Ballard Power Posts Mixed Q2 Results Hit By Order Delays: Details
Portfolio Pulse from Lekha Gupta
Ballard Power Systems Inc. (NASDAQ:BLDP) reported mixed Q2 FY24 results, with revenue growing 4% Y/Y to $16.0 million but missing the analyst consensus estimate of $18.6 million. EPS loss of $0.11 beat the consensus estimate for a loss of $0.13. The company experienced a 6% Q/Q decline in order backlog and reduced its capital expenditure guidance for FY24. BLDP shares are down 3.11% following the report.
August 12, 2024 | 2:09 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Ballard Power Systems reported mixed Q2 FY24 results with revenue growing 4% Y/Y to $16.0 million but missing analyst estimates. EPS loss of $0.11 beat expectations. Order backlog declined 6% Q/Q, and the company reduced its capital expenditure guidance for FY24. Shares are down 3.11%.
The mixed Q2 results, with revenue missing estimates and a decline in order backlog, have led to a negative market reaction, causing BLDP shares to drop 3.11%. The reduction in capital expenditure guidance also indicates potential caution in future investments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100