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Plug Power Earnings Calls
| Release date | May 11, 2026 |
| EPS estimate | -$0.0900 |
| EPS actual | -$0.0800 |
| EPS Surprise | 11.11% |
| Revenue estimate | 139.869M |
| Revenue actual | 163.513M |
| Revenue Surprise | 16.90% |
| Release date | Mar 02, 2026 |
| EPS estimate | -$0.100 |
| EPS actual | -$0.0600 |
| EPS Surprise | 40.00% |
| Revenue estimate | 217.376M |
| Revenue actual | 225.2M |
| Revenue Surprise | 3.60% |
| Release date | Nov 10, 2025 |
| EPS estimate | -$0.130 |
| EPS actual | -$0.120 |
| EPS Surprise | 7.69% |
| Revenue estimate | 217.38M |
| Revenue actual | 177.055M |
| Revenue Surprise | -18.55% |
| Release date | Aug 11, 2025 |
| EPS estimate | -$0.150 |
| EPS actual | -$0.160 |
| EPS Surprise | -6.67% |
| Revenue estimate | 200.951M |
| Revenue actual | 173.97M |
| Revenue Surprise | -13.43% |
Last 4 Quarters for Plug Power
Below you can see how PLUG performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Aug 11, 2025 |
| Price on release | $1.58 |
| EPS estimate | -$0.150 |
| EPS actual | -$0.160 |
| EPS surprise | -6.67% |
| Date | Price |
|---|---|
| Aug 05, 2025 | $1.54 |
| Aug 06, 2025 | $1.46 |
| Aug 07, 2025 | $1.51 |
| Aug 08, 2025 | $1.51 |
| Aug 11, 2025 | $1.58 |
| Aug 12, 2025 | $1.54 |
| Aug 13, 2025 | $1.66 |
| Aug 14, 2025 | $1.65 |
| Aug 15, 2025 | $1.70 |
| 4 days before | 2.60% |
| 4 days after | 7.59% |
| On release day | -2.53% |
| Change in period | 10.39% |
| Release date | Nov 10, 2025 |
| Price on release | $2.56 |
| EPS estimate | -$0.130 |
| EPS actual | -$0.120 |
| EPS surprise | 7.69% |
| Date | Price |
|---|---|
| Nov 04, 2025 | $2.52 |
| Nov 05, 2025 | $2.64 |
| Nov 06, 2025 | $2.51 |
| Nov 07, 2025 | $2.65 |
| Nov 10, 2025 | $2.56 |
| Nov 11, 2025 | $2.53 |
| Nov 12, 2025 | $2.74 |
| Nov 13, 2025 | $2.49 |
| Nov 14, 2025 | $2.25 |
| 4 days before | 1.59% |
| 4 days after | -12.30% |
| On release day | -1.17% |
| Change in period | -10.91% |
| Release date | Mar 02, 2026 |
| Price on release | $1.81 |
| EPS estimate | -$0.100 |
| EPS actual | -$0.0600 |
| EPS surprise | 40.00% |
| Date | Price |
|---|---|
| Feb 24, 2026 | $1.91 |
| Feb 25, 2026 | $1.91 |
| Feb 26, 2026 | $1.91 |
| Feb 27, 2026 | $1.80 |
| Mar 02, 2026 | $1.81 |
| Mar 03, 2026 | $2.23 |
| Mar 04, 2026 | $2.48 |
| Mar 05, 2026 | $2.29 |
| Mar 06, 2026 | $2.13 |
| 4 days before | -5.24% |
| 4 days after | 17.68% |
| On release day | 23.20% |
| Change in period | 11.52% |
| Release date | May 11, 2026 |
| Price on release | $3.52 |
| EPS estimate | -$0.0900 |
| EPS actual | -$0.0800 |
| EPS surprise | 11.11% |
| Date | Price |
|---|---|
| May 05, 2026 | $3.32 |
| May 06, 2026 | $3.31 |
| May 07, 2026 | $3.13 |
| May 08, 2026 | $3.12 |
| May 11, 2026 | $3.52 |
| May 12, 2026 | $3.56 |
| May 13, 2026 | $3.96 |
| May 14, 2026 | $3.79 |
| May 15, 2026 | $3.78 |
| 4 days before | 6.02% |
| 4 days after | 7.39% |
| On release day | 1.14% |
| Change in period | 13.86% |
Plug Power Earnings Call Transcript Summary of Q1 2026
Plug Power reported Q1 2026 revenue of $163.5M, up 22% YoY, with growth across its three strategic areas: material handling, electrolyzers and hydrogen fuel. Gross margin improved materially (from -55% to -13%), a 42 percentage-point improvement, driven by cost actions under Project Quantum Leap, volume/mix, service cost reductions (GenDrive service costs down >30% YoY) and better fuel margins. Electrolyzer revenue surged (from $9.2M to $40.8M) as several large projects advanced into commissioning and delivery, including major PEM projects in Spain and Portugal and a 275 MW front-end award in Canada; the electrolyzer opportunity funnel is roughly $8B. Material handling demand remains strong—accelerated by reinstated investment tax credits and the value of reduced grid demand—supporting continued deployments and multi-year fleet refreshes (notably with Amazon and Walmart). Fuel sales grew ~20% YoY with substantial margin improvement due to plant performance, network optimization and a third-party gas sourcing agreement. Liquidity: $802M total cash ($223M unrestricted, $579M restricted); multiple asset monetization initiatives targeted to add proceeds (~$275M expected from hydrogen project monetizations, plus a ~$39M Louisiana tax credit sale). Management reiterated targets: positive EBITDAS run-rate in Q4 2026, positive operating income in 2027 and full profitability in 2028. Guidance context: full-year revenue growth target 13–15% (first half weighted ~40%), OpEx run-rate targeted ~ $75M/quarter, and expected inventory reduction of at least $100M in 2026.
