7d587403
2021-11-10
Omg
Why Plug Power Shares Are Falling
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Plug Power also reported quarterly sales of $143.92 million which missed the analyst consensus estimate of $143.93 million by less than 1%. This is a 35% increase over sales of $106.99 million the same period last year.</p>\n<p>Plug Power highlighted, as noted in the company's second quarter investor letter, that gross margin has remained under pressure driven by multiple factors including elevated fuel, service, and product costs. Product and service costs stem in part from the COVID-19 related impact to the global supply chain.</p>\n<p>Plug Power noted how COVID-19 related costs primarily stemmed from freight and material costs given the global impact on the transit industry, and higher labor costs given staffing and coverage issues. 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