Plug Power Reports $178 Million in Revenue and Raises Its 2026 Guidance. Here's What PLUG Investors Need to Know.
Plug Power stock jumped after beating earnings estimates.
Overview
Plug Power (NASDAQ:PLUG) — a popular hydrogen fuel stock — popped after announcing second-quarter earnings on Aug. 10. Investors and analysts alike were impressed by the company’s progress towards profitability. Revenue gains and cost efficiencies helped the company beat estimates for both sales and profits.
Plug Power posted an adjusted second-quarter loss of $0.07 per share. That beat Wall Street’s prediction of an $0.08 per share loss, while also handily outpacing last year’s result of an $0.18 per share loss.
Details
Narrowed losses were helped by a 15% spike in hydrogen fuel sales, which, in turn, was driven by rising demand among the company’s growing installed customer base. Sales overall ticked higher by 2.5% year-over-year to $178.3 million, beating consensus estimates by nearly $10 million.
Source
Originally published at www.fool.com.