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Ballard Power Systems Earnings Calls
| Release date | May 05, 2026 |
| EPS estimate | -$0.0600 |
| EPS actual | -$0.0400 |
| EPS Surprise | 33.33% |
| Revenue estimate | 19.879M |
| Revenue actual | 18.994M |
| Revenue Surprise | -4.45% |
| Release date | Mar 12, 2026 |
| EPS estimate | -$0.0700 |
| EPS actual | -$0.0600 |
| EPS Surprise | 14.29% |
| Revenue estimate | 32.178M |
| Revenue actual | 33.324M |
| Revenue Surprise | 3.56% |
| Release date | Nov 13, 2025 |
| EPS estimate | -$0.110 |
| EPS actual | -$0.0900 |
| EPS Surprise | 18.18% |
| Revenue estimate | 32.092M |
| Revenue actual | 32.501M |
| Revenue Surprise | 1.27% |
| Release date | Aug 11, 2025 |
| EPS estimate | -$0.100 |
| EPS actual | -$0.0800 |
| EPS Surprise | 20.00% |
| Revenue estimate | 25.32M |
| Revenue actual | 17.842M |
| Revenue Surprise | -29.53% |
Last 4 Quarters for Ballard Power Systems
Below you can see how BLDP performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Aug 11, 2025 |
| Price on release | $1.80 |
| EPS estimate | -$0.100 |
| EPS actual | -$0.0800 |
| EPS surprise | 20.00% |
| Date | Price |
|---|---|
| Aug 05, 2025 | $1.86 |
| Aug 06, 2025 | $1.83 |
| Aug 07, 2025 | $1.85 |
| Aug 08, 2025 | $1.80 |
| Aug 11, 2025 | $1.80 |
| Aug 12, 2025 | $1.73 |
| Aug 13, 2025 | $1.87 |
| Aug 14, 2025 | $1.83 |
| Aug 15, 2025 | $2.00 |
| 4 days before | -3.23% |
| 4 days after | 11.11% |
| On release day | -3.89% |
| Change in period | 7.53% |
| Release date | Nov 13, 2025 |
| Price on release | $3.19 |
| EPS estimate | -$0.110 |
| EPS actual | -$0.0900 |
| EPS surprise | 18.18% |
| Date | Price |
|---|---|
| Nov 07, 2025 | $3.50 |
| Nov 10, 2025 | $3.56 |
| Nov 11, 2025 | $3.57 |
| Nov 12, 2025 | $3.43 |
| Nov 13, 2025 | $3.19 |
| Nov 14, 2025 | $3.03 |
| Nov 17, 2025 | $2.91 |
| Nov 18, 2025 | $2.89 |
| Nov 19, 2025 | $2.85 |
| 4 days before | -8.86% |
| 4 days after | -10.66% |
| On release day | -5.02% |
| Change in period | -18.57% |
| Release date | Mar 12, 2026 |
| Price on release | $2.42 |
| EPS estimate | -$0.0700 |
| EPS actual | -$0.0600 |
| EPS surprise | 14.29% |
| Date | Price |
|---|---|
| Mar 06, 2026 | $2.01 |
| Mar 09, 2026 | $1.99 |
| Mar 10, 2026 | $1.97 |
| Mar 11, 2026 | $2.15 |
| Mar 12, 2026 | $2.42 |
| Mar 13, 2026 | $2.39 |
| Mar 16, 2026 | $2.53 |
| Mar 17, 2026 | $2.68 |
| Mar 18, 2026 | $2.61 |
| 4 days before | 20.40% |
| 4 days after | 7.85% |
| On release day | -1.24% |
| Change in period | 29.85% |
| Release date | May 05, 2026 |
| Price on release | $4.33 |
| EPS estimate | -$0.0600 |
| EPS actual | -$0.0400 |
| EPS surprise | 33.33% |
| Date | Price |
|---|---|
| Apr 29, 2026 | $3.32 |
| Apr 30, 2026 | $3.40 |
| May 01, 2026 | $3.39 |
| May 04, 2026 | $3.29 |
| May 05, 2026 | $4.33 |
| May 06, 2026 | $4.78 |
| May 07, 2026 | $4.70 |
| May 08, 2026 | $4.13 |
| May 11, 2026 | $4.17 |
| 4 days before | 30.42% |
| 4 days after | -3.70% |
| On release day | 10.39% |
| Change in period | 25.60% |
Ballard Power Systems Earnings Call Transcript Summary of Q1 2026
Ballard reported a solid start to 2026 driven by rail and bus deliveries, with total Q1 revenue of $19.4 million (up 26% year-over-year) and a 14% gross margin — the third consecutive quarter of positive gross margin. Management emphasized progress in commercial wins (notably multi-year supply and service agreements with New Flyer, Wrightbus and Solaris for the FCmove SC engine), a strategic shift toward recurring fleet services and data-driven uptime offerings, and continued cost reduction efforts through automation and product simplification. Operations are being prioritized under new COO Ralph Robinett, with Project Forge (an automated bipolar plate line) targeted to enter full production H2 2026 to lower unit costs and improve quality. Financially, operating expenses were reduced 36% YoY to $16.4 million, cash used in operations improved to $7.8 million (vs. $24.4M prior year), adjusted EBITDA improved to negative $11.4 million, and the company ended the quarter with $516.8 million in cash with no near-term financing needs. Management reiterated no formal 2026 revenue guidance but provided ranges for operating expenses ($65M–$75M) and capex ($5M–$10M), and said revenue will be weighted to the second half of the year. Key near-term focuses: deepen OEM partnerships in buses, expand fleet services/recurring revenue, reduce costs via automation and intelligence, and execute Project Forge ramp.
