Plug Power (PLUG) Q4 Results Loom as New CEO Takes the Helm

Key Takeaways

Table of Contents

Fourth quarter 2025 financial results set for release on March 2 after market hours
Wall Street consensus forecasts -$0.11 earnings per share with $217.3M in quarterly revenue
New Chief Executive Jose Crespo begins March 1, facing his first earnings call immediately
Stock price down more than 7% year-to-date, carrying Hold recommendations from analysts and Seeking Alpha
Company reiterates $700M annual revenue target for FY25, signals potential path to EBITDA breakeven

Meta Description: Plug Power (PLUG) set to report Q4 2025 results Monday under fresh CEO leadership, with consensus estimates at -$0.11 EPS and $217.3M revenue.

Plug Power Inc., PLUG

Hydrogen solutions provider Plug Power will release fourth quarter 2025 earnings on Monday, March 2, after the closing bell. The quarterly disclosure arrives at a particularly pivotal juncture given simultaneous executive transitions.

Analyst consensus has converged on an EPS estimate of -$0.11, while revenue projections center around $217.3M. Recent months have seen an equal number of upward and downward revenue estimate revisions—three of each—suggesting uncertainty within the analyst community regarding the company’s trajectory.

Last quarter, PLUG delivered a modest earnings surprise, reporting -$0.12 per share versus consensus estimates of -$0.13. Despite beating expectations, market enthusiasm remained absent, with the stock sliding 1.17% during the following trading day.

This tepid reception mirrors historical trends. The second quarter 2025 results saw Plug Power fall short by $0.04, resulting in a 2.53% stock price retreat. First quarter 2025 proved particularly painful, with shares tumbling over 10% following the announcement. These patterns underscore persistent investor caution surrounding the company’s execution.

Shares traded at $1.91 as of February 26. Year-to-date performance reflects a decline surpassing 7%, even as broader equity indices have remained relatively stable.

Zooming out to the complete 52-week timeframe reveals a more balanced picture—PLUG has advanced 22.33%, offering some comfort to longer-term investors.

New CEO Assumes Control at Pivotal Juncture

This quarterly announcement represents Jose Crespo’s inaugural earnings event as the company’s top executive. Beginning his role on March 1, Crespo will oversee the earnings presentation mere hours after officially taking charge.

Investors will be listening intently for any indication of strategic pivots or major operational priorities under the new leadership regime.

The Chief Financial Officer has previously highlighted the second half of 2026 as a crucial window for operational enhancements, citing improved sales dynamics, higher volumes, and better cost management. On the topic of EBITDA breakeven, executives have suggested it’s “definitely in the art of the possible to go sooner.”

Leadership has also alluded to certain historical obstacles that have weighed on performance, though specifics have not been publicly detailed.

Balance Sheet Reveals Persistent Headwinds

The firm’s financial fundamentals continue to show strain. Critical indicators include a net margin of -204.38%, return on equity at -23.36%, and return on assets registering -11.21%—all significantly underperforming sector averages.

One bright spot: the debt-to-equity ratio sits at 0.7, which remains below typical industry levels. This relatively modest leverage affords management additional strategic maneuverability.

Revenue growth came in at 1.91% during the quarter ending September 30, 2025. Though technically positive, this expansion rate falls short of what’s typically observed across the Industrials sector.

Executives have highlighted the electrolyzer business as a key growth driver, voicing optimism about expansion possibilities during the current fiscal year.

The $700M full-year 2025 revenue guidance remains intact.

Both Seeking Alpha’s proprietary rating system and Wall Street’s analyst consensus have settled on Hold recommendations for the shares.

Monday’s fourth quarter report will offer the first glimpse into how Crespo intends to address the company’s ongoing operational challenges.