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Ballard (BLDP) Posts Narrower-than-Expected Loss in Q4
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Ballard Power Systems (BLDP - Free Report) reported fourth-quarter 2016 operating loss of 1 cent per share narrower than the Zacks Consensus Estimate of a loss of 2 cents.
Full-year 2016 reported loss of 13 cents were narrower than the Zacks Consensus Estimate loss of 15 cents.
Total Revenue
Ballard’s fourth-quarter revenues of $30.7 million surpassed the Zacks Consensus Estimate of $27 million by 13.7% and improved 53.5% from the year-ago tally of $20 million.
The full-year 2016 total revenue was $85.3 million up 51% from 2015 levels. Total revenue was also higher than the Zacks Consensus Estimate of $81.6 million.
Segment Details
In fourth quarter, Ballard’s Fuel Cell Products and Services contributed $19 million, while Technology Solutions contributed $10.7 million to total revenues. Both contributions were better than the year-ago period.
Ballard Power Systems, Inc. Price, Consensus and EPS Surprise
In the reported quarter, gross profit was $9.3 million up 145% from the year-ago period.
Operating expenses was $9 million, 4% higher than the year-ago quarter.
Cash operating costs were $8.1 million, a 5% increase due to higher technology and product development activities.
Financial Details
As of Dec 31, 2016, the company had a cash balance of $72.6 million, up from $40.1 million as of Dec 31, 2015.
Ballard’s cash used in operating activities in 2016 was $12.4 million compared with $19.3 million used in 2015.
Looking Ahead
Ballard has committed orders of $87 million expected for delivery in 2017, along with a significant pipeline of qualified commercial sales opportunities. The orders from China are likely to contribute significant portion of the company’s expected total revenue in 2017.
The company expects 2017 performance to be driven by the Heavy Duty Motive market and Technology Solutions business, along with the Portable Power market.
Peer Releases
AU Optronics Corp. a Zacks Rank #1 (Strong Buy) stock, reported fourth-quarter 2016 adjusted earnings of 29 cents per share compared with a loss 26 cents reported in the year-ago period. You can see the complete list of today's Zacks #1 Rank stocks here.
OSI Systems, Inc. (OSIS - Free Report) a Zacks Rank #2 (Buy) stock, reported fourth-quarter 2016 adjusted earnings of 68 cents per share, surpassing the Zacks Consensus Estimate of 59 cents per share by 15.2%.
KEMET Corporation (KEM - Free Report) a Zacks Rank #2 stock, reported fourth-quarter 2016 adjusted earnings of 10 cents per share, surpassing the Zacks Consensus Estimate of 6 cents per share by 66.7%.
Zacks Rank
Ballard Power Systems currently carries a Zacks Rank #3 (Hold).
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Ballard (BLDP) Posts Narrower-than-Expected Loss in Q4
Ballard Power Systems (BLDP - Free Report) reported fourth-quarter 2016 operating loss of 1 cent per share narrower than the Zacks Consensus Estimate of a loss of 2 cents.
Full-year 2016 reported loss of 13 cents were narrower than the Zacks Consensus Estimate loss of 15 cents.
Total Revenue
Ballard’s fourth-quarter revenues of $30.7 million surpassed the Zacks Consensus Estimate of $27 million by 13.7% and improved 53.5% from the year-ago tally of $20 million.
The full-year 2016 total revenue was $85.3 million up 51% from 2015 levels. Total revenue was also higher than the Zacks Consensus Estimate of $81.6 million.
Segment Details
In fourth quarter, Ballard’s Fuel Cell Products and Services contributed $19 million, while Technology Solutions contributed $10.7 million to total revenues. Both contributions were better than the year-ago period.
Ballard Power Systems, Inc. Price, Consensus and EPS Surprise
Ballard Power Systems, Inc. Price, Consensus and EPS Surprise | Ballard Power Systems, Inc. Quote
Highlights of the Release
In the reported quarter, gross profit was $9.3 million up 145% from the year-ago period.
Operating expenses was $9 million, 4% higher than the year-ago quarter.
Cash operating costs were $8.1 million, a 5% increase due to higher technology and product development activities.
Financial Details
As of Dec 31, 2016, the company had a cash balance of $72.6 million, up from $40.1 million as of Dec 31, 2015.
Ballard’s cash used in operating activities in 2016 was $12.4 million compared with $19.3 million used in 2015.
Looking Ahead
Ballard has committed orders of $87 million expected for delivery in 2017, along with a significant pipeline of qualified commercial sales opportunities. The orders from China are likely to contribute significant portion of the company’s expected total revenue in 2017.
The company expects 2017 performance to be driven by the Heavy Duty Motive market and Technology Solutions business, along with the Portable Power market.
Peer Releases
AU Optronics Corp. a Zacks Rank #1 (Strong Buy) stock, reported fourth-quarter 2016 adjusted earnings of 29 cents per share compared with a loss 26 cents reported in the year-ago period. You can see the complete list of today's Zacks #1 Rank stocks here.
OSI Systems, Inc. (OSIS - Free Report) a Zacks Rank #2 (Buy) stock, reported fourth-quarter 2016 adjusted earnings of 68 cents per share, surpassing the Zacks Consensus Estimate of 59 cents per share by 15.2%.
KEMET Corporation (KEM - Free Report) a Zacks Rank #2 stock, reported fourth-quarter 2016 adjusted earnings of 10 cents per share, surpassing the Zacks Consensus Estimate of 6 cents per share by 66.7%.
Zacks Rank
Ballard Power Systems currently carries a Zacks Rank #3 (Hold).
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>