Why Plug Power Shares Are Trading Higher After Q2 Results

Hydrogen fuel cell company Plug Power (NASDAQ: PLUG ) reported second-quarter financial results Monday after market close. Here are the key highlights. • Plug Power shares are powering higher. Why is PLUG stock up today? Plug Power Q2 Earnings Plug Power reported second-quarter revenue of $178.30 million, up 9% quarter-over-quarter. The revenue total beat a Street consensus estimate of $169.41 million, according to data Pro. The company reported an adjusted loss of seven cents per share, beating a Street estimate of a loss of eight cents per share. Gross margins were breakeven compared to negative 31% in last year’s second quarter and negative 13% in the first quarter. “Our second quarter results demonstrate that Plug is executing its transformation into a stronger, more efficient and profitable company,” Plug CEO Jose Luis Crespo said. The CEO said the company improved gr...