BLDP Stock Falls Late After Ballard Power Misses Forecasts; Auto Supplier Inks…

by akoloy

Ballard Power Systems (BLDP) fell wanting first-quarter estimates late Monday after saying an alliance with Linamar to promote gasoline cell powertrains. BLDP inventory fell late.


BLDP Stock, Earnings

Estimates: A lack of 5 cents per share vs. a 6 cent loss within the year-ago quarter. Revenue is seen rising 7.3% to $25.7 million.

Results: Loss of 6 cents a share on income of $17.6 million, down 26%. Power Products income dropped 25% to $9.4 million due largely to decrease product shipments to China. Technology Solutions income declined 29% to $8.2 million due primarily to decrease quantities earned from the Audi program.

Ballard obtained $11.8 million in new orders throughout Q1, however after deliveries, the backlog fell by $5.8 million from This fall to finish at $112 million in Q1.

“Supported by a strengthening policy backdrop and increased customer engagement, we have clearer line of sight on long-term growth in our core medium- and heavy-duty motive applications of bus, truck, rail and marine,” mentioned CEO Randy MacEwen. “As a result, 2021 will be marked by increased and accelerated investment ahead of market tipping points.”

Outlook: In its This fall report, Ballard set a 2021 capital dedication of $79.5 million.

Stock: Shares fell 5% later after closing down 7.4% at 20.26 on the stock market today, again beneath the 200-day line. BLDP inventory has misplaced greater than half its worth since hitting a excessive of 42.28 on Feb. 9, in response to MarketSmith chart analysis.

Among different fuel-cell shares, FuelCell Energy (FCEL) misplaced 6.4%, Plug Power (PLUG) dropped 6.6%, and Bloom Energy (BE) gave up 4.4%.

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Auto Supplier Taps Ballard

Ballard Power mentioned it could work with Canadian car elements producer Linamar to construct fuel cell powertrains and elements for passenger automobiles, SUVs, gentle vehicles and industrial vans weighing as much as 5 tons. The merchandise initially will probably be marketed for North America and Europe.

“In addition to our existing joint working relationship on the recently announced UPS delivery vans trial in California, we now deepen our collaboration based on a joint vision to provide zero-emission fuel cell powertrains for light-duty vehicles, particularly those that require long range, extended duty cycle and rapid refueling,” Ballard CEO Randy MacEwen mentioned within the launch.

The Linamar pact comes after Canadian Pacific (CP) introduced in March that Ballard fuel-cell modules will probably be used for the railroad operator’s Hydrogen Locomotive Program, an effort to construct North America’s first hydrogen-powered freight locomotive.

Ballard will ship six of its 200-kilowatt fuel-cell modules to the railroad operator this yr.

Hydrogen gasoline cells are gaining recognition as renewable vitality funding has been on the rise globally following the enactment of the Paris Climate Agreement. Even Saudi Aramco, the world’s largest vitality firm, sees a huge potential for hydrogen fuel.

Follow Gillian Rich on Twitter for vitality information and extra.


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