Plug Power (NASDAQ:PLUG) Posts Earnings Results, Beats Estimates By $0.01 EPS

Plug Power (NASDAQ:PLUG) posted its quarterly earnings results on Monday. The electronics maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, FiscalAI reports. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $169.11 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.

Here are the key takeaways from Plug Power’s conference call:

• Revenue guidance was raised to 15%–16% growth for 2026, from 13%–15%, following first-half revenue of $342 million, up 11% year over year.
• Gross margin improved to approximately breakeven from negative 30.7% a year ago, while operating expenses fell 50% year over year and quarterly net cash usage declined 58% sequentially to $61 million.
• Material handling showed strong momentum, with GenDrive deployments more than doubling year over year and service revenue rising 82%; two major customers are expected to refresh more than 20,000 units over the next three years.
• Electrolyzer demand is advancing through new project milestones, including FIDs for Carlton Power and Orica, while European hydrogen regulations and subsidy programs could support a multi-year growth opportunity.
• Plug remains dependent on substantial second-half equipment volume to achieve its goal of positive EBITDA in the fourth quarter; fuel gross margin was still negative 48%, and the reported OpEx improvement included a $39.7 million recovery, largely from a settled contract dispute.

Plug Power Price Performance

NASDAQ:PLUG traded down $0.07 during trading hours on Monday, hitting $2.11. 124,539,859 shares of the company’s stock traded hands, compared to its average volume of 77,920,945. Plug Power has a 52 week low of $1.41 and a 52 week high of $4.58. The business’s fifty day simple moving average is $2.56 and its two-hundred day simple moving average is $2.60. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The firm has a market cap of $2.94 billion, a P/E ratio of -1.60 and a beta of 2.20.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLUG. Wells Fargo & Company increased their price objective on Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Morgan Stanley upped their price target on Plug Power from $1.50 to $1.65 and gave the company an “underweight” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, BMO Capital Markets raised their price objective on shares of Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.30.

Hedge Funds Weigh In On Plug Power

A number of institutional investors have recently made changes to their positions in the stock. Sender Co & Partners Inc. bought a new position in shares of Plug Power during the 2nd quarter valued at about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Plug Power by 116.7% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 7,000 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Plug Power in the 3rd quarter valued at about $32,000. Focus Partners Wealth purchased a new stake in Plug Power during the 1st quarter valued at about $37,000. Finally, NewEdge Advisors LLC boosted its holdings in Plug Power by 404.6% during the 2nd quarter. NewEdge Advisors LLC now owns 29,369 shares of the electronics maker’s stock valued at $44,000 after acquiring an additional 23,549 shares during the period. Institutional investors own 43.48% of the company’s stock.

Key Stories Impacting Plug Power

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug Power reported second-quarter revenue of $178.3 million, exceeding the $169.1 million analyst consensus. Its adjusted loss of $0.07 per share was also slightly better than the expected $0.08 loss, offering a modest earnings beat. Plug Power earnings press release
• Positive Sentiment: The company projected fiscal 2026 revenue of approximately $816.4 million to $823.5 million, above the $813.8 million consensus estimate. The better-than-expected revenue outlook may support investor confidence in demand and growth.
• Neutral Sentiment: Trading activity was elevated ahead of the earnings report, with options traders positioning for a potentially large move. This contributed to heightened volatility rather than signaling a clear long-term direction. Plug Power stock climbs before earnings
• Neutral Sentiment: Brokerages maintain an average “Hold” rating, suggesting analysts see a balance between Plug Power’s growth opportunity and its financial risks. Plug Power brokerage recommendation
• Negative Sentiment: Despite beating estimates, Plug Power remains deeply unprofitable, with a negative net margin of 227.13% and negative return on equity of 49.30%. The company continues to report losses, limiting the impact of the modest quarterly beat.
• Negative Sentiment: The stock had already fallen sharply in July, reflecting investor concerns about Plug Power’s cash needs, execution, and path to profitability. Those concerns remain relevant after the earnings announcement. Why Plug Power stock slumped in July

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.