Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRyan Vanzo, The Motley FoolTue, August 11, 2026 at 5:16 PM GMT+2 4 min readPlug Power (NASDAQ:PLUG) — a popular hydrogen fuel stock — popped after announcing second-quarter earnings on Aug. 10. Investors and analysts alike were impressed by the company's progress towards profitability. Revenue gains and cost efficiencies helped the company beat estimates for both sales and profits.Plug Power posted an adjusted second-quarter loss of $0.07 per share. That beat Wall Street's prediction of an $0.08 per share loss, while also handily outpacing last year's result of an $0.18 per share loss.Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »Narrowed losses were helped by a 15% spike in hydrogen fuel sales, which, in turn, was driven by rising demand among the company's growing installed customer base. Sales overall ticked higher by 2.5% year-over-year to $178.3 million, beating consensus estimates by nearly $10 million.Analysts were particularly excited by the company's progress towards profitability, as well as boosted sales growth guidance."Plug Power … reported that gross margin neared breakeven territory, marking a hefty improvement from a year ago and the first quarter," observes Barron's. "But the big takeaway for Wall Street was Plug Power's decision to raise its 2026 revenue guidance growth expectation to 15% to 16%, up from the company's previous 13% to 15% growth view."Plug Power's stock is now nearly 40% higher since 2026. But over the past five years, shares remain more than 90% lower.Should Plug Power investors trust the positive earnings report? You might be surprised by the answer.The last few quarters have been impressive for Plug Power. Last October, the company announced a new CEO, Jose Luis Crespo, who officially took over this March. Crespo quickly announced several strategic priorities, chief among which was turning Plug Power profitable.Over the past decade, Plug Power has increased sales by more than 700%. Persistent losses, however, have forced it to dilute shareholders by issuing more stock. Total shares outstanding have also jumped by nearly 700% over the past decade, completely offsetting the company's revenue gains over that time. Persistent losses, therefore, have been the main drag on shareholder returns, not revenue growth.Image source: Getty ImagesTerms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info