Plug Power Q2 adjusted EPS loss narrows, lifts 2026 outlook

Plug Power

10/08/2026 21:13

Overview
Hydrogen solutions provider's Q2 revenue rose 9% sequentially, gross margin improved to near breakeven
Adjusted Q2 EPS loss narrowed year over year to ($0.07) from ($0.18)
Company raised 2026 revenue growth guidance to 15%-16%

Outlook
Plug Power raises full-year 2026 revenue growth guidance to 15%-16%
Company targets positive EBITDAS in Q4 2026
Plug Power aims to strengthen liquidity via asset monetization initiatives

Result Drivers
MATERIAL HANDLING GROWTH - Co said strong commercial momentum in material handling, including a 125% year-over-year increase in GenDrive fuel cell unit deployments, supported revenue growth and recurring revenue
MARGIN IMPROVEMENT - Gross margin improved to near breakeven from negative levels in prior periods, which the co attributed to improved plant utilization, production efficiency, and hydrogen network optimization
COST DISCIPLINE - Operating expenses declined about 50% year over year, which the co attributed to cost discipline and focus on asset monetization

Company press release: ID:nGNX8BRNfp

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Loss
 
$190.10 mln
 
Q2 Income from operations
 
-$64.11 mln
 
Q2 Pretax Loss
 
$189.9 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 13 "hold" and 3 "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 $3.50, about 60.6% above its August 7 closing price of $2.18

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Aug 10 - CECO Environmental Q2 revenue slightly beats on increase in orders, backlog

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(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.)