Plug Power (PLUG) Stock: Surges on 125% GenDrive Growth and Stronger Hydrogen Sales
TLDR
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Plug Power stock rises as GenDrive deployments surge 125% year over year in Q2.
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Hydrogen fuel revenue climbs 15% as Plug Power improves production efficiency.
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Plug Power cuts operating expenses by about 50% while gross margin improves.
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Quarterly revenue reaches $178 million as commercial hydrogen activity expands.
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Plug Power raises 2026 revenue growth guidance to 15%–16% after stronger Q2.
Plug Power (PLUG) shares posted stronger second-quarter results as higher deployments, hydrogen sales, and lower costs improved operating performance. PLUG traded at $2.21, up 4.73%, after earlier gains faded during a sharp mid-morning pullback. The company also raised its full-year 2026 revenue growth outlook after stronger commercial execution.
Plug Power Stock Gains as GenDrive Deployments Jump 125%
Plug Power deployed 1,666 GenDrive fuel cell units during the quarter, up 125% from 739 units last year. The increase expanded its material handling base and strengthened recurring service and hydrogen revenue opportunities. Two major customers plan to refresh more than 20,000 GenDrive units during the next three years.
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