Hydrogen fuel cell maker Plug Power misses Q3 revenue estimates

Plug Power

10/11/2025 21:11

Overview

Plug Power Q3 revenue was $177 mln, missing analyst expectations

Adjusted EPS for Q3 improved to a loss of $0.12 per share

Company completed $370 mln capital raise, reflecting investor confidence

Outlook

Plug Power aims for EBITDAS-positive results in the second half of 2026

Result Drivers

ELECTROLYZER GROWTH - GenEco electrolyzer revenue increased 46% sequentially, contributing significantly to Q3 revenue

PRICING ENHANCEMENTS - Continued pricing improvements helped drive revenue and reduce operational cash burn

PROJECT QUANTUM LEAP - Strategic initiatives improved margin and cash flow, despite $226 mln in related charges

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$177.06 mln
$179.54 mln (20 Analysts)
Q3 Net Income
-$363.51 mln
Q3 Income from operations
-$348.79 mln
Q3 Pretax Profit
-$363.41 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 14 "hold" and 5 "sell" or "strong sell"

The average consensus recommendation for the renewable energy equipment & services peer group is "buy."

Wall Street's median 12-month price target for Plug Power Inc is $3.00, about 11.7% above its November 7 closing price of $2.65

Press Release: ID:nGNX1RKdwh

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)