Why is ITM Power stock climbing today?

ITM Power, a green hydrogen electrolyser maker, saw its stock climb 2.5% to £94.31 as the market digested a significant pre-results guidance upgrade. The company now expects an adjusted EBITDA loss of £20 million to £21 million for the fiscal year ending April 30, 2026, a 27% improvement from previous estimates of £27m–£29m and a 38% improvement year-on-year.

Revenue and cash guidance remained unchanged, indicating tighter cost management. The guidance upgrade caught investors off guard given the scale of the improvement relative to expectations. The stock, which trades below its 52-week high of 217.6p, has recovered from its 52-week low of 58p, showing renewed investor confidence in the company's operational trajectory.

Today's rally was supported by a supportive backdrop from the broader London market, with the FTSE AIM 100 rising 1.1% and the FTSE All Share gaining 1.0%. Additionally, easing oil prices following remarks from US President Trump reduced near-term fears of supply disruption, benefiting risk-sensitive growth stocks like ITM Power.

The company's preliminary full-year results, scheduled for October 19, 2026, are expected to provide more granular details on its liquidity position and order book, solidifying the positive sentiment surrounding the stock.