Ballard Power Systems (NASDAQ:BLDP) 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 (NYSE:FN) reported second-quarter fiscal 2020 adjusted earnings of $1 per share that beat the Zacks Consensus Estimate by 7.5%.
Palo Alto Networks (NYSE:PANW) 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. (NASDAQ:CCOI) 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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