Ceres Power (LON:CWR) Issues Earnings Results

Ceres Power (LON:CWR – Get Free Report) released its quarterly earnings results on Wednesday. The company reported GBX (8.58) EPS for the quarter, Digital Look Earnings reports. Ceres Power had a negative return on equity of 39.26% and a negative net margin of 145.65%.

Here are the key takeaways from Ceres Power’s conference call:

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• Contracted revenue guidance of £45 million was reiterated, with roughly half delivered in the first half and management confident of achieving the balance in the second half.
• The partner pipeline has grown across the U.S., Asia and Europe, and Ceres remains confident of signing at least one new manufacturing licensee this year.
• Existing partners are progressing toward commercial scale: Doosan secured a roughly £60 million export order, Delta is developing a second Taiwan facility, and Weichai is targeting initial production soon with an ambition of 200 megawatts.
• Ceres reported progress in reducing its cost base and R&D spending following the launch of its Endura platform, while an oversubscribed equity raise of just over £100 million strengthened the balance sheet.
• Near-term revenue remains weighted toward license fees and engineering services, while royalties are not expected to become material until partners reach larger-scale production; management also noted that licensee signing and revenue-recognition timing can be unpredictable.

Ceres Power Stock Performance

CWR traded up GBX 27.20 on Wednesday, hitting GBX 459.40. 31,649,934 shares of the company traded hands, compared to its average volume of 9,040,785. Ceres Power has a 12-month low of GBX 119 and a 12-month high of GBX 872.50. The company has a 50 day moving average of GBX 398.55 and a 200-day moving average of GBX 474.93. The company has a quick ratio of 12.18, a current ratio of 3.27 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of £982.32 million, a PE ratio of -18.74 and a beta of 3.00.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CWR. Berenberg Bank restated a “buy” rating and set a GBX 950 target price on shares of Ceres Power in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 920 price target on shares of Ceres Power in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 935.

Check Out Our Latest Stock Report on Ceres Power

About Ceres Power

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Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.

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