Earnings live updates: Plug Power stock jumps on improving margins, raised revenue guidance

August 10, 2026 - 19:21

The second quarter earnings season is starting to wrap up, with close to 90% of S&P 500 companies having already posted their numbers. But the news flow is still moving markets, and one of the biggest movers on Thursday was Plug Power.

Shares of the hydrogen fuel cell company jumped sharply in morning trading after management reported better-than-expected gross margins and lifted its full-year revenue guidance. The company said it now expects revenue in a range that tops its previous forecast, citing stronger demand for its electrolyzers and fuel cell products, along with improved cost controls.

Plug Power has been under pressure for years as investors worried about cash burn and the slow pace of the hydrogen economy. But the latest report suggests the company is making real progress on the operational side. Gross margins, while still negative, improved significantly compared to the same period last year. That is a key metric for a company that has struggled to show a path to profitability.

The stock had been down more than 40% over the past twelve months, so the positive surprise brought some relief to shareholders. Trading volume was well above average as buyers stepped in.

The company also reaffirmed its commitment to hitting positive gross margins by the end of the year, a target that some analysts had doubted. Management pointed to lower component costs and better plant utilization as the main drivers.

While the broader market was mixed, with tech stocks pulling back, Plug Power's move stood out as a bright spot in the energy sector. Investors will now watch to see if the company can sustain this momentum into the second half of the year.