By Adriano Marchese
Ballard Power Systems reported a narrowed loss in the fourth quarter as the hydrogen and fuel cell industry faces strong headwinds, reducing its revenue generation in the period.
The Canadian hydrogen fuel cell manufacturer on Thursday posted a loss from continuing operations of $46.5 million, or 16 cents a share, compared with a loss of $48.9 million, or 16 cents a share, in the comparable quarter a year ago.
Analysts were expecting a more narrowed loss of 12 cents a share, according to FactSet.
In the quarter, Ballard recorded $7.6 million of non-cash impairments to the value of its long-term financial investments.
Total revenue fell 48% to $24.5 million, missing analyst expectations of a decline to $27.7 million.
The decline was broad-based, with a 42% decline in its heavy-duty mobility segment revenue, and a 46% decline in the stationary unit. Emerging and other markets, its smallest segment, saw an 84% decline in revenue.
Backlog rose by 41% in the quarter, reaching $173.5 million.
Chief Executive Randy MacEwen said that 2024 was a tough year for the hydrogen and fuel cell industry.
"Amidst prolonged policy uncertainty, there was a multi-year push-out in the development of hydrogen projects and the deployment of fuel cell applications. With this backdrop, compounded by a difficult funding environment, an industry rationalization is underway," MacEwen said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 13, 2025 07:59 ET (11:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。