Shares of Plug Power (PLUG +5.21%) rose on Tuesday after the hydrogen fuel cell maker lifted its full-year growth targets.
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Progress toward profitability
Plug’s revenue grew 2% year over year to $178 million in the second quarter.
The green hydrogen infrastructure developer’s service revenue surged 82% to $30 million, fueled by a growing installed base that’s driving higher aftermarket sales.
Plug deployed 1,666 of its GenDrive fuel cell units during the quarter, a 125% jump from the prior-year period.
Plug’s fuel revenue also climbed 15% to $39 million, driven by increased hydrogen consumption by its customers.
Today’s Change
(5.21%) $0.11
Current Price
$2.22
Key Data Points
Market Cap
Day’s Range
$2.16 – $2.54
52wk Range
$1.41 – $4.58
Volume
147.1M
Avg Vol
65.8M
Gross Margin
-2565.51%
Moreover, Plug’s cost-cutting initiatives are boosting its margins. Gross margin improved to breakeven compared to negative 31% in the year-ago quarter, driven in part by better plant utilization and production efficiency gains.
All told, Plug’s adjusted net loss per share narrowed to $0.07 from $0.18 in Q2 2025.
Raised guidance
Plug now sees its full-year revenue rising by 15%-16% in 2026. The company also remains on track to generate positive earnings before interest, taxes, depreciation, and amortization (EBITDA) in the fourth quarter.
“Our second quarter results demonstrate that Plug is executing its transformation into a stronger, more efficient, and profitable company,” CEO Jose Luis Crespo said.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
