this quarter are designed to solidify our leadership in the green hydrogen economy. We've made significant strides in scaling up our operations. Our hydrogen generation network has been -- particularly has seen substantial growth. The production facilities in Georgia, Tennessee are currently performing at full capacity and we're eagerly anticipating the completion of our new plant in Louisiana.
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