Plug's Q1 net loss expands to nearly USD 300m as revenue drops
- Admin
- May 10, 2024
- 1 min read
Plug Power Inc, the US turnkey hydrogen solutions provider, reported a widened net loss in the first quarter as its revenue declined by 43%. The company faced headwinds on equipment margins due to inventory adjustments and restructuring costs. Despite this, Plug believes it can improve margins with price increases and upcoming milestones such as the completion of a new hydrogen production facility in Louisiana and receiving a conditional commitment approval from the Department of Energy for a loan guarantee.
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