The earnings call presented a mixed sentiment with notable revenue growth and cost improvements, but sustained challenges such as negative gross margins and soft order intake. The company is focusing on markets with immediate opportunities and has a strong cash position, but faces challenges in market adoption and restructuring costs.

Company Guidance

During Ballard Power Systems' Second Quarter 2025 Earnings Call, the company provided key metrics and guidance. Total revenue for Q2 was reported at $17.8 million, marking an 11% increase year-over-year, with significant contributions from the rail sector. Gross margin improved by 24 points, reaching negative 8%, a result of cost efficiencies and reduced contract provisions. Operating expenses decreased by 12% year-over-year to $31.7 million, with cash operating costs down by 27% to $22.7 million. The company ended the quarter with $550 million in cash and no debt, positioning itself to fund operations without immediate financing needs. Ballard aims to achieve a sustainable cash flow positive business by the end of 2027, with a focus on cost reduction, innovation, and customer value delivery. The company also highlighted a restructuring plan to further reduce costs and an ongoing initiative, Project Forge, to enhance manufacturing efficiency.

Revenue Growth

Ballard Power Systems reported a revenue increase of 11% year-over-year, with growth particularly in the rail vertical.

Gross Margin Improvement

Gross margin improved by 24 points compared to Q2 of last year, reflecting cost efficiencies driven by restructuring activities and a net reduction in onerous contract provisions.

Cash Position

The company closed the quarter with $550 million in cash and cash equivalents, with no bank debt, providing confidence in funding operations and strategic initiatives without near-term financing.

New Marine Order

Ballard secured one of the largest marine orders in its history with eCap and Samskip, indicating strong performance in the marine segment.

Restructuring and Cost Reduction

Operating expenses decreased by 28% compared to Q2 of 2024, excluding initial restructuring and related charges, with a cash operating cost reduction of 27% year-over-year.

Ballard Power Systems (TSE:BLDP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:BLDP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	-0.15 / -	-0.942	―	―	―
Aug 11, 2025	2025 (Q2)	-0.13 / -0.11	-0.151	27.15% (+0.04)	―
May 06, 2025	2025 (Q1)	-0.14 / -0.10	-0.192	49.48% (+0.10)	―
Mar 13, 2025	2024 (Q4)	-0.18 / -0.23	-0.229	-0.44% (>-0.01)	―
Nov 05, 2024	2024 (Q3)	-0.17 / -0.94	-0.289	-225.95% (-0.65)	―
Aug 12, 2024	2024 (Q2)	-0.18 / -0.15	-0.134	-12.69% (-0.02)	―
May 07, 2024	2024 (Q1)	-0.19 / -0.19	-0.147	-30.61% (-0.05)	―
Mar 11, 2024	2023 (Q4)	-0.17 / -0.23	-0.165	-38.79% (-0.06)	―
Nov 07, 2023	2023 (Q3)	-0.17 / -0.29	-0.189	-52.91% (-0.10)	―
Aug 09, 2023	2023 (Q2)	-0.17 / -0.13	-0.242	44.63% (+0.11)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:BLDP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 11, 2025	C$2.50	C$2.48	-0.80%
May 06, 2025	C$1.74	C$1.68	-3.45%
Mar 13, 2025	C$1.76	C$1.82	+3.41%
Nov 05, 2024	C$2.40	C$2.29	-4.58%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Ballard Power Systems (TSE:BLDP) report earnings?

Ballard Power Systems (TSE:BLDP) is schdueled to report earning on Nov 11, 2025, Before Open (Confirmed).

What is Ballard Power Systems (TSE:BLDP) earnings time?

Ballard Power Systems (TSE:BLDP) earnings time is at Nov 11, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:BLDP EPS forecast?

TSE:BLDP EPS forecast for the fiscal quarter 2025 (Q3) is -0.16.

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