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What to Note Ahead of Plug Power's Q3 Earnings Release?
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Key Takeaways
Plug Power is set to report Q3 2026 results, with revenues expected to rise 10.4%.
Higher fuel prices, sales volumes and PPA pricing are expected to support revenue growth.
Rising costs, growth investments and foreign currency headwinds may pressure margins and profits.
Plug Power Inc. (PLUG - Free Report) is scheduled to release third-quarter 2026 results on Nov. 9, after market close.
The company has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 17.8%.
The Zacks Consensus Estimate for the company’s third-quarter revenues is pegged at $195.4 million, indicating an increase of 10.4% from the year-ago quarter’s figure. The consensus estimate for adjusted earnings is pinned at a loss of seven cents per share compared with a loss of 12 cents per share in the year-ago quarter.
Let’s see how things have shaped up for Plug Power this earnings season.
Factors to Note Ahead of PLUG’s Q3 Results
Revenues from services performed on fuel cell systems and related infrastructure are expected to have grown, driven by an increase in orders for alterations and upgrades for commissioned infrastructure and an increase in pricing. The Zacks Consensus Estimate for services performed on fuel cell systems and related infrastructure net revenues is pegged at $9.34 million.
An increase in the average selling price of fuel and an increase in the volume of fuel kilograms sold are expected to have aided revenues from fuel delivered to customers and related equipment in the third quarter. The Zacks Consensus Estimate for fuel delivered to customers and related equipment net revenues is pegged at $36.85 million, implying a 2.8% increase from the year-ago number.
Revenues from Power Purchase Agreements (PPAs) are expected to have been buoyed by an increase in pricing of the PPAs. The Zacks Consensus Estimate for net revenues from the same is $27.35 million, indicating an increase of 11.2% from the prior-year quarter.
However, a decline in revenues related to cryogenic equipment and liquefiers is expected to have adversely impacted the sales of equipment, related infrastructure and others. The Zacks Consensus Estimate for net revenues from the sale of equipment, related infrastructure and others is pegged at $64 million, decreasing 5.2% from the prior-year quarter.
Rising costs and operating expenses have been concerns for Plug Power for some time now. The impacts of high labor and raw material costs are likely to have affected its margin and profitability. Also, investments associated with product development and growth initiatives are expected to have hurt the company’s performance.
Given the company’s substantial international operations, foreign currency headwinds are likely to have marred its margins and profitability.
Plug Power, Inc. Price, Consensus and EPS Surprise
Our proven model does not conclusively predict an earnings beat for PLUG this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: PLUG has an Earnings ESP of -6.06%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
In the third quarter of 2026, Graco Inc. (GGG - Free Report) came out with quarterly earnings of $0.81 per share, missing the Zacks Consensus Estimate of $0.82 per share. This compares with earnings of $0.73 per share a year ago.
Graco reported revenues of $586.39 million in the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.58%. This compares with year-ago revenues of $543.36 million.
Dover Corporation (DOV - Free Report) has reported third-quarter 2026 adjusted earnings of $2.88 per share, rising 10% year over year and beating the Zacks Consensus Estimate of $2.83 by 1.77%. The improvement reflected broad-based demand, higher revenues and operational execution.
Revenues increased 7.5% year over year to $2.23 billion, beating the Zacks Consensus Estimate of $2.20 billion by 1.47%. Organic revenues grew 7.1%. Our model expected organic revenues to rise 4%.
Allegion plc (ALLE - Free Report) reported third-quarter 2026 adjusted earnings of $2.60 per share, up 13% year over year. The figure beat the Zacks Consensus Estimate of $2.49 by 4.4%, supported by strong organic growth and margin expansion.
Revenues increased 9.6% year over year to $1.17 billion, beating the Zacks Consensus Estimate of $1.13 billion by 3.4%. Organic revenues grew 7.2%, driven by strength in the Americas non-residential business, volume growth and price realization.
View the Zacks #1 Rank List
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What to Note Ahead of Plug Power's Q3 Earnings Release?
Key Takeaways
Plug Power Inc. (PLUG - Free Report) is scheduled to release third-quarter 2026 results on Nov. 9, after market close.
The company has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 17.8%.
The Zacks Consensus Estimate for the company’s third-quarter revenues is pegged at $195.4 million, indicating an increase of 10.4% from the year-ago quarter’s figure. The consensus estimate for adjusted earnings is pinned at a loss of seven cents per share compared with a loss of 12 cents per share in the year-ago quarter.
Let’s see how things have shaped up for Plug Power this earnings season.
Factors to Note Ahead of PLUG’s Q3 Results
Revenues from services performed on fuel cell systems and related infrastructure are expected to have grown, driven by an increase in orders for alterations and upgrades for commissioned infrastructure and an increase in pricing. The Zacks Consensus Estimate for services performed on fuel cell systems and related infrastructure net revenues is pegged at $9.34 million.
An increase in the average selling price of fuel and an increase in the volume of fuel kilograms sold are expected to have aided revenues from fuel delivered to customers and related equipment in the third quarter. The Zacks Consensus Estimate for fuel delivered to customers and related equipment net revenues is pegged at $36.85 million, implying a 2.8% increase from the year-ago number.
Revenues from Power Purchase Agreements (PPAs) are expected to have been buoyed by an increase in pricing of the PPAs. The Zacks Consensus Estimate for net revenues from the same is $27.35 million, indicating an increase of 11.2% from the prior-year quarter.
However, a decline in revenues related to cryogenic equipment and liquefiers is expected to have adversely impacted the sales of equipment, related infrastructure and others. The Zacks Consensus Estimate for net revenues from the sale of equipment, related infrastructure and others is pegged at $64 million, decreasing 5.2% from the prior-year quarter.
Rising costs and operating expenses have been concerns for Plug Power for some time now. The impacts of high labor and raw material costs are likely to have affected its margin and profitability. Also, investments associated with product development and growth initiatives are expected to have hurt the company’s performance.
Given the company’s substantial international operations, foreign currency headwinds are likely to have marred its margins and profitability.
Plug Power, Inc. Price, Consensus and EPS Surprise
Plug Power, Inc. price-consensus-eps-surprise-chart | Plug Power, Inc. Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for PLUG this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: PLUG has an Earnings ESP of -6.06%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: PLUG presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance of Some Companies
In the third quarter of 2026, Graco Inc. (GGG - Free Report) came out with quarterly earnings of $0.81 per share, missing the Zacks Consensus Estimate of $0.82 per share. This compares with earnings of $0.73 per share a year ago.
Graco reported revenues of $586.39 million in the quarter ended September 2026, missing the Zacks Consensus Estimate by 0.58%. This compares with year-ago revenues of $543.36 million.
Dover Corporation (DOV - Free Report) has reported third-quarter 2026 adjusted earnings of $2.88 per share, rising 10% year over year and beating the Zacks Consensus Estimate of $2.83 by 1.77%. The improvement reflected broad-based demand, higher revenues and operational execution.
Revenues increased 7.5% year over year to $2.23 billion, beating the Zacks Consensus Estimate of $2.20 billion by 1.47%. Organic revenues grew 7.1%. Our model expected organic revenues to rise 4%.
Allegion plc (ALLE - Free Report) reported third-quarter 2026 adjusted earnings of $2.60 per share, up 13% year over year. The figure beat the Zacks Consensus Estimate of $2.49 by 4.4%, supported by strong organic growth and margin expansion.
Revenues increased 9.6% year over year to $1.17 billion, beating the Zacks Consensus Estimate of $1.13 billion by 3.4%. Organic revenues grew 7.2%, driven by strength in the Americas non-residential business, volume growth and price realization.