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Today, Ballard Power Systems Inc . (NASDAQ: NASDAQ:BLDP), a leading global provider of innovative clean energy and fuel cell solutions with a market capitalization of $412 million, announced that it will host a conference call to discuss its fourth quarter and full year 2024 financial results.
The company, headquartered in Burnaby, British Columbia, confirmed the call in a filing with the U.S. Securities and Exchange Commission. InvestingPro analysis shows the stock trading below its Fair Value, though six analysts have recently revised their earnings expectations downward.
The conference call, scheduled for March 6, will offer investors and analysts an opportunity to hear from Ballard’s executive team about the company’s financial performance and strategic direction. With revenue of $92 million in the last twelve months and a concerning gross profit margin of -31.5%, investors will be keen to understand the company’s path forward. Ballard Power, which operates under the Electrical Industrial Apparatus industry, is known for its commitment to zero-emission PEM fuel cells for a sustainable future.
The announcement did not provide specific financial details or performance metrics but marked an important event for stakeholders to gain insights into Ballard’s operations and market performance. InvestingPro subscribers have access to over 15 additional key insights about Ballard Power, including detailed analysis of its financial health, which is currently rated as WEAK. Investors are encouraged to participate in the call to learn about Ballard’s achievements in the past year and its outlook for the future.
In other recent news, Ballard Power Systems (TSX:BLDP) has reported a series of significant developments. The company announced multiple orders for its fuel cell engines, cumulatively exceeding 6 MW, aimed at powering buses in the European market. Furthermore, Ballard secured a deal to supply 8 MW of fuel cell engines to Stadler Rail (SIX:SRAIL) AG, with the engines set to provide clean energy for passenger rail in California.
In addition to these developments, Ballard disclosed a follow-on order for approximately 20 MW of their fuel cell engines destined for North American locomotives. The company also expanded its collaboration with Canadian Pacific (NYSE:CP) Kansas City, with a new agreement to supply 98 fuel cell engines, each with a capacity of 200 kW, cumulatively providing about 20 MW of power.
Despite facing headwinds in its third quarter of 2024, with substantial decreases in revenue and new order intake, Ballard remains optimistic. The company has initiated a significant restructuring plan, including workforce reductions and a delay in its Texas gigafactory expansion. However, Ballard managed to secure orders for 280 fuel cell engines during this challenging period. These recent developments highlight Ballard Power Systems’ ongoing commitment to clean energy solutions and its strategic efforts to navigate through current market conditions.
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