Core Insights - Ballard Power Systems reported a significant decline in revenue and earnings for the quarter ended September 2024, with revenue of $14.76 million, down 46.5% year-over-year, and an EPS of -$0.19 compared to -$0.12 in the previous year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $24.74 million by 40.36%, and the EPS also missed the consensus estimate of -$0.13 by 46.15% [1] Revenue Breakdown - Revenue from Fuel Cell Products & Services in Heavy-Duty Mobility was $12.82 million, which is a 39.2% decrease year-over-year and below the average estimate of $15.71 million from two analysts [3] - Revenue from Fuel Cell Products & Services in Emerging and Other Markets was $1.43 million, representing a 60.4% decline compared to the previous year and falling short of the estimated $2.43 million [3] - Revenue from Fuel Cell Products & Services in Stationary applications was $0.51 million, down 82.5% year-over-year, significantly lower than the average estimate of $2.91 million [3] Stock Performance - Over the past month, Ballard's shares have returned -1.7%, compared to a -0.5% change in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance against the broader market in the near term [4]

Ballard Power Systems (BLDP) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -46.15%. A quarter ago, it was expected that this fuel cell technology company would post a loss of $0.13 per share when it actually produced a loss of $0.11, delivering a surprise of 15.38%.Over the last four quarte ...

Core Insights - Ballard Power Systems reported a challenging third quarter in 2024, with significant declines in revenue and gross margin, alongside a restructuring charge and non-cash impairments totaling approximately $163.1 million [2][5][6]. Financial Performance - Total revenue for Q3 2024 was $14.8 million, down 45% year-over-year, attributed to slowing customer demand and a delay in the adoption of hydrogen and PEM fuel cells [3][6]. - Heavy Duty Mobility revenue was $12.8 million, a decrease of 38%, with Bus revenue increasing by 33% to $11.2 million, while revenues from Rail, Truck, and Marine verticals saw significant declines [4][6]. - Gross margin was reported at (56%), a decrease of 45 percentage points year-over-year, primarily due to lower revenue and onerous contracts [4][6]. - Total operating expenses rose to $54.9 million, an increase of 58% year-over-year, driven by a $16.1 million restructuring charge and a $7.9 million impairment of trade receivables [5][9]. Order Backlog and New Orders - The company received approximately $7.1 million in new orders during Q3 but removed previously booked orders valued at $39.2 million, resulting in a net new order intake of ($32.1) million [5][7]. - The order backlog at the end of Q3 2024 was approximately $122.7 million, a 28% decrease from the end of Q2 2024 [5][7]. Strategic Actions - A global corporate restructuring was initiated to reduce annualized operating costs by over 30%, with expected savings to be realized in 2025 [2][5]. - The Texas gigafactory expansion program has been repositioned to an optionality plan, deferring the final investment decision to 2026 while preserving over $94 million in government funding [2][5]. Long-term Outlook - The company maintains a strong conviction in the role of hydrogen and PEM fuel cells in decarbonizing heavy mobility and stationary power applications, focusing on developing next-generation, low-cost fuel cell products [2][5].

The market expects Ballard Power Systems (BLDP) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to ...

VANCOUVER, BC, Oct. 3, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Tuesday, November 5th, 2024 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review third quarter 2024 operating results.The live call can be accessed by dialing +1-844-763-8274 (Canada/US toll free). Alternatively, a live webcast can be accessed through a link on Ballard's homepage (www.ballard.com). Following the call, the webcast will be archived in the 'Earnings, Interviews & ...

VANCOUVER, BC, Sept. 12, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a global corporate restructuring to reduce corporate spending and in order to maintain balance sheet strength amid a slowdown in hydrogen infrastructure development and delayed fuel cell adoption."As discussed during our recent earnings call, in the context of a challenging macroeconomic and geopolitical outlook and amid protracted policy uncertainty, we see a multi-year push-out of the availability ...

Investment Rating - The report maintains an **OUTPERFORM** rating for Ballard Power Systems (BLDP US) with a target price of $6.50 [42] Core Views - The market is expected to react slightly negatively to Ballard's Q2 2024 results due to a net loss of $31.5 million, higher than market expectations, driven by low revenue and fixed cost pressures [2] - Ballard reaffirmed its 2024 operating expense guidance of $145-165 million but reduced its capital expenditure guidance from $50-70 million to $25-40 million [2] - The company expects revenue to be weighted towards the second half of 2024, with corresponding gross margin expansion [2] - Ballard did not reiterate its expectation of achieving breakeven by FY2025, with EBITDA profitability projected for 2027-2028 and gross margins in the low 20% range [2] - Q2 2024 revenue was $16 million, below the consensus estimate of $18.7 million, with a gross margin of -32%, worse than the expected -15% [2] - Backlog decreased from $180.5 million in Q1 2024 to $169.5 million in Q2 2024, with 12-month orders dropping from $79.7 million to $75.5 million [2] Financial Performance - Q2 2024 revenue grew 11% quarter-over-quarter and 5% year-over-year, driven by the Power Products division [2] - Gross loss improved slightly to -$5.1 million in Q2 2024 from -$5.4 million in Q1 2024, due to increased revenue and cost reduction initiatives [2] - EBITDA loss was $37.5 million, slightly worse than the consensus estimate of $36.4 million [4] - Net loss for Q2 2024 was $31.5 million, a 24% improvement from Q1 2024 but 5% worse year-over-year [4] Strategic Outlook - Ballard's future capital expenditure guidance over the next five years is $300 million [2] - No updates were provided on the $130 million MEA factory in Shanghai, which is still under review [3]

Scharfsinn86/iStock via Getty Images I have covered Ballard Power Systems Inc. (NASDAQ:BLDP) (TSX:BLDP:CA) previously, so investors should view this as an update to my earlier articles on the company. On Monday, leading Canadian fuel cell systems developer Ballard Power Systems Inc. ("Ballard" or "Ballard Power") reported another set of weak quarterly results with poor margins and revenues coming in well below consensus expectations: Company Press Releases Adding insult to injury, new order intake of ju ...

Ballard Power Systems Inc. (NASDAQ:BLDP) Q2 2024 Earnings Conference Call August 12, 2024 11:00 AM ET Company Participants Kate Igbalode - VP, IR Randy MacEwen - CEO Paul Dobson - CFO Conference Call Participants Rupert Merer - National Bank Mac Whale - Cormark Securities Aaron MacNeil - TD Cowen Jordan Levy - Truist Securities Saumya Jain - UBS Kashy Harrison - Piper Sandler Rob Brown - Lake Street Capital Markets Ameet Thakkar - BMO Capital Markets Craig Irwin - ROTH Capital Partners Operator Thank you fo ...

Core Insights - Ballard Power Systems reported $16 million in revenue for Q2 2024, a 4.5% year-over-year increase, but fell short of the Zacks Consensus Estimate by 12.15% [1] - The company posted an EPS of -$0.11, which is an improvement from -$0.10 a year ago, resulting in a positive EPS surprise of 15.38% compared to the consensus estimate of -$0.13 [1] Revenue Breakdown - Revenue from Fuel Cell Products & Services in Heavy-Duty Mobility was $13.20 million, slightly below the average estimate of $13.80 million, but showed a significant year-over-year increase of 55.9% [3] - Revenue from Fuel Cell Products & Services in Emerging and Other Markets was $1.20 million, which is lower than the average estimate of $1.27 million, reflecting a substantial year-over-year decline of 63.8% [4] - Revenue from Fuel Cell Products & Services in Stationary applications was $1.70 million, significantly below the average estimate of $3.33 million, marking a year-over-year decrease of 51.8% [5] Stock Performance - Over the past month, shares of Ballard Power Systems have declined by 27.7%, contrasting with the performance of the Zacks S&P 500 composite [5]