Ballard Power Systems slides after Q1 revenue, gross margin shrink

Ballard Power Systems

10/05/2023 15:07

** Ballard Power Systems Inc's shares  BLDP.TO  fall 3.2% to
C$5.70
    ** Co reports Q1 revenue down 37% from last year at $13.3
mln; analysts expected $18.3 mln - Refinitiv
    ** Reports Q1 loss of 11 Canadian cents per share vs est. 13
Canadian cents per share
    ** Gross margin in the quarter stood at -42% from 1% last
year
    ** BLDP continues to see gross margin pressures into 2024,
said CEO Randy MacEwen in a statement
    ** Co says it is not providing revenue or net income (loss)
guidance for 2023
    ** Accounting for session gains, stock down 12% YTD

 (Reporting by Arshreet Singh in Bengaluru)