Ballard Power Systems (BLDP - Free Report) reported fourth-quarter 2019 operating loss of 4 cent per share, which was in line with the Zacks Consensus Estimate.
In 2019, the company reported a loss of 16 cents that was wider than a loss of 13 cents incurred in 2018.
Total Revenues
Ballard’s fourth-quarter revenues amounted to $41.9 million, which surpassed the Zacks Consensus Estimate of $31 million by 35.2%. The top line surged 47% from the year-ago quarter’s tally of $28.5 million.
In 2019, total revenues came in at $106.3 million, up 10% from $96.6 million in 2018.
Highlights of the Release
In the reported quarter, gross margin declined 21% to $8.6 million due to a shift in revenues and product mix.
Operating expenses were $16.1 million, up 20.1% from the year-ago quarter’s tally.
Cash operating costs were $13.6 million, up 21.4% from the prior-year quarter’s figure.
Financial Details
As of Dec 31, 2019, the company had a cash balance of $147.8 million, down from $192.2 million as of Dec 31, 2018.
Cash used in operating activities in 2019 was $14.2 million compared with $31.7 million in 2018.
Outlook
Without providing any specific financial performance guidance for 2020, the company anticipates total revenues of approximately $130 million in 2020 supported by 12-month order book of $110.3 million at the end of 2019.
Moreover, the company also expects to experience supply-chain disruptions, a decline in sales activities as well as reductions in operations and workforce if the coronavirus outbreak persists.
Zacks Rank
Ballard Power Systems currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Fabrinet (FN - Free Report) reported second-quarter fiscal 2020 adjusted earnings of $1 per share that beat the Zacks Consensus Estimate by 7.5%.
Palo Alto Networks (PANW - Free Report) reported second-quarter fiscal 2020 non-GAAP earnings of $1.19 per share, which surpassed the Zacks Consensus Estimate by 6.25%.
Cogent Communications Holdings, Inc. (CCOI - Free Report) reported impressive fourth-quarter 2019 financial results, with the top and the bottom line surpassing the Zacks Consensus Estimate. The stock inched up 1.4% post the results and closed at $76.01 on Feb 27.
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Ballard Power Systems (BLDP - Free Report) reported fourth-quarter 2019 operating loss of 4 cent per share, which was in line with the Zacks Consensus Estimate.
In 2019, the company reported a loss of 16 cents that was wider than a loss of 13 cents incurred in 2018.
Total Revenues
Ballard’s fourth-quarter revenues amounted to $41.9 million, which surpassed the Zacks Consensus Estimate of $31 million by 35.2%. The top line surged 47% from the year-ago quarter’s tally of $28.5 million.
In 2019, total revenues came in at $106.3 million, up 10% from $96.6 million in 2018.
Highlights of the Release
In the reported quarter, gross margin declined 21% to $8.6 million due to a shift in revenues and product mix.
Operating expenses were $16.1 million, up 20.1% from the year-ago quarter’s tally.
Cash operating costs were $13.6 million, up 21.4% from the prior-year quarter’s figure.
Financial Details
As of Dec 31, 2019, the company had a cash balance of $147.8 million, down from $192.2 million as of Dec 31, 2018.
Cash used in operating activities in 2019 was $14.2 million compared with $31.7 million in 2018.
Outlook
Without providing any specific financial performance guidance for 2020, the company anticipates total revenues of approximately $130 million in 2020 supported by 12-month order book of $110.3 million at the end of 2019.
Moreover, the company also expects to experience supply-chain disruptions, a decline in sales activities as well as reductions in operations and workforce if the coronavirus outbreak persists.
Zacks Rank
Ballard Power Systems currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
Fabrinet (FN - Free Report) reported second-quarter fiscal 2020 adjusted earnings of $1 per share that beat the Zacks Consensus Estimate by 7.5%.
Palo Alto Networks (PANW - Free Report) reported second-quarter fiscal 2020 non-GAAP earnings of $1.19 per share, which surpassed the Zacks Consensus Estimate by 6.25%.
Cogent Communications Holdings, Inc. (CCOI - Free Report) reported impressive fourth-quarter 2019 financial results, with the top and the bottom line surpassing the Zacks Consensus Estimate. The stock inched up 1.4% post the results and closed at $76.01 on Feb 27.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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