Ballard Power To Report As Auto Supplier Inks Fuel-Cell Pact

Ballard Power Systems (BLDP) reports first-quarter earnings late Monday after announcing an alliance with Linamar to sell fuel cell powertrains. BLDP stock fell.


BLDP Stock, Earnings

Estimates: A loss of 5 cents per share vs. a 6 cent loss in the year-ago quarter. Revenue is seen rising 7.3% to $25.7 million.

Results: Check back after the close.

Outlook: In its Q4 report, Ballard set a 2021 capital commitment of $79.5 million. Ballard will continue to focus on heavy- and medium-duty motive applications, including bus, commercial truck, train and marine markets.

Stock: Shares fell 7.4% to close at 20.26 on the stock market today, back below the 200-day line. BLDP stock has lost more than half its value since hitting a high of 42.28 on Feb. 9, according to MarketSmith chart analysis.

Among other fuel-cell stocks, FuelCell Energy (FCEL) lost 6.4%, Plug Power (PLUG) dropped 6.6%, and Bloom Energy (BE) gave up 4.4%.

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Auto Supplier Taps Ballard

Ballard Power said it would work with Canadian automobile parts manufacturer Linamar to build fuel cell powertrains and components for passenger cars, SUVs, light trucks and commercial vans weighing up to five tons. The products initially will be marketed for North America and Europe.

“In addition to our existing joint working relationship on the recently announced UPS delivery vans trial in California, we now deepen our collaboration based on a joint vision to provide zero-emission fuel cell powertrains for light-duty vehicles, particularly those that require long range, extended duty cycle and rapid refueling,” Ballard CEO Randy MacEwen said in the release.

The Linamar pact comes after Canadian Pacific (CP) announced in March that Ballard fuel-cell modules will be used for the railroad operator’s Hydrogen Locomotive Program, an effort to build North America’s first hydrogen-powered freight locomotive.

Ballard will deliver six of its 200-kilowatt fuel-cell modules to the railroad operator this year.

Hydrogen fuel cells are gaining popularity as renewable energy investment has been on the rise globally following the enactment of the Paris Climate Agreement. Even Saudi Aramco, the world’s largest energy company, sees a huge potential for hydrogen fuel.

Follow Gillian Rich on Twitter for energy news and more.


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