> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Plug Power Stock Plunges 7% After Earnings Loss Exceeds Estimates And Margins Worsen - URL: https://www.bullished.co/plug-power-stock-plunges-7-after-earnings-loss-exceeds-estimates-and-margins-worsen-1a22291c/ - Published: 2026-11-10T16:17:45.000Z - Updated: 2026-11-10T16:17:45.000Z - Description: The hydrogen company's adjusted loss exceeded the Zacks estimate, while plant outages and scale-up costs hurt gross margin. - Author: Matteo Parrino - Tags: Markets, PLUG, Industry: Industrials [Plug Power](https://www.bullished.co/tag/plug/), which makes hydrogen fuel-cell systems and produces hydrogen fuel, plunged 7.33% to $1.39 in Tuesday trading, as of 11:16 AM ET, wiping out $154 million in market value. The drop followed Monday's [earnings release](https://www.sec.gov/Archives/edgar/data/0001093691/000110465926124487/tm2629363d1%5F8k.htm?ref=bullished.co), announced in an SEC filing, with an adjusted loss larger than estimated and a deterioration in gross margin. ## Loss Misses, Gross Margin Worsens Plug's third-quarter adjusted loss was [$0.12 per share](https://nz.finance.yahoo.com/news/plug-power-plug-reports-q3-213503979.html?ref=bullished.co), matching the year-earlier loss but exceeding the Zacks consensus estimate of a $0.07 loss. Gross margin moved further below zero, reaching [negative 2.7%](https://www.benzinga.com/trading-ideas/movers/26/11/63084265/why-is-plug-power-stock-trading-higher-today?ref=bullished.co) compared with negative 0.9% in the previous quarter. The company attributed the deterioration to costs of scaling up electrolyzers and unplanned outages at its hydrogen plants. ## A Slide Before The Results Tuesday's decline put Plug on pace for its second drop of 7% or more this month. Its total market value stood at $1.94 billion in Tuesday trading, as of 11:16 AM ET. The stock had already lost 11% over the previous month before Tuesday's session. Through Monday's close, Plug was down 24% year-to-date, against a 10% gain for the S&P 500; it also closed Monday 64% below its highest closing price of the past year. ## Walmart's Refresh And Hydrogen Operations Plug's fuel cells primarily power forklifts and other material-handling vehicles at manufacturing and distribution sites. It also sells stationary systems for backup and large-scale power, along with electrolyzers that separate water into hydrogen and oxygen and equipment that liquefies hydrogen. The business predominantly serves North American and European material-handling markets, selling directly and through equipment manufacturers and their dealers. Plug reports one business segment and runs hydrogen plants in Tennessee, Georgia and Louisiana. Walmart accounted for 24.2% of Plug's revenue in 2025\. CEO Jose Luis Crespo said the retailer's [equipment refresh cycle](https://finance.yahoo.com/markets/stocks/articles/plug-q3-earnings-call-focuses-140000958.html?ref=bullished.co) is expected to begin in the fourth quarter. ### Sources - [PLUG Q3 Earnings Call Focuses on Cash Flow and Margin Recovery](https://finance.yahoo.com/markets/stocks/articles/plug-q3-earnings-call-focuses-140000958.html?ref=bullished.co) — Yahoo Finance - [Why is Plug Power Stock Trading Higher Today?](https://www.benzinga.com/trading-ideas/movers/26/11/63084265/why-is-plug-power-stock-trading-higher-today?ref=bullished.co) — benzinga.com - [Plug reaffirms 15% to 16% revenue growth while forecasting roughly $280M in Q4 revenue and targeting positive EBITDAS (NASDAQ:PLUG) | Seeking Alpha](https://seekingalpha.com/news/4669440-plug-reaffirms-15-percent-to-16-percent-revenue-growth-while-forecasting-roughly-280m-in-q4?ref=bullished.co) — seekingalpha.com - [Plug Power (PLUG) Reports Q3 Earnings: What Key Metrics Have to Say](https://finance.yahoo.com/markets/stocks/articles/plug-power-plug-reports-q3-003001527.html?ref=bullished.co) — Yahoo Finance - [Plug Power (PLUG) Reports Q3 Loss, Tops Revenue Estimates](https://nz.finance.yahoo.com/news/plug-power-plug-reports-q3-213503979.html?ref=bullished.co) — Yahoo Finance - [PLUG 8-K: On November 9, 2026, Plug Power Inc., a Delaware corporation, issued a press release regarding its financial results for the third quarter ended September 30, 2026](https://www.sec.gov/Archives/edgar/data/0001093691/000110465926124487/tm2629363d1%5F8k.htm?ref=bullished.co) — SEC 8-K Filing - [Plug Power (PLUG) Reports Q3 Earnings: What Key Metrics Have to Say](https://www.zacks.com/stock/news/3026860/plug-power-plug-reports-q3-earnings-what-key-metrics-have-to-say?cid=CS-ZC-FT-fundamental%5Fanalysis|nfm-3026860&ref=bullished.co) — Zacks Investment Research - [Plug Power (PLUG) Reports Q3 Loss, Tops Revenue Estimates](https://www.zacks.com/stock/news/3026758/plug-power-plug-reports-q3-loss-tops-revenue-estimates?cid=CS-ZC-FT-fundamental%5Fanalysis|yseop%5Ftemplate%5F4-3026758&ref=bullished.co) — Zacks Investment Research - [Plug Power — Form 10-Q for the quarter ended 2026-09-30 (quarterly results)](https://www.sec.gov/Archives/edgar/data/1093691/000110465926124578/plug-20260930x10q.htm?ref=bullished.co) — SEC EDGAR ### More on Plug Power - [Plug Power Pegs Third-Quarter Net Cash Usage At About $28 Million, With $134 Million In Cash Left](https://www.bullished.co/plug-power-pegs-third-quarter-net-cash-usage-at-about-28-million-with-134-million-in-cash-5244f62c/) [All Plug Power (PLUG) coverage →](https://www.bullished.co/tag/plug/)