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Plug Power | 8-K: 2023 Fourth Quarter and Annual Financial Results

SEC announcement · Mar 1 07:14

PLUG -0.43%

Summary by Moomoo AI

On March 1, 2024, Plug Power Inc., a leader in hydrogen fuel cell technology, reported its financial results for the fourth quarter and full year ended December 31, 2023. The company, listed on the Nasdaq and headquartered in Latham, New York, announced significant operational milestones, including the commissioning of the largest PEM electrolyzer system in the U.S. at its Georgia hydrogen plant and the deployment of a large-scale stationary product. Plug Power expanded its customer base with key clients like Walmart, Home Depot, Amazon, Tyson, and Sam's Club, and entered the European market with STEF as its first pedestal customer. Financially, Plug Power resolved its going concern issue, demonstrating its ability to continue operations, and reported a record revenue of $891 million for 2023, a 27% increase over the previous year. However, the company experienced an EPS loss of $2.30, attributed to growth investments and non-cash charges of approximately $325 million. CEO Andy Marsh emphasized the company's commitment to financial stability and the advancement of the green hydrogen economy. The company has scheduled a conference call to discuss the results further.

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This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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