Plug Power Falls After Saying FY Revenue Could Come in 5-10% Lower

By Senad Karaahmetovic 

Shares of Plug Power (NASDAQ:) are down about 3% today after the company warned its revenue could come in 5-10% below the guidance due to project delays.

Plug Power previously guided for $900 million to $925 million for 2022 revenue.

“The revenue impact reflects some larger projects potentially being completed in 2023 instead of 2022 due to timing and broader supply chain issues,” the company said.

Still, the demand and pipeline “remain robust.”

It is important to note that the company expects the completion of the projects no later than 2023.

PLUG shares are down almost 35% YTD.

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