Plug Power Inc. (NASDAQ:PLUG) posted its first-quarter results after Monday’s closing bell, beating analyst estimates on the top and bottom lines.
Here's a look at the details inside the report.
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Plug Power Q1 Details
Plug Power reported quarterly losses of eight cents per share, which beat the analyst consensus estimate for losses of nine cents, according to Benzinga Pro data.
Quarterly revenue clocked in at $163.51 million, which beat the Street estimate of $141.17 million and was up from $133.67 million in the same period last year.
Plug reported the following first-quarter highlights:
- Hydrogen fuel sales increased by 22% for the first quarter of 2026 in relation to the first quarter of 2025, driven by customer growth, increasing prices, and reduced customer warrant charges.
- Hydrogen fuel margin rate improved by 54 percentage points in the first quarter of 2026 versus the first quarter of 2025, stemming from greater leverage on Plug’s hydrogen network with higher volumes, reduced third-party sourcing costs, and efforts to improve network efficiency.
- Record service performance, with GenDrive per-unit quarterly service costs down over 30% year-over-year, contributing to margin improvement
“Our first quarter results reflect strong commercial execution and continued progress improving the underlying economics of the business and positions us to achieve our EBITDAS positive target in Q4 2026,” said Jose Luis Crespo, CEO of Plug.
“We exceeded internal expectations on revenue, delivered on our margin and EPS targets, and continue to strengthen our financial position. Our focus remains on execution and growth, driving efficiency, expanding margins, and converting our scale into consistent financial performance,” Crespo added.
PLUG Stock Price: According to data from Benzinga Pro, Plug stock was up slightly to $3.55 in Monday's extended trading after gaining nearly 13% in the regular session.
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