Ballard Power Stock Price, News & Analysis

Ballard Power Systems (NASDAQ: BLDP) held its 2025 Annual General Meeting on June 4th, where shareholders elected all nominated directors with strong majority support. Randy MacEwen received the highest approval rate at 97.95%, while Janet Woodruff had the lowest at 89.83%. The meeting also resulted in the re-appointment of KPMG LLP as the company's auditor with 85.24% approval. Shareholders also passed an advisory vote on executive compensation with 88.81% support. The voting results demonstrate overall strong shareholder confidence in the company's leadership and governance structure, though some directors like Woodruff, Muehlhaeuser, and Hayhurst faced relatively higher withhold votes around 10%.

Ballard Power Systems has secured a new supply agreement with Sierra Northern Railway to provide 1.5 MW of fuel cell engines for delivery in 2025. The deal involves 12 FCmove-XD engines that will convert three diesel switching locomotives to zero-emission hydrogen-powered units in California. The FCmove-XD modules are specifically engineered for heavy-duty applications, offering high reliability, durability, efficiency, and power density without requiring costly overhead catenary systems. This partnership represents a significant step in decarbonizing North American freight rail operations, with Ballard's fuel cell technology providing benefits like long range, fast refueling, and operational flexibility across various routes and environmental conditions.

Ballard Power Systems (NASDAQ: BLDP) reported Q1 2025 financial results with revenue of $15.4 million, up 6% YoY. The company saw significant improvements in several metrics: engine shipments increased 31%, gross margins improved by 14 points, and operating expenses decreased by 31%. The Bus market showed strong performance, contributing 81% of Q1 revenue with a 41% YoY growth. However, order intake was soft in Q1, with an Order Backlog of $158 million and a 12-month Orderbook of $92.4 million. The company maintains a strong financial position with $576.7 million in cash. Despite facing uncertainties in hydrogen policies and trade tariffs, Ballard continues to focus on cost reduction initiatives and operational efficiency following their 2024 restructuring.

Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) has scheduled its Q1 2025 earnings conference call for Tuesday, May 6th, 2025 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time). The company will review its first quarter 2025 operating results during the call.

Investors and interested parties can access the live call by dialing +1-844-763-8274 (Canada/US toll-free) or through a webcast link available on Ballard's website. The webcast recording will be archived in the 'Earnings, Interviews & Presentations' section of the company's investor relations page.

Ballard Power Systems (NASDAQ: BLDP) reported challenging Q4 2024 results amid industry headwinds. Q4 revenue declined 48% year-over-year to $24.5 million, while full-year revenue dropped 32% to $69.7 million. Despite challenges, the Bus vertical showed strong performance with 51% revenue growth.

The company secured new net order intake of $113 million during 2024, with Q4 orders of $75.4 million, leading to a record Order Backlog of $173.5 million. Ballard achieved record shipments of over 660 fuel cell engines (56 MW) in 2024, up 30% from 2023.

Q4 gross margin improved by 9 points to (13%), though full-year margin declined to (32%). The company ended 2024 with $603.9 million in cash and initiated a global restructuring to reduce 2025 Operating Expenses by over 30%. Ballard has halted further investments in China, including the Weichai Ballard JV.

Ballard Power Systems (NASDAQ: BLDP) has secured a multi-year supply agreement with Manufacturing Commercial Vehicles (MCV), an Egyptian commercial vehicle manufacturer, for approximately 5 MW of fuel cell engines. The agreement includes 50 FCmove®-HD+ engines, with an initial order of 35 units, scheduled for delivery between 2025 and 2026 primarily for EU projects.

This deal builds upon their relationship that began in 2022 with fuel cell engine integration support. The company reported securing 1,600 bus engine orders across 7 OEMs in 2024. Currently, Ballard powers over 1,800 fuel cell buses globally, which have accumulated more than 200 million miles of operational service with a 99% availability rate and zero reported safety incidents.

Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) has announced it will host a conference call on Thursday, March 13th, 2025 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to discuss its fourth quarter and full year 2024 operating results. Participants can join via phone at +1-844-763-8274 (Canada/US toll free) or through a live webcast available on Ballard's website. The webcast will be archived in the 'Earnings, Interviews & Presentations' section of the company's investor relations page.

Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) has secured significant orders for its fuel cell engines from two bus manufacturers targeting the European and UK city bus market. The orders total over 90 fuel cell engines, representing approximately 6.4 megawatts (MW) of total rated power. Chief Commercial Officer David Mucciacciaro highlighted these orders as validation of fuel cells as a zero-emission alternative to diesel engines and confirmation of Ballard engines' capability to meet demanding city bus performance requirements.

Ballard Power Systems has signed a multi-year agreement with Stadler US to supply 8 megawatts of FCmove®-HD+ fuel cell engines for Caltrans' passenger trains. The engines will power Stadler's FLIRT H2 zero-emission trains, with Caltrans ordering 10 trains and an option for 19 more.

This collaboration follows three years of joint development, resulting in the first FRA-compliant hydrogen fuel cell powered passenger train demonstrated in the United States. The fuel cell engines offer a zero-emission alternative to diesel engines with comparable performance metrics including payload, range, reliability, and refueling times, while avoiding the need for costly overhead catenary line infrastructure.