Ballard power systems inc businessweek
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6 FAQs about [Ballard power systems inc businessweek]
How did Ballard Power Systems perform in Q3 2024?
In its latest financial report for the third quarter of 2024, Ballard Power Systems reported significant financial challenges, including a substantial drop in revenue and increased losses. The company faced a tough quarter with a weak revenue of $14.8 million, marking a 45% decrease compared to the same period last year.
What happened to Ballard Power Systems?
The company’s products are used in buses, trucks, trains, marine vessels, and various stationary power applications. In its latest financial report for the third quarter of 2024, Ballard Power Systems reported significant financial challenges, including a substantial drop in revenue and increased losses.
Why are Ballard Power Systems (BLDP) shares trading lower?
Ballard Power Systems Inc. (NASDAQ: BLDP) shares are trading lower after it reported third-quarter results. Revenue fell 45% year-over-year to $14.8 million, missing the analyst consensus estimate of $23.6 million. Revenue decreased due to weak customer demand, which reflects a push-out in the adoption curve for hydrogen and PEM fuel cells.
Who is Ballard Power Systems?
Ballard Power Systems Inc. is a company focused on delivering zero-emission Proton Exchange Membrane (PEM) fuel cells for applications in mobility and stationary power sectors. The company’s products are used in buses, trucks, trains, marine vessels, and various stationary power applications.
How did Ballard Power Systems perform in Q4?
The company noted it had soft revenue and new order intake performance in the quarter and also removed previously booked orders valued at $39.2 million from its order backlog relating to certain high-risk markets and customers, including in China. FY24 Outlook: Ballard Power Systems expects revenue to be weighted toward the fourth quarter.
How much money does Ballard get from the US government?
Ballard, for example, said it has received US$94 million in funding awards from the U.S. government for a planned manufacturing plant in Texas. “It’s a significant amount of capital that’s kind of almost a once-in-a-lifetime type of opportunity for funding,” MacEwen told analysts on the second-quarter conference call in August.