Ballard Power Systems Inc. (NASDAQ:BLDP) Q1 2024 Earnings Conference Call May 7, 2024 11:00 AM ET Company Participants Kate Igbalode - Vice President, Investor Relations Randy MacEwen - Chief Executive Officer Paul Dobson - Chief Financial Officer Conference Call Participants Rob Brown - Lake Street Capital Markets Aaron MacNeil - TD Cowen Saumya Jain - UBS Mac Whale - Cormark Securities Rupert Merer - National Bank Jordan Levy - Truist Securities Craig Shere - Tuohy Brothers Vikram Bagri - Citi Capital Ope ...

For the quarter ended March 2024, Ballard Power Systems (BLDP) reported revenue of $14.45 million, up 8.7% over the same period last year. EPS came in at -$0.14, compared to -$0.11 in the year-ago quarter.The reported revenue represents a surprise of -12.43% over the Zacks Consensus Estimate of $16.5 million. With the consensus EPS estimate being -$0.13, the EPS surprise was -7.69%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to de ...

Ballard Power Systems (BLDP) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.69%. A quarter ago, it was expected that this fuel cell technology company would post a loss of $0.12 per share when it actually produced a loss of $0.16, delivering a surprise of -33.33%.Over the last four quarte ...

VANCOUVER, BC, May 7, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the first quarter ended March 31, 2024. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). "In our last earnings report, we indicated that we expected continued growth in our Order Backlog, major order announcements from customers in our Bus and Stationary verticals, and ...

VANCOUVER, BC, April 16, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced multiple purchase orders totaling 70 FCmove®-HD hydrogen fuel cell engines from its customer Wrightbus (https://wrightbus.com/), a UK-based bus manufacturer deploying hydrogen-powered buses in the UK and Europe. Ballard expects delivery of the fuel cell engines to occur in 2024, and the buses to enter into service in 2025. The hydrogen fuel cell engines will power single- and double-decker buses in ...

Market Overview - Penny stocks are characterized by their riskiness, experiencing rapid surges and falls due to low trading volume and affordable pricing, presenting opportunities for informed investors to secure substantial gains at low costs [1] - Anticipated consecutive rate cuts in 2024 could create a favorable environment for penny stocks, with expected rates around the low 5% range before dropping to the high 4s next year, compared to the current rate of 5.5% [1] Company Analysis: Ballard Power Systems (BLDP) - Ballard Power Systems focuses on heavy automotive markets and portable power solutions, securing a significant order for over 177 hydrogen fuel cell engines for buses across Europe, marking a pivotal moment for the company [3] - The company has managed to mitigate cash burn and has no debt on its balance sheet, positioning it well in the current high-interest rate environment [4] Company Analysis: Desktop Metal (DM) - Desktop Metal has faced challenges due to rising rates, with its share price dropping from $30 in 2021 to under $1, but has emerged stronger, adapting to a more sustainable growth mindset [6] - The company reported a reduction in net loss from $740.3 million in 2022 to $323.4 million by the end of 2023, alongside a 25% reduction in burn rate and increased cash reserves, projecting breakeven EBITDA in the second half of 2024 [7] Company Analysis: Taboola (TBLA) - Taboola has seen a modest rise of 2.14% in 2024, but a significant 75% increase over the past year indicates bullish momentum, suggesting potential for further growth [8][9] - The company has formed a multi-year partnership with Advance Local to enhance user engagement and capitalize on new marketing opportunities, positioning itself well in the growing digital marketing industry [9]

VANCOUVER, BC, April 9, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Tuesday, May 7th, 2024 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review first 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 & Pre ...

Group 1 - Ballard Power Systems (BLDP) has experienced a significant stock decline of 43% over the past year, with a recent drop of over 4% [1] - The company secured a long-term agreement with Solaris Bus & Coach to supply 1,000 hydrogen fuel cell engines, marking the largest deal in Ballard's history [1] - The global fuel cell market is projected to grow from $4.58 billion in 2021 to $36.41 billion by 2029, indicating a compound annual growth rate of 29.7% from 2022 [1] Group 2 - Analysts currently rate BLDP shares as a consensus hold, with a wide price range forecasted from $2.30 to $15 [2] - Resistance levels for traders are identified between $3.15 and $3.38, making short-term trading challenging [2] - The short interest in BLDP is at 9.19% of the float, with a short interest ratio of 4.51 days to cover, indicating potential volatility [4] Group 3 - A suggested trading strategy includes buying the in-the-money 2024 Aug 16 $3 call options, which closed at a premium of 55 cents [5] - The call option has a bid-ask spread of 25.9%, which is considered favorable compared to other options in the market [5] - The target price for BLDP is aimed at a return to near the $4 level, which could trigger further bearish activity [5]

Core Insights - Ballard Power Systems has been awarded $54 million in investment tax credits from the U.S. Internal Revenue Service under the Qualifying Advanced Energy Project Tax Credit (48C) program, funded by the Inflation Reduction Act (IRA) [1] - The company plans to utilize these tax credits to support the construction of a new fuel cell Gigafactory in Rockwall, Texas, which is part of a broader strategy to enhance domestic clean energy supply chains [1][2] - The total federal funding for the Rockwall Gigafactory now amounts to $94 million, combining the recent tax credits with a previously announced $40 million grant from the U.S. Department of Energy [2] Investment and Production Plans - Ballard intends to invest approximately $110 million in Phase I of the Rockwall Gigafactory project from 2024 to 2027, net of the federal grants and tax credits [2][3] - The facility is expected to have an annual production capacity of 8 million membrane electrode assemblies (MEAs), 8 million bipolar plates, 20,000 fuel cell stacks, and 20,000 fuel cell engines, equating to 3 gigawatts of fuel cells [3] - The company aims to finalize the investment decision for the facility later in 2024, contingent on necessary approvals and documentation [3] Strategic Positioning - Ballard is positioned at the intersection of decarbonization, energy security, and technological change, with a focus on zero-emission fuel cell products [2] - The company is experiencing increasing customer interest and is committed to scaling production while reducing costs to meet market demands [2] - The Rockwall Gigafactory is part of a "local for local" global manufacturing strategy aimed at future growth and attractive financial returns [3]

Core Insights - Ballard Power Systems has signed a Long Term Supply Agreement with Solaris Bus & Coach for the supply of 1,000 hydrogen fuel cell engines through 2027, marking the largest order in Ballard's history [1][2] - The agreement consolidates existing orders for approximately 300 engines and adds a new commitment for about 700 additional engines, including after-market and extended warranty services [2] - The engines will consist of approximately 80% FCmove®-HD 70 kW and 20% FCmove®-HD+ 100 kW, targeting both 12-metre and 18-metre bus markets, with deliveries starting in 2024 [2] Industry Context - The deployment of these engines is expected across over 22 European cities, supported by policies aimed at decarbonizing public transport fleets [3] - The transition to zero-emission buses is accelerating due to the advantages of hydrogen fuel cells, including zero emissions, quick refueling, and long range [3] - The partnership aims to enhance the adoption of fuel cell buses in Europe, contributing to economies of scale and cost reduction for fleet operators [4] Company Statements - Ballard's CEO emphasized the significance of this agreement in advancing fuel cell bus adoption and highlighted the collaborative efforts with Solaris over the past decade [4] - Solaris' CEO noted the company's leadership in deploying hydrogen technology in public transport, with nearly 200 hydrogen-powered buses delivered and over 500 units in the order book for the next two years [4]