The market expects Ballard Power Systems (BLDP) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2023. 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 earnings report, which is expected to be released on March 11, 2024, might help the stock move higher if these key n ...

VANCOUVER, BC, Feb. 26, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Monday, March 11th, 2024 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review fourth quarter and full year 2023 operating results. The live call can be accessed by dialing +1-604-638-5340. 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 & Presenta ...

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Ballard Power Systems Inc. (NASDAQ:BLDP) Q3 2023 Results Conference Call November 7, 2023 11:00 AM ET Company Participants Kate Charlton - IR Randy MacEwen - CEO Paul Dobson - CFO Conference Call Participants Michael Glen - Raymond James Aaron MacNeil - TD Cowen Rob Brown - Lake Street Capital Markets Mac Whale - Cormark Securities Rupert Merer - National Bank Jordan Levy - Truist Securities Manav Gupta - UBS Operator Thank you for standing by. This is the conference operator. Welcome to the Ballard Power S ...

Ballard Power Systems Inc. (NASDAQ:BLDP) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET Company Participants Kate Charlton - Vice President, Investor Relations Randy MacEwen - Chief Executive Officer Paul Dobson - Chief Financial Officer Conference Call Participants Aaron MacNeil - TD Cowen Manav Gupta - UBS Rupert Merer - National Bank Rob Brown - Lake Street Capital Markets Greg Wasikowski - Webber Research Mac Whale - Cormark Securities Jordan Levy - Truist Securities Brett Castelli - Mornin ...

[Q2 2023 Performance Overview](index=1&type=section&id=Q2%202023%20Performance%20Overview) This section provides an overview of the company's second-quarter 2023 performance, including management commentary and key financial highlights [Management Commentary](index=1&type=section&id=Management%20Commentary) Management emphasized strategic progress, a growing order book, and re-evaluation of China manufacturing plans towards potential US/EU expansion - The company received **$25.1 million** in new orders during Q2, contributing to a Power Products backlog that is up over **140%** year-over-year[2](index=2&type=chunk) - Ballard is re-evaluating its previously announced MEA localization plan in China due to policy uncertainties and market delays, now analyzing manufacturing capacity expansion options in the US and/or EU, with a decision expected in early 2024[2](index=2&type=chunk) - The company anticipates sequential quarterly revenue growth in the second half of 2023 compared to the first half, along with continued growth in the order book to support 2024 revenue[3](index=3&type=chunk) [Financial Highlights](index=2&type=section&id=Financial%20Highlights) Ballard reported Q2 2023 revenue of **$15.3 million**, a **27%** decrease year-over-year, primarily due to a **39%** drop in Heavy Duty Mobility revenue, with gross margin worsening to **(21%)** and Adjusted EBITDA slightly lower at **($35.9 million)**, while the order backlog grew to **$147.5 million** [Key Financial Metrics](index=2&type=section&id=Key%20Financial%20Metrics) Q2 2023 Key Financial Metrics vs. Q2 2022 | Metric | Q2 2023 | Q2 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $15.3 M | $20.9 M | (27)% | | Gross Margin % | (21)% | (11)% | (10) pts | | Total Operating Expenses | $37.5 M | $38.5 M | (3)% | | Adjusted EBITDA | ($35.9) M | ($35.0) M | (3)% | | Net Loss | ($30.1) M | ($55.8) M | 46% | | Loss Per Share | ($0.10) | ($0.19) | 47% | [Revenue by Segment](index=2&type=section&id=Revenue%20by%20Segment) Q2 2023 Revenue by Segment ($M) | Segment | Q2 2023 | Q2 2022 | % Change | | :--- | :--- | :--- | :--- | | Heavy-Duty Mobility | $8.5 | $13.9 | (39)% | | Stationary | $3.5 | $3.8 | (6)% | | Emerging and Other Markets | $3.3 | $3.3 | -% | | **Total** | **$15.3** | **$20.9** | **(27)%** | - The **39%** decrease in Heavy Duty Mobility revenue was driven by lower revenues from bus, truck, and rail verticals, partially offset by higher marine revenue[6](index=6&type=chunk) [Order Book and Backlog](index=2&type=section&id=Order%20Book%20and%20Backlog) Order Backlog Movement in Q2 2023 ($M) | Description | Amount | | :--- | :--- | | Backlog at End-Q1 2023 | $137.7 | | New Orders in Q2 2023 | $25.1 | | Orders Delivered in Q2 2023 | $15.3 | | **Backlog at End-Q2 2023** | **$147.5** | - The 12-month Order Book stood at **$85.9 million** at the end of Q2, marking an increase of **$12.0 million** or approximately **16%** from the end of Q1 2023[6](index=6&type=chunk) - Order backlog growth was primarily driven by increased orders from North America and Europe, which now represent close to **80%** of the total backlog[6](index=6&type=chunk) [Detailed Financial Summary](index=3&type=section&id=Q2%202023%20Financial%20Summary) This section provides a comprehensive financial summary table for the three months ended June 30, 2023, comparing key metrics against the same period in 2022, detailing revenue by sub-segment, profitability measures, and cash flow information, highlighting a **29%** improvement in cash used by operating activities Q2 2023 Financial Summary (Millions of U.S. dollars) | | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | **REVENUE** | | | | | Heavy-Duty Mobility | $8.5 | $13.9 | (39 %) | | Stationary | $3.5 | $3.8 | (6 %) | | Emerging and Other Markets | $3.3 | $3.3 | - % | | **Total Revenue** | **$15.3** | **$20.9** | **(27) %** | | **PROFITABILITY** | | | | | Gross Margin $ | ($3.2) | $(2.2) | (45 %) | | Gross Margin % | (21 %) | (11 %) | (10)pts | | Adjusted EBITDA | ($35.9) | ($35.0) | (3 %) | | Net Loss | ($30.1) | ($55.8) | 46 % | | **CASH** | | | | | Cash used by Operating Activities | ($27.7) | ($39.0) | 29 % | | Cash and cash equivalents | $815.1 | $1,002.6 | (19 %) | [2023 Outlook](index=3&type=section&id=2023%20Outlook) This section outlines the company's financial projections and guidance for the full year 2023 [Full Year Guidance](index=3&type=section&id=Full%20Year%20Guidance) The company reaffirmed its full-year 2023 guidance, expecting Total Operating Expense to be between **$135 million** and **$155 million**, and Capital Expenditure to be in the range of **$40 million** to **$60 million** 2023 Full Year Guidance | Metric | Guidance Range | | :--- | :--- | | Total Operating Expense | $135 - $155 million | | Capital Expenditure | $40 - $60 million | [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) This section details the company's non-GAAP financial measures and their reconciliation to IFRS equivalents [Reconciliation of Non-GAAP Measures](index=5&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section provides a reconciliation of non-GAAP financial measures to their nearest IFRS equivalents, detailing adjustments made to Total Operating Expenses to arrive at Cash Operating Costs, and to Net Loss to calculate EBITDA and Adjusted EBITDA for Q2 2023 - The company uses non-GAAP measures such as Cash Operating Costs, EBITDA, and Adjusted EBITDA to assist investors in assessing operating performance, excluding items like stock-based compensation, depreciation, amortization, and unrealized foreign exchange gains/losses[15](index=15&type=chunk)[16](index=16&type=chunk) Reconciliation of Total Operating Expenses to Cash Operating Costs (in thousands) | Description | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Total Operating Expenses | $37,518 | $38,461 | | *Less Adjustments* | | | | Stock-based compensation | ($3,094) | ($2,780) | | Depreciation and amortization | ($2,267) | ($2,491) | | Other adjustments | ($602) | $1,117 | | **Cash Operating Costs** | **$32,915** | **$32,073** | Reconciliation of Net Loss to EBITDA and Adjusted EBITDA (in thousands) | Description | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Net loss | ($30,096) | ($55,791) | | Depreciation and amortization | $3,286 | $3,441 | | Finance expense | $264 | $308 | | Income taxes (recovery) | $98 | $88 | | **EBITDA** | **($26,448)** | **($51,954)** | | *Further Adjustments* | | | | Stock-based compensation | $3,094 | $2,780 | | Finance and other (income) loss | ($11,865) | $13,123 | | Other adjustments | ($680) | $1,050 | | **Adjusted EBITDA** | **($35,899)** | **($35,001)** |

Financial Data and Key Metrics Changes - In Q1 2023, Ballard Power Systems reported revenues of $13.3 million, with approximately 70% coming from Heavy-Duty Motive applications [17][19] - The company experienced continued gross margin pressure, attributed to a shift in revenue mix, low absorption of manufacturing overhead costs, and increases in supply and labor costs [18][19] - Total operating expenses were reported at $37.5 million, with capital expenditures of $11.6 million for the same period [19] Business Line Data and Key Metrics Changes - Revenue from the bus vertical increased sequentially, with order backlog for bus orders up almost 30% compared to the previous period [7] - The truck market saw a sevenfold growth outside of China compared to Q1 2022, although revenues in this segment were flat due to declining revenues from China [8][9] - The rail market is expected to see significant activity in the second half of 2023, with anticipated deliveries to Siemens and Stadler [10] - The marine vertical is experiencing strong customer interest, with a backlog of close to $5 million expected to be delivered this year [10] - The stationary power market saw a 25% increase in backlog, driven by a follow-on order for 3.6 megawatts [11] Market Data and Key Metrics Changes - Europe accounted for approximately 62% of the total order backlog at the end of Q1 2023, continuing to be the largest geographic contributor [14] - The U.S. is expected to see significant changes due to major policy announcements, including the implementation of the IRA bill [15] - The Chinese market is facing challenges due to a complicated policy environment, leading to a year-over-year decline in sales volumes [16][17] Company Strategy and Development Direction - The company aims to commercialize PEM fuel cell technology across multiple market applications, focusing on sectors where fuel cell technology offers the strongest value proposition [5][6] - A strategic shift is underway to report revenues based on key end markets, including bus, truck, rail, marine, stationary, and emerging markets [6] - The company is committed to strengthening its U.S. platform and exploring opportunities for manufacturing capacity expansion [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growing customer engagement across verticals, supported by a constructive policy backdrop [5] - The company anticipates that the first half of 2023 will represent approximately 30% of full-year revenues, with a more significant revenue contribution expected in the second half [12][78] - Management highlighted the importance of achieving a total cost of ownership crossover as low-cost hydrogen becomes available, which is expected to drive market adoption [25][76] Other Important Information - The company ended Q1 with $864 million in cash and no debt, indicating a strong balance sheet [19] - The MF Hydra, the world's first liquid hydrogen-powered ferry, has entered passenger service in Norway, showcasing the company's advancements in the marine sector [11] Q&A Session Summary Question: Insights on pricing strategy and long-term gross margin targets - Management indicated that pricing strategies are designed to compete against both fuel cell providers and broader zero-emission vehicles, with a focus on achieving a total cost of ownership crossover [23][24] Question: Capital raising plans and shelf filing - Management views the recent shelf filing as a housekeeping matter, indicating that significant capital raising is unlikely unless extraordinary circumstances arise [30] Question: Investment opportunities in China versus North America and Europe - Management remains committed to the Chinese market but is also exploring opportunities for investment in the U.S. and Europe due to strong market and funding opportunities [32][34] Question: Market share expectations for bus orders in Europe - Management expects to maintain a market share of over 85% for bus orders, despite increasing competition [35] Question: Competitive position and strategic plan adjustments - Management emphasized the importance of powertrain integration capabilities gained from the acquisition of BMS, which enhances competitive positioning [46][48] Question: Hydrogen infrastructure and its impact on order growth - Management clarified that current bus orders are primarily based on on-site refueling rather than public refueling infrastructure, which is still developing [50] Question: Cost of hydrogen and its impact on market unlock - Management indicated that a delivered hydrogen cost of $5 per kilogram would unlock significant market potential across various segments [76] Question: Revenue expectations for Q2 and China market growth - Management does not anticipate significant revenue growth in Q2, with a focus on back-end loaded revenue for 2023 [78]

Ballard Power Systems Inc. (NASDAQ:BLDP) Q4 2022 Results Conference Call March 17, 2023 11:00 AM ET Company Participants Kate Charlton - VP, IR Randy MacEwen - CEO Paul Dobson - CFO Conference Call Participants Aaron MacNeil - TD Cowen Michael Glen - Raymond James MacMurray Whale - Cormark Securities Rob Brown - Lake Street Capital Markets Justin Strong - Scotiabank Manav Gupta - UBS Greg Wasikowski - Webber Research Kashy Harrison - Piper Sandler Craig Shere - Tuohy Brothers Brett Castelli - Morningstar Op ...

Ballard Power Systems Inc. (NASDAQ:BLDP) Q3 2022 Results Conference Call November 7, 2022 11:00 AM ET Company Participants Kate Charlton - VP, IR Randy MacEwen - CEO Paul Dobson - CFO Conference Call Participants Rob Brown - Lake Street Capital Markets Aaron MacNeil - TD Securities Rupert Merer - National Bank Financial Mac Whale - Cormark Securities Michael Glen - Raymond James Alex Kania - Wolfe Research Craig Shere - Tuohy Brothers Jeff Osborne - Cowen & Company PJ Juvekar - Citi Greg Wasikowski - Webber ...

[Filing Information](index=1&type=section&id=Filing%20Information) This section details the administrative aspects of Ballard Power Systems Inc.'s Form 6-K filing for September 2022 [Form 6-K Details](index=1&type=section&id=Form%206-K%20Details) Details Ballard Power Systems Inc.'s Form 6-K filing as a foreign private issuer for September 2022 - Registrant: **Ballard Power Systems Inc.**[1](index=1&type=chunk) - Filing Type: Form 6-K, indicating a report of a foreign private issuer, filed under Form 40-F[1](index=1&type=chunk)[2](index=2&type=chunk) - Reporting Period: For the month of **September 2022**[1](index=1&type=chunk) [Signatures](index=2&type=section&id=Signatures) Paul Dobson, CFO of Ballard Power Systems Inc., officially signed the report on September 30, 2022 - Signatory: **Paul Dobson**, Chief Financial Officer[6](index=6&type=chunk) - Signature Date: **September 30, 2022**[6](index=6&type=chunk) [Exhibits](index=3&type=section&id=Exhibits) Presents Ballard Power Systems Inc.'s news release on its global manufacturing strategy and significant China investment [News Release - Global Manufacturing Strategy and China Investment](index=3&type=section&id=News%20Release%20-%20Global%20Manufacturing%20Strategy%20and%20China%20Investment) Ballard Power Systems Inc. announced a global manufacturing strategy, investing **$130 million** in a Shanghai MEA facility and R&D center - Announcement: Global manufacturing strategy[7](index=7&type=chunk) Key Investment Details | Metric | Detail | | :----- | :----- | | Investment Amount | $130 million | | Purpose | MEA manufacturing facility and R&D center | | Location | Shanghai, China | | News Release Date | September 30, 2022 |