Ballard Power Systems (NASDAQ:BLDP), Inc. BLDP is scheduled to report third-quarter 2020 results on Nov 6.
For the third quarter, the Zacks Consensus Estimate for revenuesis pegged at $28.06million, indicating an improvement of 13.2% from the prior-year quarter’s reported number.
Further, the Zacks Consensus Estimate for the bottom line stands at a loss of 5 cents per share, indicating deterioration from a loss of 4 cents reported in the year-ago quarter.
The company’s bottom line missed the Zacks Consensus Estimate in three of the trailing four quarters, matching estimates just once. It has a negative surprise of 27.08%, on average.
Factors at Play
Ballard Power Systems’third-quarter results are likely to have benefited from strengthening momentum across its fuel cell products and services.
Moreover, growing efforts of the company toward advancement of its heavy-duty motive products are expected to have aided growth in the shipment of these products during the to-be-reported quarter.
Also, solid demand for fuel cell products in China might have contributed well to the shipment of heavy-duty motive products in the quarter under review.
Further, bolstering quoting activities across the heavy-duty motive segments of bus, commercial truck, rail and marine might have been tailwinds.
Moreover, the rising adoption of hydrogen-based backup power fuel cell stacks is expected to have driven the backup power revenues.
All these are expected to have continued aiding growth in the company’s fuel cell products and services revenues during the third quarter.
Apart from these, the company’s strong initiatives to bolster its inventory positions in key materials are anticipated to have helped countering the coronavirus-induced supply-chain disruptions in the soon-to-be-reported quarter.
However, headwinds related to the ongoing pandemic might have weighed heavily on the company’s customer orders during the quarter under review.
Additionally, a weak momentum across the technology solutions platform is likely to get reflected in Ballard Power Systems’ third-quarter results.
What Our Model Says
Our proven model does not conclusively predictanearnings beat for Ballard Power Systems this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Ballard Power Systems has an Earnings ESP of 0.00% and a Zacks Rank #3, currently.
Stocks to Consider
Here are somestocks worth considering from the same sector as our proven model shows that thesehave the right combination of elements to beat on earnings this reporting cycle.
Fair Issac Corporation FICO has an Earnings ESP of +7.68% and a Zacks Rank #1, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA Corporation (NASDAQ:NVDA) NVDA has an Earnings ESP of +1.75% and a Zacks Rank #2 at present.
CMC Materials, Inc. CCMP has an Earnings ESP of +1.45% and a Zacks Rank #2, presently.
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