Plug Power Posts Double-Digit 1Q Revenue Growth

Dow Jones

May 12

By Christopher Kuo

Plug Power posted double-digit revenue growth driven by expansion in its material handling and electrolyzer businesses.

The hydrogen solutions company on Monday posted a first-quarter loss of $245.3 million, or 18 cents a share, compared with a loss of $196.7 million, or 21 cents a share, a year earlier.

Adjusted earnings came in at a loss of 8 cents a share. Analysts polled by FactSet expected a loss of 11 cents a share.

Revenue rose 22% to $163.5 million, driven by growth in its material handling and electrolyzer businesses. Analysts expected $139.9 million.

In its material handling business, per-unit quarterly service costs for GenDrive Fuel Cells were down 30% year over year, the company said.

Write to Christopher Kuo at chris.kuo@wsj.com

(END) Dow Jones Newswires

May 11, 2026 16:17 ET (20:17 GMT)

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Analysts polled by FactSet expected a loss of 11 cents a share. \n\n\n  Revenue rose 22% to $163.5 million, driven by growth in its material handling and electrolyzer businesses. Analysts expected $139.9 million. \n\n\n  In its material handling business, per-unit quarterly service costs for GenDrive Fuel Cells were down 30% year over year, the company said. \n\n\n \n\n\n  Write to Christopher Kuo at chris.kuo@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 11, 2026 16:17 ET (20:17 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}