Ballard Power Systems Inc.
BLDPBallard Power Systems Inc. is a Canadian company specializing in the development and commercialization of proton exchange membrane (PEM) fuel cell products for transportation, portable power, and stationary power generation. Founded in 1979, it focuses on clean energy solutions, producing fuel cell stacks and systems designed to provide sustainable and efficient power alternatives across various industries.
Company News
Ballard Power Systems reported Q3 earnings with a narrowing net loss, increased revenue, and improved gross margins. The company reduced cash operating costs and lowered capital expenditure outlook, but saw a decline in order backlog.
Ballard Power Systems reported a 120% year-over-year revenue increase to $32.5 million, driven primarily by bus and rail segment deliveries. The company showed progress in restructuring efforts, improved gross margins, and is focusing on strategic market alignment while working towards cash flow positivity.
The global automotive fuel cell market is projected to grow from USD 5.01 billion in 2023 to USD 86.83 billion by 2032, with a CAGR of 37.29%, driven by zero-emission mobility, government incentives, and technological advancements in fuel cell technology.
While the top- and bottom-line numbers for Ballard (BLDP) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
