Ballard Power Systems Shares Gain On Q2 Results, Order Book Growth
Portfolio Pulse from Akanksha Bakshi
Ballard Power Systems Inc reported a Q2 FY23 revenue decrease of 27% YoY to $15.30 million, missing the consensus of $15.88 million. The company reported a gross loss of $(3.2) million, compared to $(2.2) million a year ago. However, EPS loss improved to $(0.10) from $(0.19) in 2Q22, beating the consensus of $(0.13). Ballard received ~$25.1 million of new orders in Q2 and delivered orders valued at $15.3 million, resulting in an Order Backlog of ~$147.5 million at the end of the quarter. The company's shares are trading higher by 3.5% at $4.86.
August 09, 2023 | 3:12 pm
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NEUTRAL IMPACT
Ballard Power Systems reported a decrease in Q2 FY23 revenue and an increase in gross loss. However, the company's EPS loss improved and it received significant new orders, leading to a rise in its share price.
Despite the decrease in revenue and increase in gross loss, Ballard Power Systems' improved EPS loss and significant new orders have likely contributed to the rise in its share price. However, the overall financial performance of the company indicates a mixed impact on the stock, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100