Key Takeaways
- Q4 2025 earnings from Plug Power (PLUG) are scheduled for March 2, following market close
- Wall Street consensus projects -$0.11 earnings per share alongside $217.3M in quarterly revenue
- Jose Crespo begins his tenure as CEO on March 1, making this his inaugural earnings presentation
- Shares have declined over 7% since January 1, while analyst ratings hover at Hold from Seeking Alpha and Wall Street
- Management maintains its $700M full-year revenue objective for FY25, with EBITDA profitability called “in the art of the possible”
Meta Description: Plug Power (PLUG) unveils Q4 2025 results March 2 featuring new CEO leadership, -$0.11 EPS consensus, and $217.3M revenue projections.
The hydrogen fuel cell developer Plug Power is scheduled to unveil its fourth-quarter 2025 financial results Monday, March 2, following the market’s close. This particular earnings event carries additional significance for multiple reasons.
Wall Street analysts have established a consensus earnings per share projection of -$0.11, with quarterly revenue anticipated to reach $217.3M. Analyst estimates have experienced mixed revisions during the past three months—three increases and three decreases—signaling notable uncertainty around the company’s performance.
During the previous quarter’s report, the hydrogen specialist exceeded EPS projections by a penny, posting -$0.12 against expectations of -$0.13. However, this earnings beat failed to impress investors, as shares declined 1.17% in the subsequent trading session.
This response reflects an established trend. The Q2 2025 report saw Plug Power miss EPS forecasts by $0.04, triggering a 2.53% stock decline. Following Q1 2025 earnings, shares plummeted over 10%. The market has consistently demonstrated skepticism toward the company’s performance regardless of results.
As of February 26, PLUG stock was changing hands at $1.91 per share. The year-to-date performance shows a decline exceeding 7%, contrasting with relatively stable broader market indices.
Looking at the trailing twelve months, however, PLUG has gained 22.33%—providing some relief for shareholders who entered positions earlier.
Leadership Transition Coincides with Earnings Release
This fourth-quarter report marks a significant milestone as it arrives alongside a CEO transition. Jose Crespo officially assumes the chief executive position on March 1—precisely one day before the earnings announcement. This timing means Crespo’s debut as the company’s leader will essentially occur during the earnings conference call.
Market participants will scrutinize Crespo’s commentary for indications of strategic shifts or significant policy changes.
The company’s CFO has previously identified the latter half of 2026 as a critical timeframe for performance improvement, emphasizing sales momentum, volume expansion, and expense management. Regarding EBITDA profitability, the CFO described it as “definitely in the art of the possible to go sooner.”
Management has also acknowledged certain legacy challenges that have impacted results—though specific details about these issues remain undisclosed.
Financial Metrics Paint a Complex Picture
The company’s financial health indicators present ongoing concerns. Current metrics show a net margin of -204.38%, return on equity of -23.36%, and return on assets of -11.21%. Each of these measurements falls short of industry benchmarks.
A noteworthy positive element: the debt-to-equity ratio stands at 0.7, which compares favorably to industry standards. This relatively conservative leverage position provides the company with additional financial maneuverability.
For the three-month period concluded September 30, 2025, revenue expansion reached 1.91%. While representing growth, this figure trails the typical performance within the Industrials sector.
The electrolyzer segment has emerged as a potential catalyst, with executives indicating expectations for expansion in this division throughout the upcoming year.
Plug Power has maintained its full-year FY25 revenue target of $700M.
Both the Seeking Alpha quantitative rating system and Wall Street analysts have assigned Hold ratings to the stock.
The March 2 earnings presentation will provide the initial indication of Crespo’s approach to navigating the company’s operational and financial obstacles.
