Plug Power Inc. (NASDAQ:PLUG) J.P. Morgan 2024 Industrials Conference March 14, 2023 9:00 AM ET Company Participants Paul Middleton - Chief Financial Officer Conference Call Participants Bill Peterson - J.P. Morgan Bill Peterson Okay. Well, good morning. Welcome to the J.P. Morgan's Industrial Conference. And here on the last day I have a few companies stay [ph]. One is Plug Power, really a pioneer in green hydrogen. And we have Paul Middleton, who's the CFO. He's going to just say a couple of intro comment ...

Shares of Plug Power (NASDAQ:PLUG) stock are in the spotlight after the company released a Form 8-K detailing a note exchange. On March 12, Plug entered into privately negotiated exchange agreements with some owners of its 3.75% convertible senior notes due in 2025. In exchange for $138.81 million of the 2025 notes, Plug will provide the holders with $140.39 million of its new 7% convertible senior notes due in 2026. In the 8-K Plug stated:“The conversion rate for the New Notes will initially be 235.4049 sh ...

Plug Power (PLUG 3.08%) stock has been on a roller coaster. In 2020, shares suddenly zoomed, increasing 60 times in value. Over the next several years, however, the stock gave up nearly all of those gains.With a history of huge runs followed by steep losses, it is fair to ask: What will happen to Plug Power stock over the next five-year period?This is what management wants you to thinkPlug Power bills itself as a bet on clean energy. Globally, more than $1.7 trillion was invested in clean energy projects in ...

Plug Power (PLUG 3.08%) reported 2023 earnings  last week, and the news was not good.Missing both sales and earnings estimates, Plug reported a loss of $2.30 per share for the year -- 40% worse than expected. Investors initially sold off the stock on this news, but then there was good news.Citing plans to create and sell $1 billion-worth of new stock, and then secure a new $1.6 billion Department of Energy loan, Plug announced its "going concern" warning from last quarter had vanished and it now had all the ...

公司财务状况 - Plug Power在2023年错过了销售和盈利预期，全年亏损2.30美元每股[1] - 公司计划发行10亿美元的新股，并从能源部获得16亿美元的新贷款，以确保足够的流动性，不再存在公司无法继续运营的重大疑虑[1] - Plug Power去年烧掉18亿美元现金，如果公司能够通过股票发行和政府贷款筹集足够的资金，将能够维持至少18个月的业务运营[4] - 即使Plug Power无法获得贷款，仅仅通过发行和销售大量新股票，10亿美元的现金也足以维持至少未来几个季度的业务运营[5] 投资建议 - 投资银行Craig-Hallum表示，Plug Power股票可能在一年后价值5美元一股，对新投资者有25%的上涨空间[2] - Plug Power股票是否值得购买，对于Craig-Hallum的分析是否正确，尚不确定，但对于公司未来的前景并不乐观[3] - Plug Power在过去25年中一直未能盈利，股价也下跌了99.7%，对于投资者来说是一种贫困，因此不建议购买该公司的股票[6]

财务表现 - Plug Power公司2023年第四季度净亏损为6.42亿美元，远低于市场预期[2] - 2023年第四季度毛利率为-100%，设备部门成本上升导致EBITDA亏损为6.067亿美元[3] - 预计2024财年收入大致与市场预期一致，但公司未公布具体指导[4] - Plug Power公司披露商誉减值2.495亿美元，与股价低于账面价值有关[3] 未来展望 - 未来12-18个月内预期相对基准指数跌幅在10%以上[15] - 海通国际使用相对评级系统，包括Outperform、Neutral和Underperform[16] - 投资者应根据个人情况和其他考虑因素做出买卖股票的决定[17] - Outperform评级表示股票未来12-18个月的总回报预计将超过相关广泛市场基准[18] - Neutral评级表示股票未来12-18个月的总回报预计与相关广泛市场基准持平[19] - Underperform评级表示股票未来12-18个月的总回报预计将低于相关广泛市场基准[20] 公司信息 - 公司未提及格鲁吉亚工厂的最终投产时间和与美国能源部的贷款状况的更新[5] - 海通国际股票研究评级分布中，优于大市占89.4%，中性占9.6%，弱于大市占1.0%[22] - 海通国际Q100指数包括100支优质中国A股，每季度进行复审[32] - 盟浪义利（FIN-ESG）数据仅供参考，不构成投资建议，不对投资者因使用数据造成的损失负责[34]

公司财务状况 - Plug Power公司近期采取了措施来增强其流动性，避免财务危机[1] - 分析师对Plug Power公司未来仍存在担忧，主要原因包括现金流问题、收入增长不及预期以及利润率低迷[2][3][4] - 公司需要加快收入增长速度，以实现盈利，并通过降低现金燃烧率和减少股票发行来支持持续扩张[5][6] 风险评估 - Plug Power公司仍然存在风险，尽管有潜在增长机会，但分析师仍然对其未来持谨慎态度[7][8]

产品特点 - Plug Power 采用生态系统方法创建综合和整合的氢经济[20][47] - 液态氢相对于气态氢具有更高的密度，运输成本更低[27] - 液态氢便于运输和基础设施建设，成本更低[27] - 液态氢的交付方式更加经济和节省空间[27] - 液态氢加油机支持液态供应和气态供应交付[55] - 液态氢加油机具有液态储罐和气态加压的优势[55] - 6500加仑的液氢储存量，高流量可实现5到10分钟的加注时间[63] - 便携式应用降低基础设施成本，可在几天内投入运营[64] - Plug专注于绿色液氢生产，使用电解水制氢等技术[96] 技术优势 - Plug Power 开发的液态氢便携加油机是一个自包含的项目加油系统[45] - 液态氢加油机可以快速部署，适用于试点项目和小型车队[45] - 液氢泵是装备包的关键驱动因素，提供高压气流[59] - 有不同的加注压力设计，适用于不同车辆应用[61] - 控制/调节加注压力由加注器本身控制，具有流量控制阀和传感器[121] 市场前景 - Plug是唯一一个在该领域内实现垂直整合的公司，提供全面的端到端解决方案[86] - Plug的液氢生成网络目标是到2028年达到每天1000吨[85] - Plug提供多种解决方案，包括液氢运输和高压气体[90] - Plug公司期望在欧洲和美国拥有相同的液氢基础设施[140]

While hydrogen fuel-cell systems specialist Plug Power (NASDAQ:PLUG) was a hot meme trade during the initial year of the Covid-19 crisis, PLUG stock has lost significant momentum since February 2021. Nevertheless, sentiment toward the enterprise remains cautiously optimistic, as evidenced by Craig-Hallum’s latest assessment.Earlier Monday, analysts led by Eric A. Stine lowered their price target of PLUG stock to $5 from $6 while maintaining a “buy” rating. Plug Power benefits from tailwinds pushing the comp ...

公司发展 - Plug Power股价今年已经稳定，投资者关注公司的复苏策略和资产负债表策略[1] - Plug Power获得了美国能源部（DOE）16亿美元的资金支持，这意味着公司可能不会破产[3] - 公司已经在关键工厂取得进展，开始为乔治亚和田纳西的客户提供服务[4] - 公司正在进行成本削减计划，力求节省约7500万美元的年度成本[5] 行业地位 - Plug Power在氢能源行业处于领先地位，这是一个预计在未来几年将继续增长的行业[9] 风险挑战 - 公司面临着一些重大风险，包括与B. Riley的ATM交易以筹集现金，以及长期以来未能达到自己的预期[10] 股价展望 - Plug Power股价展望为温和看涨，可能很快会有强劲的看涨突破[15]