Ballard Power's Q3 Results Show Revenue Surge, Yet Net Losses Show An Upward Trend
Portfolio Pulse from Akanksha Bakshi
Ballard Power Systems Inc reported a Q3 FY23 revenue growth of 29% YoY to $127.6 million, beating the consensus of $26.20 million. However, the company reported a gross loss of $(2.8) million and an EPS loss of $(0.21), missing the consensus of $(0.13). The company received ~$14.8 million of new orders in Q3 and delivered orders valued at $27.6 million. The company's cash used in operating activities narrowed to $(22) million, compared to $(30.3) million a year ago. Ballard Power's shares are trading lower by 2.25% at $3.48.
November 07, 2023 | 6:29 pm
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Ballard Power's Q3 FY23 results show a revenue surge but also an increase in net losses. The company's shares are trading lower.
Ballard Power's Q3 FY23 results show a significant increase in revenue, beating the consensus. However, the company also reported an increase in net losses, which is likely to have a negative impact on the company's stock price. The company's shares are currently trading lower, which indicates that the market has reacted negatively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100