Plug Power, Inc.: Beat — EPS $0.00, Revenue $200.6M
Earnings BeatQ3 2026 · After-market
Did Plug Power, Inc. (PLUG) beat earnings today?
Yes, Plug Power, Inc. (PLUG) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+100.00% surprise
$0.00Actual
Expected: -$0.06
vs. year ago +100.0%
Total Revenue+3.76% surprise
$200.6MActual
Expected: $193.33M
vs. year ago +13.3%
Released Nov 09 · 4:01 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $200.60M | $177.06M | +13.3 |
| Revenue detail — reported lines | |||
| └─Sales of equipment, related infrastructure and other | $105.74M | $96.77M | +9.3 |
| └─Services performed on fuel cell systems and related infrastructure | $29.01M | $19.74M | +47.0 |
| └─Power purchase agreements | $27.71M | $24.60M | +12.6 |
| └─Fuel delivered to customers and related equipment | $38.11M | $35.91M | +6.1 |
| └─Other | $30.00K | $24.00K | +25.0 |
| Net Income | $99.04M | ($363.50M) | - |
| GAAP Basic EPS | $0.07 | -$0.31 | - |
| GAAP Diluted EPS | -$0.00 | -$0.31 | - |
Financial Outlook / Guidance
| Metric | Q4 FY26 Outlook | FY26 Outlook |
|---|---|---|
| Guidance | Guidance | |
| EBITDAS | positive | — |
| Revenue Growth | — | 15%-16% |
Q4 FY26 Outlook
- EBITDAS
- Guidancepositive
- Revenue Growth
- Guidance—
FY26 Outlook
- EBITDAS
- Guidance—
- Revenue Growth
- Guidance15%-16%
Business Highlights
- ➤Deployed 1,136 GenDrive fuel cell units, more than doubling Q3 2025 deployments.
- ➤Advanced next-generation GenDrive solutions to improve efficiency, stack life, and reliability.
- ➤Signed a 280 MW GenEco electrolyzer supply agreement for Arcadia eFuels’ Project ENDOR.
- ➤Strategic Arcadia cooperation positions Plug for over 1 GW of potential e-SAF projects.
- ➤Secured a 50 MW GenEco electrolyzer order for Australia’s Hunter Valley Hydrogen Hub.
- ➤Shipped a 1 MW GenEco electrolyzer to HWR Hydrogen in New Zealand.
- ➤Continued commissioning for the 25 MW Iberdrola-bp project and 100 MW Galp project.
- ➤Plug has deployed electrolyzers on five continents.
- ➤Plug has deployed more than 76,000 fuel cell systems and 280+ fueling stations.
Management Commentary
Jose Luis Crespo, Chief Executive Officer
“Our third quarter results reflect continued progress toward a stronger, more profitable Plug. We grew revenue, improved margins, and significantly reduced cash usage through disciplined execution. Commercially, we advanced key customer projects, including our 280 MW Arcadia eFuels agreement and broader partnership covering more than 1 GW of potential projects. Our focus remains on improving operating leverage, delivering on customer commitments and building sustainable growth.”