Latest news with #AndyMarsh
Yahoo
4 days ago
- Business
- Yahoo
PLUG Q1 Earnings Call: Revenue Beat Estimates, Europe and Cost Cuts in Focus
Fuel cell technology Plug Power (NASDAQ:PLUG) exceeded the market's revenue expectations in Q1 CY2025, but sales rose 11.2% year on year to $133.7 million. Is now the time to buy PLUG? Find out in our full research report (it's free). Revenue: $133.7 million (11.2% year-on-year growth) Revenue Guidance for Q2 CY2025 is $160 million at the midpoint, above analyst estimates of $158.1 million Market Capitalization: $982.2 million Plug Power's first quarter results reflected renewed momentum in its material handling business and operational progress in hydrogen production. Management pointed to a major initial order from a key customer, as well as expanded partnerships in Europe, as drivers of business activity. CEO Andy Marsh noted the Louisiana hydrogen plant was commissioned on schedule, joining existing facilities in Georgia and Tennessee to boost internal production capacity. Plug Power launched its 'Quantum Leap' cost-saving program, which management claims has already realized a significant portion of targeted savings across manufacturing, logistics, sourcing, and overhead. Marsh emphasized, 'Our Q1 cash burn was down nearly 50% year-over-year and with Quantum Leap, we expect further reductions in cash burns in future quarters.' The company also raised equity and secured structured financing to reinforce liquidity amid industry headwinds. Looking ahead, Plug Power's outlook centers on expanding its presence in Europe's rapidly developing electrolyzer market, while managing uncertainties in U.S. policy. Management highlighted an active project pipeline in Europe, where new regulatory mandates and funding programs are supporting large-scale green hydrogen adoption. Jose Luis Crespo, General Manager of European operations, explained, 'Europe is a fully active electrolyzer market and Plug is in the pole position on project visibility, regulatory fit and delivery readiness.' However, Marsh cautioned about evolving U.S. energy policy, particularly surrounding hydrogen tax credits and tariffs, which may affect domestic project economics. The company is closely monitoring legislative developments and expects European projects to contribute meaningfully to bookings and revenue over the next 18 to 24 months. Plug Power's management attributed quarterly performance to progress in manufacturing efficiency, cost control initiatives, and European market expansion, while also noting policy uncertainties impacting U.S. operations. Cost Reduction Initiatives: The Quantum Leap program was launched to achieve over $200 million in annualized run-rate cost savings, focusing on manufacturing, sourcing, logistics, and SG&A. Management said most targeted savings have already been executed, leading to a nearly 50% year-over-year reduction in cash burn and further improvements expected. European Electrolyzer Momentum: Plug Power expanded its European presence, positioning itself for large-scale projects supported by regulatory mandates, funding incentives, and enforceable compliance deadlines. The company is actively participating in hydrogen projects across Denmark, Spain, Portugal, and the UK, emphasizing its 'full stack offering' and local engineering teams. Hydrogen Production Ramp-Up: The company commissioned its Louisiana hydrogen plant on time, increasing internal production capacity alongside facilities in Georgia and Tennessee. Plug Power highlighted improved operational efficiency at these sites, with the Georgia plant achieving record production and Louisiana benefiting from lessons learned in earlier builds. Customer and Market Diversification: Management reported both expansion with existing material handling customers and penetration into new accounts, including new projects with logistics firms and cold chain operators in Europe. These activities are seen as supporting future revenue stability. Tariff and Policy Mitigation: Recent U.S. tariffs on Chinese imports impacted some core product lines, prompting a multi-pronged strategy: adding potential surcharges, dual sourcing, product redesign, and further geographic diversification. Management emphasized that the electrolyzer platform is minimally affected due to its non-Chinese content. Plug Power's guidance is driven by European market expansion, continued cost reductions, and navigation of U.S. policy changes affecting hydrogen incentives and tariffs. European Project Pipeline: Management sees Europe as the most active opportunity for electrolyzer sales, with enforceable mandates and funding programs supporting sustained growth. The company expects multi-gigawatt contribution to bookings and revenue in the next 18 to 24 months as projects move from backlog to commissioning. Continued Cost Discipline: Plug Power aims to reach gross margin breakeven by year-end, supported by further reductions in cash burn through the Quantum Leap savings program. Management believes discipline in manufacturing and sourcing will help mitigate external cost pressures and improve profitability. U.S. Policy and Tariff Uncertainty: Ongoing debate around U.S. clean energy tax credits (such as Section 45V) and increased tariffs on Chinese components introduce uncertainty for domestic project economics. Plug Power is closely monitoring legislative developments and has implemented mitigation strategies, but acknowledges potential impacts on future U.S. projects. In the coming quarters, the StockStory team will watch (1) how Plug Power executes on its European electrolyzer project pipeline and converts backlog into revenue; (2) the company's ability to achieve further cost reductions and make progress toward gross margin breakeven; and (3) the impact of evolving U.S. policy and tariffs on hydrogen project economics. Developments around the Texas hydrogen facility and broader adoption of hydrogen in material handling will also be important signposts. Plug Power currently trades at a forward price-to-sales ratio of 1.1×. Should you double down or take your chips? See for yourself in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
4 days ago
- Business
- Yahoo
PLUG Q1 Earnings Call: Revenue Beat Estimates, Europe and Cost Cuts in Focus
Fuel cell technology Plug Power (NASDAQ:PLUG) exceeded the market's revenue expectations in Q1 CY2025, but sales rose 11.2% year on year to $133.7 million. Is now the time to buy PLUG? Find out in our full research report (it's free). Revenue: $133.7 million (11.2% year-on-year growth) Revenue Guidance for Q2 CY2025 is $160 million at the midpoint, above analyst estimates of $158.1 million Market Capitalization: $982.2 million Plug Power's first quarter results reflected renewed momentum in its material handling business and operational progress in hydrogen production. Management pointed to a major initial order from a key customer, as well as expanded partnerships in Europe, as drivers of business activity. CEO Andy Marsh noted the Louisiana hydrogen plant was commissioned on schedule, joining existing facilities in Georgia and Tennessee to boost internal production capacity. Plug Power launched its 'Quantum Leap' cost-saving program, which management claims has already realized a significant portion of targeted savings across manufacturing, logistics, sourcing, and overhead. Marsh emphasized, 'Our Q1 cash burn was down nearly 50% year-over-year and with Quantum Leap, we expect further reductions in cash burns in future quarters.' The company also raised equity and secured structured financing to reinforce liquidity amid industry headwinds. Looking ahead, Plug Power's outlook centers on expanding its presence in Europe's rapidly developing electrolyzer market, while managing uncertainties in U.S. policy. Management highlighted an active project pipeline in Europe, where new regulatory mandates and funding programs are supporting large-scale green hydrogen adoption. Jose Luis Crespo, General Manager of European operations, explained, 'Europe is a fully active electrolyzer market and Plug is in the pole position on project visibility, regulatory fit and delivery readiness.' However, Marsh cautioned about evolving U.S. energy policy, particularly surrounding hydrogen tax credits and tariffs, which may affect domestic project economics. The company is closely monitoring legislative developments and expects European projects to contribute meaningfully to bookings and revenue over the next 18 to 24 months. Plug Power's management attributed quarterly performance to progress in manufacturing efficiency, cost control initiatives, and European market expansion, while also noting policy uncertainties impacting U.S. operations. Cost Reduction Initiatives: The Quantum Leap program was launched to achieve over $200 million in annualized run-rate cost savings, focusing on manufacturing, sourcing, logistics, and SG&A. Management said most targeted savings have already been executed, leading to a nearly 50% year-over-year reduction in cash burn and further improvements expected. European Electrolyzer Momentum: Plug Power expanded its European presence, positioning itself for large-scale projects supported by regulatory mandates, funding incentives, and enforceable compliance deadlines. The company is actively participating in hydrogen projects across Denmark, Spain, Portugal, and the UK, emphasizing its 'full stack offering' and local engineering teams. Hydrogen Production Ramp-Up: The company commissioned its Louisiana hydrogen plant on time, increasing internal production capacity alongside facilities in Georgia and Tennessee. Plug Power highlighted improved operational efficiency at these sites, with the Georgia plant achieving record production and Louisiana benefiting from lessons learned in earlier builds. Customer and Market Diversification: Management reported both expansion with existing material handling customers and penetration into new accounts, including new projects with logistics firms and cold chain operators in Europe. These activities are seen as supporting future revenue stability. Tariff and Policy Mitigation: Recent U.S. tariffs on Chinese imports impacted some core product lines, prompting a multi-pronged strategy: adding potential surcharges, dual sourcing, product redesign, and further geographic diversification. Management emphasized that the electrolyzer platform is minimally affected due to its non-Chinese content. Plug Power's guidance is driven by European market expansion, continued cost reductions, and navigation of U.S. policy changes affecting hydrogen incentives and tariffs. European Project Pipeline: Management sees Europe as the most active opportunity for electrolyzer sales, with enforceable mandates and funding programs supporting sustained growth. The company expects multi-gigawatt contribution to bookings and revenue in the next 18 to 24 months as projects move from backlog to commissioning. Continued Cost Discipline: Plug Power aims to reach gross margin breakeven by year-end, supported by further reductions in cash burn through the Quantum Leap savings program. Management believes discipline in manufacturing and sourcing will help mitigate external cost pressures and improve profitability. U.S. Policy and Tariff Uncertainty: Ongoing debate around U.S. clean energy tax credits (such as Section 45V) and increased tariffs on Chinese components introduce uncertainty for domestic project economics. Plug Power is closely monitoring legislative developments and has implemented mitigation strategies, but acknowledges potential impacts on future U.S. projects. In the coming quarters, the StockStory team will watch (1) how Plug Power executes on its European electrolyzer project pipeline and converts backlog into revenue; (2) the company's ability to achieve further cost reductions and make progress toward gross margin breakeven; and (3) the impact of evolving U.S. policy and tariffs on hydrogen project economics. Developments around the Texas hydrogen facility and broader adoption of hydrogen in material handling will also be important signposts. Plug Power currently trades at a forward price-to-sales ratio of 1.1×. Should you double down or take your chips? See for yourself in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
20-05-2025
- Business
- Yahoo
Plug Power's GenEco Electrolyzers Power Live Customer Demos at The Green Box Innovation Hub
Live Demonstration Site in the Netherlands Already Hosting Leading Industrial Plug Customers Plug Power's GenEco Electrolyzers Power Live Customer Demos at The Green Box Innovation Hub SLINGERLANDS, N.Y., May 20, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, today announced that its GenEco electrolyzer systems are fully operational at The Green Box, a cleantech innovation campus in the Netherlands. The site features Plug's 1 MW and 5 MW PEM electrolyzers, which are now running at load and actively supporting live demonstrations and technical workshops for European customers. The GenEco platform is Plug's high-performance, modular electrolyzer system designed for flexible deployment across industrial applications such as refining, sustainable aviation fuel (SAF), and green ammonia production. 'Establishing a live demonstration site at The Green Box is a key step in supporting our European customers,' said Andy Marsh, CEO of Plug Power. 'Being able to showcase GenEco under real-world conditions reinforces confidence in our technology and supports commercial discussions already underway across the region.' Recent visitors to the site include Galp, Technip, Tata Steel, Sener, and several regulatory representatives and notified bodies. The site's successful hydrogen production launch in May 2025 demonstrated the 5 MW GenEco system operating at full load and on specification, primarily powered by on-site solar. Several testing periods aligned with negative electricity pricing, underscoring the economic advantages of integrating Plug's systems with local renewable power. Plug's deployment was enabled by The Green Box's advanced energy infrastructure, including a 6 MW public grid connection and an independently operated 10 kV network. With more than 18,000 solar panels, the campus meets most of its own electricity needs and functions as a smart energy hub—ideal for hosting and scaling technologies like Plug's GenEco electrolyzers. The Green Box strengthens Plug's European footprint, serving as both a live customer showcase and a hub for innovation. Plug continues to advance its regional strategy with an active electrolyzer opportunity pipeline exceeding $21 billion across 2025 and 2026, supported by policy programs such as the EU Green Deal, RePowerEU, and the UK Energy Act. About Plug Power Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers—advancing energy independence and decarbonization at scale. With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee, and Louisiana, producing 40 tons per day. With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW, and BP. Safe Harbor This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. ('Plug'), including but not limited to statements about: the GenEco platform's applicability for flexible deployment across industrial applications; the Green Box cleantech innovation campus' ability to successfully demonstrate the 5 MW GenEco system; the economic advantages of integrating Plug's systems with local renewable power; and Plug's ability to continue to advance its regional strategy with an active electrolyzer opportunity pipeline exceeding $21 billion across 2025 and 2026. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug's public filings with the Securities and Exchange Commission (the 'SEC'), including the 'Risk Factors' section of Plug's Annual Report on Form 10-K for the year ended December 31, 2023, Plug's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information. Media ContactFatimah Nouilati – AllisonplugPR@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
14-05-2025
- Daily Mail
EXCLUSIVE I left my life in the UK behind to explore the remote Arctic - this is why I would NEVER move back
A man revealed he left his business and life in the UK behind to explore the remote arctic - and claims he will never move back. Andy Marsh, from Bournemouth, walked away from a high-pressure career to chase the Arctic dream after catching 'the polar bug'; which changed his life forever. After a trip to Svalbard, an archipelago tucked between mainland Norway and the North Pole, he left his video production business to start anew in one of the most remote corners of the world. The 42-year-old, who is now the founder of Polar Escapes, took the plunge to leave what he knows behind - and start a travel company from scratch in 2019. 'I was nervous about making such a drastic change, but I knew I would be missing out if I didn't do it,' he admitted. 'The financial risk was huge. I was stepping away from a regular client base to something completely new and uncharted, but I was driven by the polar bug that I now had. It was exceptionally challenging. 'The pandemic in 2020 threw travel into absolute chaos. Leaving it all behind to start anew was one of the hardest choices I have made. But I believe to progress you have to make changes and this was the change I decided to make. The risk was worth it'. Andy admitted that while he did 'enjoy it', his past career was 'very stressful at times'. 'There are lots of deadlines and clients' expectations are high,' he explained. 'I am someone that likes to change things up, and after 10 years, I felt like video production had run its course and I was ready to do something else. 'My passion was always to travel, and I wanted to be more connected to that.' He found that her main interest at the time was 'remote places, particularly visiting some of the most remote places on the planet - the ones people don't frequently go to'. Andy claimed a trip to the Falklands in 2011 sparked his curiosity for the less explored regions on the globe. He explained: 'My connection to the polar regions actually began when I visited the Falkland Islands in 2011. The 42-year-old, who is now the founder of Polar Escapes, took the plunge to leave his career in video production and start a travel company from scratch in 2019 Andy claimed a trip to the Falklands in 2011 made him want to explore more remote areas of the world 'I was involved in setting up the first TV station there. I trained a local crew with no experience on camera and editing techniques, and FITV was born. The station is still running today. 'When you've visited somewhere as remote as the Falkland Islands, you begin to wonder, "What's next? What's more remote?" 'For me, the answer was South Georgia Island, which I sailed to in 2018 on a tall ship, one of the most remote islands on Earth with 400,000 King penguins - it's quite a sight.' Andy revealed he went to the Arctic in 2017 on a sailing expedition to Svalbard out of 'curiosity' - and was drawn by 'how far north it is'. 'Svalbard is an incredible place, often referred to as the "Arctic in a nutshell" as you can see all the key species there, including polar bears,' he continued. 'I've visited Svalbard many times, and each time it's a different experience. Nothing beats the feeling of seeing polar bears in the wild for the first time. 'The first trip I did there was with my sister for 10 days on a sailing boat. We sailed up to the edge of the pack ice that extends all the way to the North Pole. We had some really great polar bear sightings as well.' However returning to reality after his travels became more difficult each time - and he was keen to get back on the road. 'Visiting the polar regions becomes almost like an addiction,' he revealed. 'You are driven to see more of it. 'Shortly after I returned home I knew that I had to make my love for travelling in the polar regions a part of what I do for a living. But first I had to work out a way how'. Andy became 'obsessed' with travelling to hidden-away gems and he kept a lookout for more opportunities to travel. Andy added: 'When you travel to the polar regions, it is really difficult to return to normality. It's like you've seen this fantastic other reality and you want more of it. 'After visiting Svalbard in 2017, I sailed to Antarctica and South Georgia on a tall ship in 2018. 'That really was an experience - a 50-day voyage from South America to South Africa via some of the most remote places on Earth. 'Highlights from this trip were landing on Antarctica and doing a polar plunge at Deception Island and exploring South Georgia. 'My one disappointment for this trip was we planned to land on Tristan Da Cunha, the most remote inhabited island on Earth, but the weather was not in our favour. 'We spent four days trying to land, but it wasn't meant to be. So I was within 100 metres of the most remote island on Earth but have yet to step foot on it. It's still on my list of things to do.' 'Andy revealed that another opportunity arose in 2018 - to 'sail a private yacht to Scoresby Sund in an incredibly remote part of East Greenland'. 'As you can imagine, I said yes. At this point in my life, I knew I had to make my work life about travel,' he explained. 'I had spent so much time away that combining running a video production company and exploring the most remote places on Earth was becoming extremely difficult. 'It's very hard to make any career change when you're self-employed. I've been self-employed since 2009, so I am used to the stress and uncertainty that comes with it.' The keen explorer also revealed that he doesn't regret the decision to change his career to chase something more fulfilling. 'It's still early days for me financially, but I'm glad I made the change,' he admitted. 'It was a huge risk that is in the process of paying off. 'My life is certainly richer now. Through my work, I've visited more places in the polar regions, with multiple trips to Svalbard and Greenland. I've made some great friends along the way in far-off places. 'I am very fortunate that I get to travel to the polar regions to test out the different tours we sell. It's almost like a dream job. 'I spend a few weeks per year in the Arctic and the rest of the time working behind a computer, so it's not all travel. My friends think I am the luckiest person alive.' Andy urged others who are considering a similar career change to 'go for it' but know the risks. He said: 'My advice is to go for it and take the leap, but choose how you do it. 'It's better to have lived trying something than living in regret of not trying it at all. 'My advice to people looking to make a drastic change is to look at how you make the change. 'I jumped and did it in one go, and this is not necessarily something I recommend as it is risky. 'Look at how you can build your new dream whilst you're still in your current career and make the change gradually. 'It will be a lot less stressful than jumping in one go. Some of the most successful entrepreneurs worked on their new business for several years whilst still working jobs and made the change gradually. 'If I could go back in time, this is the advice I would give myself.'
Yahoo
14-05-2025
- Business
- Yahoo
Why Plug Power Stock Crashed Today
Plug Power generated more revenue than expected, but missed estimates on the bottom line. Fuel cells used in material handling equipment aren't enough to bring Plug Power to profitability. 10 stocks we like better than Plug Power › Hydrogen fuel company Plug Power (NASDAQ: PLUG) announced revenue grew 11% in the first quarter, but investors are punishing the stock today anyway. Losses continued to mount for the company, even as demand for its hydrogen electrolyzers grew. That led investors to knock Plug shares down by 9.3% as of 1:07 p.m. ET. Investors were also not impressed by the company's guidance for second-quarter revenue, which would represent a decline from the year-ago period at the low end of its range. The increase in sales mainly came from rising demand for fuel cell units used in material handling. Plug has raised billions of dollars to build out hydrogen production infrastructure, though, and fuel cells for forklifts and other material handling equipment won't be enough to provide a sufficient return. The company announced a loan facility for up to another $525 million just last week. Plug said it would use the additional financial flexibility to help it grow its green hydrogen network. It has made progress in expanding that network in the last few years, but that hasn't helped Plug stock, as shares have continued to fall this year. This quarterly report didn't help, as Plug's adjusted loss of $0.21 per share missed estimates by a penny. Andy Marsh, CEO of Plug Power, tried to placate investors, stating, "We're delivering real progress toward profitability and scaling our hydrogen ecosystem to meet growing global demand for clean energy." The current presidential administration is a headwind for the adoption of clean energy in the United States, though. That's likely why Plug's guidance for second-quarter revenue doesn't imply strong growth. Until that growth materializes, Plug stock may be stagnant or continue to drop further. Before you buy stock in Plug Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Plug Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $598,613!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $753,878!* Now, it's worth noting Stock Advisor's total average return is 922% — a market-crushing outperformance compared to 169% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Plug Power Stock Crashed Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
