Ballard Power (BLDP) Tops Q3 EPS by 1c

Ballard Power (NASDAQ: BLDP) reported Q3 EPS of ($0.03), $0.01 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $16 million versus the consensus estimate of $16.1 million.

"The quarter-over-quarter top line trajectory through Q3 is consistent with our previously stated expectation that full-year revenue will be heavily weighted towards the second half of 2015," said Randy MacEwen, President and CEO. "In Q3, we announced two major deals in China for our Heavy Duty Motive market segment. First, we announced the largest-ever global deployment of fuel cell buses, which is planned to put 300 zero-emission fuel cell transit buses onto the streets of two major cities in China. This program has an initial estimated value to Ballard of $17 million through 2016. Second, we announced a $6 million program for the development of a 200 kilowatt fuel cell engine for integration into low floor trams manufactured by CRRC Sifang."

Mr. MacEwen continued, "In addition, on October 1st, we announced the closing of our acquisition of Protonex. The acquisition of Protonex – just as Protonex is reaching an expected bend in its growth curve – coupled with our growing sales order book and pipeline in the Heavy Duty Motive market, are supporting a favorable foundation for 2016."

For earnings history and earnings-related data on Ballard Power (BLDP) click here.

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