Ballard Power Systems (NASDAQ:BLDP) Issues Quarterly Earnings Results

Posted by George Bondi on Jul 31st, 2026

Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) posted its quarterly earnings results on Friday. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03), Zacks reports. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.

Here are the key takeaways from Ballard Power Systems’ conference call:

Ballard agreed to acquire GeoPura for £275 million, expanding into hydrogen power units, hydrogen production, and energy-as-a-service. Management expects the deal to accelerate growth, broaden the addressable market, and generate approximately $25 million in annual run-rate EBITDA synergies by 2028, subject to regulatory approval and an anticipated second-half 2026 closing.
GeoPura’s integrated rental-and-fuel model is expected to provide recurring, higher-margin revenue and capture substantially more value per deployed megawatt than standalone fuel-cell engine sales. Ballard also sees expansion opportunities in North America, data centers, construction, events, and heavy-duty mobility.
Q2 revenue rose 15% year over year to $20.6 million, while gross margin improved to 20% from negative 8% and operating expenses fell 34%. Adjusted EBITDA loss narrowed to $9.8 million from $30.6 million, and operating cash usage declined to $11.4 million from $20.3 million.
Quarterly order intake exceeded $64 million, supported by transit-bus orders and a multi-year commitment for more than 150 fuel-cell modules for GeoPura. Ballard ended the quarter with more than $502 million in cash and said it has no near-term financing requirements.
Management reiterated its goal of reaching profitability by the end of 2027 but provided no specific revenue, net income, or margin guidance, citing the early stage of market development. Full-year revenue is expected to remain approximately 60% back-half weighted, with operating expenses of $65 million to $75 million and capital expenditures of $5 million to $10 million.

Ballard Power Systems Stock Down 4.3%

BLDP stock traded down $0.12 during midday trading on Friday, reaching $2.67. 7,037,918 shares of the company were exchanged, compared to its average volume of 5,993,535. The company has a market cap of $804.95 million, a price-to-earnings ratio of -9.89 and a beta of 2.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. Ballard Power Systems has a 1-year low of $1.70 and a 1-year high of $6.57. The stock’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $3.24.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Intesa Sanpaolo S.p.A. acquired a new stake in Ballard Power Systems during the 4th quarter worth $28,000. Aigen Investment Management LP purchased a new stake in Ballard Power Systems in the fourth quarter valued at $53,000. CIBC Asset Management Inc acquired a new position in Ballard Power Systems in the fourth quarter valued at $89,000. Scientech Research LLC boosted its stake in Ballard Power Systems by 162.4% in the third quarter. Scientech Research LLC now owns 35,237 shares of the technology company’s stock valued at $96,000 after acquiring an additional 21,808 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Ballard Power Systems during the fourth quarter worth about $91,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the stock a “sector perform” rating in a research report on Wednesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a report on Friday, July 17th. BMO Capital Markets raised their price target on Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a research note on Wednesday, May 6th. ATB Cormark Capital Markets lifted their price target on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a report on Wednesday, May 6th. Finally, Zacks Research raised Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.52.

Read Our Latest Research Report on Ballard Power Systems

About Ballard Power Systems

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Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.