Plug, leading provider of turnkey hydrogen solutions, provides 2022 revenue expectations update reflecting potential timing and supply chain impact.
Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, provides revenue expectations update for 2022. The company believes that its prior full year 2022 revenue guidance of $900-$925M could be 5% -10% lower for the year.
The revenue impact reflects some larger projects potentially being completed in 2023 instead of 2022 due to timing and broader supply chain issues. While revenue could be lower than previously anticipated in 2022, demand for the fuel cell applications and electrolyzer business remains robust.
The Company recently became aware of the potential impact to its full year 2022 revenue and believes it is prudent to update…