The uncertain macro environment demands constant reassessment around companies’ anticipated performance. Coming off the back of J.P. Morgan’s recent Energy, Power and Renewables Conference, firm analyst Bill Peterson notes that Plug Power’s (PLUG) management continues to see “significant seasonality” in the material handling and electrolyzer businesses. This will nudge sales to the back half of the year and will result in a 35% - 65% split between 1H and 2H, which is “more back half-weighted” than Peterson’s previous estimates. As such, the analyst now sees Q2 revenue coming in at $146 million compared to $215 million beforehand (consensus estimates stand at $169 million).
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Plug Power (NASDAQ:PLUG)
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