PLUG shares rise as hydrogen firm narrows losses and raises 2026 revenue growth guidance to 15%-16%.
Plug Power reported second-quarter revenue of $178.3 million, topping estimates by nearly $10 million and marking a 2.5% year-over-year increase. The company posted an adjusted loss of $0.07 per share, beating Wall Street’s forecast of $0.08 and improving from a $0.18 loss a year earlier.
Hydrogen fuel sales surged 15%, driven by rising demand from an expanding customer base. Gross margin neared breakeven, a sharp improvement from prior periods. The company also raised its 2026 revenue growth guidance to 15%-16%, up from 13%-15%.
Shares jumped following the announcement, trimming a five-year decline as investors welcomed progress toward profitability.