Ballard Power Systems Expects Revenue In 2024 Will Be Back-Half Weighted, With Roughly 30% In The First Half And 70% In The Second Half, Similar To 2023
Portfolio Pulse from Benzinga Newsdesk
Ballard Power Systems anticipates its 2024 revenue to be heavily weighted towards the second half of the year, mirroring its 2023 pattern, with about 30% expected in the first half and 70% in the latter half. The company has not provided specific revenue or net income guidance for 2024 due to the nascent stage of the hydrogen fuel cell market. Ballard's projected total operating expenses for 2024 are between $145 million and $165 million, with capital expenditures estimated to be between $50 million and $70 million.
May 07, 2024 | 12:40 pm
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Ballard Power Systems expects a back-half weighted revenue distribution in 2024, similar to 2023, without providing specific figures due to the early hydrogen fuel cell market stage. Operating expenses are projected to be $145-$165 million, with capital expenditures of $50-$70 million.
The lack of specific revenue or net income guidance for 2024, combined with the expected distribution of revenue across the year, suggests a cautious outlook that reflects the company's understanding of the hydrogen fuel cell market's unpredictability. The provided ranges for operating expenses and capital expenditures indicate Ballard's strategic planning for the year ahead. However, without specific revenue figures, the impact on the stock price is likely neutral in the short term, as investors may have anticipated this cautious stance given the industry's nascent stage.
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