Plug Power Surges 12% After Q1 Beat, Sets Positive EBITDA Goal for Q4
Plug Power beat Q1 revenue and loss forecasts, narrowing its operating deficit while reaffirming growth targets and aiming for positive EBITDA by Q4. Shares surged over 12% on Monday, added 6% in after-hours trading and peaked 9% intraday on the earnings news.
1. Q1 Earnings Beat and Financial Metrics
Plug Power reported first-quarter results that exceeded analyst estimates, posting stronger revenue and a narrower operating loss compared with the year-ago period while maintaining its full-year growth outlook.
2. Positive EBITDA Target by Q4
Management announced a clear objective of achieving positive EBITDA in the fourth quarter, underpinned by cost-reduction measures and scaling its electrolyzer and green hydrogen production business segments.
3. Share Price Reaction
Investors responded enthusiastically, driving shares up more than 12% on Monday, extending gains by over 6% in after-hours trading and hitting an intraday high 9% above the previous close.