Plug Power offers softer-than-expected 2025 sales guidance, appoints new president

Investing.com -- Plug Power Inc. (NASDAQ: PLUG) shares dropped 2% in premarket trading Wednesday following the release of softer-than-expected revenue guidance for 2025.

In a press release ahead of its sixth annual Plug Symposium at the company's Vista headquarters and manufacturing facility in Slingerlandshe, the hydrogen solutions provider outlined its plans for the coming years, targeting a revenue range between $850 million and $950 million in 2025, with gross margins anticipated to improve to between -20% and -5%.

The guidance reflects tempered expectations amidst Plug's ambitious growth and development in the green hydrogen sector.

The company, however, remains optimistic about longer-term growth, projecting a compounded annual growth rate (CAGR) of around 30% for its Energy and Applications segments from 2025 to 2030.

This growth will focus on Plug's electrolyzer and cryogenic solutions, along with expanding its middle-market applications in Material Handling and large-scale stationary products.

The company also announced the promotion of Sanjay Shrestha to President.

Previously Plug's Chief Strategy Officer and General Manager of Energy Solutions, Shrestha is said to have played a pivotal role in expanding the company's product offerings and building out its hydrogen production capabilities.

In his new role, Shrestha will drive Plug's strategic initiatives with an eye toward enhancing shareholder value.

"As I take on this new responsibility, I'm profoundly appreciative of the confidence vested in me to guide the strategic implementation of our path to profitability and delivering on our 2025 objectives," Shrestha stated.

Source: Investing.com

Последние публикации
Cisco shares down despite upbeat guidance, better-than-expected Q1 results
14.11.2024 - 11:00
NetEase earnings missed by ¥0.64, revenue fell short of estimates
14.11.2024 - 11:00
Europe's STOXX 600 rises on boost from energy, tech stocks
14.11.2024 - 11:00
WH Smith stock down, high street under pressure
14.11.2024 - 11:00
ASML shares rise as analysts cheer guidance for sales growth through 2030
14.11.2024 - 11:00
Barclays favors US growth stocks on Big Tech strength
14.11.2024 - 11:00
Japan's megabanks see record annual profit after bumper Q2 as rate hikes boost margins
14.11.2024 - 11:00
Etihad Airways's nine-month profit up 66% on booming passenger numbers
14.11.2024 - 11:00
Siemens shares higher on better-than-expected earnings
14.11.2024 - 10:00
Top Russian official Shoigu visits Zhuhai air show on final trade day
14.11.2024 - 10:00
European stocks mixed; ASML shines ahead of eurozone growth data
14.11.2024 - 10:00
Aviva posts strong Q3 trading update, shares up
14.11.2024 - 10:00
Crypto market cap hits record $3.2 trillion, CoinGecko data shows
14.11.2024 - 10:00
Energy, tech stocks boost European shares at open
14.11.2024 - 10:00
Indonesia stocks lower at close of trade; IDX Composite Index down 0.88%
14.11.2024 - 10:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?