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Ballard Power (BLDP) to Report Q2 Earnings: What's in Store?
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Ballard Power Systems Inc. (BLDP - Free Report) is set to release second-quarter 2020 results on Aug 6. In the last reported quarter, the company delivered a negative earnings surprise of 50%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
Increasing acceptance of fuel cell products and services is reflected in strong order backlog of the company. Ballard Power exited the first quarter with order backlog of $169.5 million, which was further boosted by orders from Solaris Bus & Coach S.A. as well as U.K. Wrightbus in the second quarter.
The pandemic outbreak did not result in a major pullback of fuel cell demand. The ongoing increase of fuel cell products in the United States and Europe is likely to have boosted the company’s performance.
Expectation
The Zacks Consensus Estimate for the bottom line for the second quarter is a loss of 4 cents, which indicates a decline of 33.3% from the year-ago reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Ballard Power this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Ballard Power Systems, Inc. Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is +16.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ballard Power currently has a Zacks Rank #3.
Other Stocks to Consider
Here are a few other companies worth considering from the same sector that too have the right combination of elements to beat on earnings in the upcoming releases.
Fastly Inc. (FSLY - Free Report) is set to release second-quarter 2020 numbers on Aug 5. It has an Earnings ESP of +27.27% and carries a Zacks Rank #2.
Benefitfocus Inc. is set to release second-quarter 2020 numbers on Aug 5. It has an Earnings ESP of +6.25% and carries a Zacks Rank #2.
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Ballard Power (BLDP) to Report Q2 Earnings: What's in Store?
Ballard Power Systems Inc. (BLDP - Free Report) is set to release second-quarter 2020 results on Aug 6. In the last reported quarter, the company delivered a negative earnings surprise of 50%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
Increasing acceptance of fuel cell products and services is reflected in strong order backlog of the company. Ballard Power exited the first quarter with order backlog of $169.5 million, which was further boosted by orders from Solaris Bus & Coach S.A. as well as U.K. Wrightbus in the second quarter.
The pandemic outbreak did not result in a major pullback of fuel cell demand. The ongoing increase of fuel cell products in the United States and Europe is likely to have boosted the company’s performance.
Expectation
The Zacks Consensus Estimate for the bottom line for the second quarter is a loss of 4 cents, which indicates a decline of 33.3% from the year-ago reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Ballard Power this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Ballard Power Systems, Inc. Price and EPS Surprise
Ballard Power Systems, Inc. price-eps-surprise | Ballard Power Systems, Inc. Quote
Earnings ESP: The company’s Earnings ESP is +16.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ballard Power currently has a Zacks Rank #3.
Other Stocks to Consider
Here are a few other companies worth considering from the same sector that too have the right combination of elements to beat on earnings in the upcoming releases.
AMETEK Inc. (AME - Free Report) is set to release second-quarter 2020 numbers on Aug 4. It has an Earnings ESP of +3.96% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fastly Inc. (FSLY - Free Report) is set to release second-quarter 2020 numbers on Aug 5. It has an Earnings ESP of +27.27% and carries a Zacks Rank #2.
Benefitfocus Inc. is set to release second-quarter 2020 numbers on Aug 5. It has an Earnings ESP of +6.25% and carries a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>