Plug Power's Electrolyzer Sales Jump in Q1: Can the Momentum Sustain?
Among its major peers, FuelCell Energy, Inc. FCEL reported product revenues, which include its electrolyzer line, of $13.0 million in the second quarter of fiscal 2025. FuelCell's total revenues rose 67% to $37.4 million in the same period, reflecting gains in service agreements. However, FuelCell's electrolyzer sales remained minimal as it advances early-stage commercialization.PLUG's another peer, Bloom Energy Corporation's BE product and service revenues, which include its electrolyzer business, increased 26.5% year over year in the first quarter of 2025. Bloom Energy's total revenues rose 38.6% year over year. Bloom Energy is rapidly expanding its electrolyzer deployment efforts.
Shares of Plug Power have lost 46.5% in the year-to-date period compared with the industry's decline of 20.2%.
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From a valuation standpoint, Plug Power is trading at a forward price-to-earnings ratio of a negative 2.27X against the industry average of 20.45X. PLUG carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for PLUG's bottom line for second-quarter 2025 and 2025 has increased in the past 60 days.
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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Plug Power, Inc. (PLUG) : Free Stock Analysis Report
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Bloom Energy Corporation (BE) : Free Stock Analysis Report
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