Plug Power (PLUN) Earnings Dates, Call Summary & Reports

Q: What is the P/E ratio of Plug Power stock?

The P/E ratio of {name} is N/A.

Compare

63 Followers

Earnings Data

Report Date

May 13, 2026

TBA (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-0.08

Last Year’s EPS

-0.18

Same Quarter Last Year

Analyst Consensus

Hold

Based on 10 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 02, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed clear operational progress: double-digit top-line growth (13% in 2025), a dramatic 125 percentage‑point swing in Q4 gross margin (from -122.5% to +2.4%), record electrolyzer revenue ($188M), shipments of >300 MW, stronger cash posture ($368.5M unrestricted) and a roadmap to positive EBITDAS in Q4 2026. Those achievements were balanced against a material accounting hit (net $763M impairments), continued adjusted net losses, seasonal cash burn risk in H1 2026 and conversion/timing risks in the ~$8B project funnel. Overall, management framed 2025 as a structural turning point with disciplined execution and gave high confidence in near-term targets while acknowledging remaining execution and market risks.

Company Guidance

Plug guided that 2026 should deliver revenue growth directionally comparable to 2025’s ~13% increase, driven mainly by material handling (expected to represent ~30–40% of revenue) and electrolyzers, and reiterated targets to reach positive EBITDAS in Q4 2026 (part of a roadmap to positive operating income in 2027 and full profitability in 2028). Management pointed to a 125 percentage‑point gross‑margin improvement (from -122.5% in Q4 2024 to +2.4% in Q4 2025), Q4 GAAP EPS of -$0.63 (adjusted -$0.06) versus Q4 2024 GAAP -$1.48 (adjusted -$0.29), unit service costs now roughly half of levels a year ago, and expected continued benefit from Project Quantum Leap and other cost reductions. Liquidity guidance noted $368.5M of unrestricted cash at year‑end 2025, a one‑time net $763M of primarily non‑cash impairment and capital charges recorded in Q4, and an expected ~$275M of monetization proceeds to close in H1 2026 to support 2026 operations while continuing to reduce cash usage. Operational and commercial metrics cited to support the outlook include >300 MW of GenEco electrolyzers shipped across six continents, a record $188M of electrolyzer revenue in 2025, 750 MW of new basic engineering design package (BEDP) agreements executed in the past two months, an approximately $8B electrolyzer funnel (with projects including 25 MW and 100 MW awards), ~40 tons/day nominal H2 production capacity today, and management’s view that ~80% of 2026 revenue is high‑probability with seasonality skewed ~1/3 first half / 2/3 second half.

Revenue Growth in 2025

Plug Power reported approximately 13% revenue growth in 2025 versus prior year, driven primarily by material handling and electrolyzer businesses.

Dramatic Gross Margin Improvement

Gross margin improved by ~125 percentage points year-over-year in Q4 (from -122.5% in Q4 2024 to +2.4% in Q4 2025), turning gross margin positive in the quarter.

Earnings-Per-Share Progression

Q4 GAAP EPS improved to negative $0.63 (from negative $1.48 in Q4 2024). Adjusted EPS for Q4 2025 was negative $0.06 versus negative $0.29 in Q4 2024, illustrating operational progress.

Electrolyzer Business Momentum and Record Revenue

Plug has shipped over 300 MW of GenEco electrolysis globally and recorded a record $188 million in electrolyzer revenue in 2025, including delivery for large projects (25 MW with Iberdrola/BP and 100 MW with GALP).

New Engineering Agreements (Funnel Expansion)

The company executed 750 MW of new basic engineering design package (BEDP) agreements over the last two months, expanding near-term project activity and pipeline.

Improved Liquidity Position & Monetization Plan

Ended 2025 with $368.5 million in unrestricted cash. Management expects $275 million from planned asset monetizations (first of three transactions already executed) to close in H1 2026, supporting 2026 operations.

Operational Efficiency Gains

Project Quantum Leap and other cost actions drove significant efficiency: unit service costs are roughly half of where they were a year ago, three hydrogen plants (including newly commissioned Louisiana plant) were ramped, and CapEx was significantly curtailed for 2025 with expectations of even lower CapEx in 2026.

Debt Restructuring and Financial Targets

Debt restructuring yielded an effectively unleveraged balance sheet with a lower cost of capital (~7%), management targets positive EBITDAS in Q4 2026, operating income in 2027 and full profitability in 2028, and expresses ~80% confidence in the 2026 revenue outlook.

Plug Power (DE:PLUN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

DE:PLUN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2026	2026 (Q1)	-0.08 / -	-0.18	―	―	―
Mar 02, 2026	2025 (Q4)	-0.09 / -0.54	-1.266	57.43% (+0.73)	―
Nov 10, 2025	2025 (Q3)	-0.11 / -0.27	-0.214	-24.00% (-0.05)	―
Aug 11, 2025	2025 (Q2)	-0.13 / -0.17	-0.308	44.44% (+0.14)	―
May 12, 2025	2025 (Q1)	-0.16 / -0.18	-0.393	54.35% (+0.21)	―
Mar 03, 2025	2024 (Q4)	-0.20 / -1.27	-0.924	-37.04% (-0.34)	―
Nov 12, 2024	2024 (Q3)	-0.21 / -0.21	-0.402	46.81% (+0.19)	―
Aug 08, 2024	2024 (Q2)	-0.26 / -0.31	-0.342	10.00% (+0.03)	―
May 09, 2024	2024 (Q1)	-0.28 / -0.39	-0.299	-31.43% (-0.09)	―
Mar 01, 2024	2023 (Q4)	-0.31 / -0.92	-0.325	-184.21% (-0.60)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:PLUN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 02, 2026	€1.53	―	―
Nov 10, 2025	€2.15	€2.07	-4.04%
Aug 11, 2025	€1.35	€1.23	-8.54%
May 12, 2025	€0.79	€0.73	-7.20%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.