Fans of Plug Power (NASDAQ:PLUG) stock have plenty to look forward to heading into the end of the month. Indeed, the hydrogen solutions company is planning an Analyst Day on Aug. 23, where it will showcase its new Georgia hydrogen plant.
What do you need to know about Plug Power’s analyst day?
Well, this morning, Plug announced the invite-only event, which involves both Plug’s senior leadership and hydrogen project teams. The event will tour through the company’s Camden County plant located in Woodbine, Georgia. The tour will involve a review of the accomplishments of the 15 tons-per-day hydrogen plant as well as a tour of the facility itself. Investors should keep note of the event as a source of insight into one of the company’s most developed revenue sources.
The George plant represents one of Plug’s major production centers, although maybe not for long. Plug is currently in the building phase of a state-of-the-art gigafactory capable of eventually producing 500 tons of liquid green hydrogen per day by year-end 2025. As such, the August tour may be an opportunity to glean what lies ahead for this high-growth hydrogen company.
PLUG Stock Attempts to Reverse Yearly Losses With Analyst Day
Plug Power’s upcoming plant tour undoubtably doubles as a fundraising effort for the company in the midst of an unfortunate year for the business. PLUG stock is down 29% year-to-date (YTD) as one of few big losers of this year’s bull market. For comparison, the S&P 500 and Nasdaq Composite are up 14% and 27% so far this year. Should the event go smoothly, analysts could induce further investment interest for PLUG.
That said, Plug’s losses have seemingly only widened this year, even following its relatively optimistic earnings call earlier this month. Indeed, the green machine reported sales of $260.2 million for the second quarter, above estimates. The company also reiterated its prior guidance for full-year revenue of between $1.2 billion and $1.4 billion.
That isn’t to say the company was all smiles in its Q2 financial results. The company reported an EPS loss of 40 cents, well below estimates of a 27 cent EPS loss.
Plug remains a high-growth, high-potential emissions-less energy producer. Indeed, emphasis remains fixated on its high growth potential.
“Management remained very optimistic about its ability to achieve its expected financial targets,” noted TD Cowen analyst Jeffrey Osborne “But given the scar tissue built up over the past quarters and continued delays in project timelines, we see expectations skewing toward the lower end for 2023.”
As of this writing, PLUG stock is up by a little under 1%.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
