Why Ballard Power Systems Shares Are Falling Today
Portfolio Pulse from Shivani Kumaresan
Ballard Power Systems Inc (NASDAQ:BLDP) shares fell after reporting Q4 FY23 results with a 132% sales growth to $46.80 million, surpassing estimates. However, adjusted EBITDA was negative at $(44.1) million, and EPS of $(0.16) missed estimates. The company also reported a slight decrease in order backlog and provided FY24 operating expense and capital expenditure outlooks.
March 11, 2024 | 3:32 pm
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NEGATIVE IMPACT
Ballard Power Systems Inc reported strong Q4 sales growth but faced wider losses and missed EPS forecasts, leading to a 7.59% drop in share price.
Despite surpassing sales estimates, Ballard's wider losses and missed EPS forecasts likely contributed to negative investor sentiment, resulting in a significant drop in share price. The slight decrease in order backlog and the provided FY24 outlook may also influence short-term performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100