Hyzon Motors reports Q2 EPS (21c), consensus (15c)

Reports Q2 revenue $313,000, consensus $1M. “In the second quarter of 2024, we executed on several strategic initiatives, including focusing our business on the North American Class 8 and refuse markets. This decision positions us to capitalize on immediate commercial opportunities supported by continued U.S. government backing,” said Hyzon Chief Executive Officer (CEO) Parker Meeks. “Hyzon launched our 200kW Class 8 vehicle trial program in July and we expect our refuse collection vehicle trial program to start later this month, marking a critical step toward securing new multi-year commercial agreements with large fleets. Looking at the second half of 2024, we anticipate reaching SOP for our single stack 200kW fuel cell system and 200kW Class 8 fuel cell truck platform. These steps are laying the foundation to accelerate our decarbonization efforts and create long-term shareholder value.”