Plug Power Holds Its 2026 Guidance as Gross Margin Creeps Toward Zero
Published on 11/12/2026 at 15:51 | Editorial boerse-global.de
Plug Power reported roughly $201 million in quarterly revenue on Monday, a gain of about 13% year over year, and left its full-year outlook untouched. The hydrogen and fuel-cell specialist still expects 2026 sales to rise 15%–16% — a target its own quarterly report flags as demanding materially stronger growth in the closing three months of the year.
The bottom line looked positive on paper: GAAP earnings per share came in at about $0.07. That figure leans heavily on non-cash valuation gains of roughly $192 million, which the company cited as the main driver of the result.
Gross Margin Still Under Water
Profitability at the gross level remains negative, though far less so than a year ago. The gross margin for the third quarter of 2026 stood at about minus 3%, compared with roughly minus 68% in the same period last year. Plug Power also reaffirmed its goal of posting positive EBITDAS in the fourth quarter of 2026.
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Cash consumption offered the clearest sign of operational improvement. Net cash burn fell to approximately $28 million in the third quarter, down about 54% from the prior quarter, when the company used around $61 million.
Two Analysts, Two Lower Targets
Sell-side reaction was muted. Craig-Hallum cut its price target on Tuesday to $3.00 from $5.00 while keeping a Buy rating, pointing to uncertainty over when large electrolyzer projects will convert into firm orders. Susquehanna trimmed its own target to $1.50 from $1.75 a day earlier, following the quarterly numbers, and stayed at Neutral. Neither firm changed its recommendation.
Shares slipped 3.4% in the session.
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Plug Power Stock: New Analysis - 12 November
Fresh Plug Power information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
