Plug Power (PLUG) Stock: What to Expect from Earnings on Monday

TLDR

• Plug Power (PLUG) reports Q4 2025 earnings on March 2, after market close
• Consensus EPS estimate is -$0.11 with revenue forecast of $217.3M
• It’s the first earnings report under incoming CEO Jose Crespo, who starts March 1
• The stock is down more than 7% year-to-date and carries a Hold rating from both Seeking Alpha and Wall Street analysts
• FY25 revenue target remains $700M, with EBITDA profitability described as “in the art of the possible”

Meta Description: Plug Power (PLUG) stock faces its Q4 2025 earnings report on March 2 with a new CEO, a -$0.11 EPS estimate, and a $217.3M revenue forecast.

Plug Power Inc., PLUG

Plug Power is set to report Q4 2025 earnings on Monday, March 2, after the closing bell. It’s a report that has more eyes on it than usual.

The consensus EPS estimate sits at -$0.11, while analysts expect revenue of $217.3M. Over the past three months, revenue estimates have seen three upward and three downward revisions, reflecting genuine uncertainty heading in.

Last quarter, the company beat EPS by $0.01, coming in at -$0.12 versus the -$0.13 estimate. Despite the beat, the stock dropped 1.17% the following day.

That pattern isn’t new. In Q2 2025, PLUG missed EPS by $0.04 and the stock fell 2.53%. Q1 2025 saw a drop of over 10% after earnings. The market hasn’t been rewarding Plug Power for effort lately.

The stock was trading at $1.91 as of February 26. It’s down more than 7% year-to-date, even as the broader market has stayed roughly flat.

Over the past 52 weeks, though, PLUG is up 22.33% — so longer-term holders have some cushion.

New CEO Takes the Wheel

This Q4 print will be the first under incoming CEO Jose Crespo, who officially takes the role on March 1 — one day before earnings drop. That timing makes his first public appearance as chief executive essentially an earnings call.

Investors will be watching closely for any strategic direction or major announcements from Crespo.

The CFO has previously pointed to the second half of 2026 as the focus period for improved performance, citing sales cadence, volume growth, and cost reductions. On EBITDA profitability, the CFO called it “definitely in the art of the possible to go sooner.”

The company also flagged legacy issues it says have weighed on performance — without specifying exactly what those are.

What the Numbers Say

On the financial health side, the picture is still challenging. Plug Power carries a net margin of -204.38%, an ROE of -23.36%, and an ROA of -11.21%. All are below industry averages.

One relative bright spot: a debt-to-equity ratio of 0.7, which is below the industry average. The company is not heavily leveraged, which gives it some financial flexibility.

Revenue growth came in at 1.91% for the three months ending September 30, 2025. That’s positive, but below the average for peers in the Industrials sector.

The company’s electrolyzer business has been highlighted as a growth area, with management saying they expect expansion there in the coming year.

For FY25, PLUG has been targeting $700M in total revenue.

Both Seeking Alpha’s quant model and Wall Street analysts currently rate the stock as Hold.

The Q4 earnings call on March 2 will be the first real test of how Crespo intends to address the company’s challenges.

The post Plug Power (PLUG) Stock: What to Expect from Earnings on Monday appeared first on CoinCentral.