Plug Power (PLUG) rises after Q1 revenue beats estimates despite wider adjusted loss

Plug Power (PLUG) reported first-quarter 2026 revenue of $163.5 million, up 22.3% from a year earlier and above Wall Street expectations, sending shares to $3.77 from $3.52 before the earnings release. The fuel-cell company posted a non-GAAP loss of $0.18 per share, missing analyst consensus estimates by 74.2%. Management cited growth in material handling, electrolyzers and hydrogen fuel, along with cost reductions and service reliability improvements that supported margin progress. Executives said they remain focused on reaching positive EBITDA by year-end, supported by margin expansion, tighter cash management and improved plant utilization. Plug Power cited demand from customers including Amazon and Walmart, as well as project opportunities in Europe and Asia. The company is also pursuing large-scale applications in aviation and synthetic fuels.