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Ballard Power Systems (BLDP - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on July 31, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis fuel cell technology company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +50%.

Revenues are expected to be $26.97 million, up 51.2% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Ballard?For Ballard, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +30.77%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination indicates that Ballard will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Ballard would post a loss of$0.06 per share when it actually produced a loss of -$0.04, delivering a surprise of +33.33%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Ballard appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Utility - Electric Power industry, Exelon (EXC - Free Report) , is soon expected to post earnings of $0.44 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +12.8%. This quarter's revenue is expected to be $5.69 billion, up 4.8% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Exelon has been revised 3.6% down to the current level. Nevertheless, the company now has an Earnings ESP of -1.15%, reflecting a lower Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that Exelon will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Pelagos Insurance Capital Limit (PLGO - Free Report) : This insurance and reinsurance company has seen the Zacks Consensus Estimate for its current year earnings increasing 7% over the last 60 days.

Ballard Power Systems Inc. (BLDP - Free Report) : This fuel cell technology company has seen the Zacks Consensus Estimate for its current year earnings increasing 5.9% over the last 60 days.

Summit Hotel Properties, Inc. (INN - Free Report) : This real estate investment trust has seen the Zacks Consensus Estimate for its current year earnings increasing 3.8% over the last 60 days.

RF Industries, Ltd. (RFIL - Free Report) : This interconnect solutions provider has seen the Zacks Consensus Estimate for its current year earnings increasing 19% over the last 60 days.

Microbot Medical Inc. (MBOT - Free Report) : This medical device company has seen the Zacks Consensus Estimate for its current year earnings increasing 12.5% over the last 60 days.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ballard Power Systems (BLDP - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.

Ballard Power Systems is one of 111 individual stocks in the Utilities sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 25.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, BLDP has gained about 27.2% so far this year. Meanwhile, the Utilities sector has returned an average of 6.9% on a year-to-date basis. As we can see, Ballard Power Systems is performing better than its sector in the calendar year.

Another Utilities stock, which has outperformed the sector so far this year, is FirstEnergy (FE - Free Report) . The stock has returned 7.4% year-to-date.

For FirstEnergy, the consensus EPS estimate for the current year has increased 0.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, which includes 63 individual stocks and currently sits at #108 in the Zacks Industry Rank. This group has gained an average of 8.5% so far this year, so BLDP is performing better in this area. FirstEnergy is also part of the same industry.

Investors interested in the Utilities sector may want to keep a close eye on Ballard Power Systems and FirstEnergy as they attempt to continue their solid performance.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Friday, July 31st, 2026 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review second quarter 2026 operating results.

The live call can be accessed by dialing +1-833-821-2814 (Canada/US toll free). Alternatively, a live webcast can be accessed through a link on Ballard's homepage (www.ballard.com), in the 'Latest News' section or by clicking here: Q2 Webcast.

Following the call, a link to the webcast will be available in the 'Investor Hub' area of the 'Investors' section of Ballard's website (www.ballard.com/investors).

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Further Information
Sumit Kundu –Investor Relations +1.604.360.9714 or [email protected]

SOURCE Ballard Power Systems Inc.

Also from this source

Wegweisende Übernahme eines schnell wachsenden Marktführers für groß angelegte, emissionsfreie stationäre Stromversorgungslösungen auf Wasserstoffbasis Erweitert das Geschäftsmodell von Ballard um eine „Energy-as-a-Service"-Lösung mit einem gebündelten Angebot, das Wasserstoffproduktion, -verteilung, -logistik, -betankung, Brennstoffzellen und stationäre Stromerzeugung kombiniert, um höhere Umsätze pro Megawatt und ein hohes Potenzial für wiederkehrende Umsätze zu erzielen Baut auf einer langjährigen und bewährten Partnerschaft mit GeoPura auf, in deren Rahmen Ballard Brennstoffzellenmotoren für die Wasserstoff-Kraftwerke von GeoPura liefert Erweitert den adressierbaren Markt auf wachstumsstarke Endmärkte auf kapitaleffiziente Weise, gestützt durch eine gesicherte Wasserstoffversorgung und die Unterstützung durch die Regierungspolitik Hält Ballards Kurs zur Rentabilität bis 2028 aufrecht und erschließt Synergien im Bereich des jährlichen EBITDA in Höhe von 25 Millionen US-Dollar , /PRNewswire/ -- Ballard Power Systems Inc. (NASDAQ: BLDP) (TSX: BLDP) („Ballard", das „Unternehmen"), ein weltweit führender Anbieter von Wasserstoff-Brennstoffzellentechnologie, gab heute bekannt, dass es eine endgültige Vereinbarung (die „Vereinbarung") über den Erwerb von GeoPura Limited („GeoPura"), einem Anbieter emissionsfreier, wasserstoffbasierter Energielösungen, geschlossen hat (die „Transaktion"). Die Transaktion umfasst einen Vorab-Kaufpreis in Höhe von 275,0 Millionen Pfund („Vorauszahlung"), der durch eine Kombination aus 82,5 Millionen Pfund aus den Barreserven von Ballard und der Ausgabe von ca. 50,8 Millionen Ballard-Stammaktien an die GeoPura-Aktionäre zu einem Preis von 5,02 US-Dollar pro Aktie finanziert wird, basierend auf dem volumengewichteten Durchschnittskurs der Ballard-Aktie der letzten 30 Tage. Zusätzlich zur Vorabzahlung wird Ballard eine bedingte Gegenleistung von bis zu 27,5 Millionen Pfund zahlen, sofern GeoPura nach Abschluss der Transaktion bestimmte festgelegte finanzielle Meilensteine erreicht. Der gesamte Unternehmenswert1 der Transaktion, einschließlich der Übernahme der Nettoverschuldung von GeoPura und ohne Berücksichtigung der bedingten Gegenleistung, beträgt 301,1 Millionen Pfund (~400 Millionen US-Dollar).

GeoPura CEO Andrew Cunningham (left) and CTO Theo Elmer (right) in front of an HPU-2 500kW system containing Ballard Fuel Cell Engines.

Ballard Power Systems Inc. Die Transaktion stellt eine transformative Übernahme dar, die Ballard als vertikal integrierten und kapitaleffizienten „Energy-as-a-Service" („EaaS")-Anbieter etabliert, dessen End-to-End-Kompetenzen die Bereiche Wasserstoffproduktion, -verteilung, -logistik, -betankung, Brennstoffzellen sowie stationäre Hochleistungsstromversorgungslösungen umfassen.

GeoPura wurde 2019 gegründet und hat seinen Hauptsitz im Vereinigten Königreich. Das Unternehmen hat ein schnell wachsendes Geschäft aufgebaut, dessen Schwerpunkt auf der Entwicklung, dem Leasing und dem Verkauf von Wasserstoff-Stromversorgungsanlagen („HPUs") sowie von Wasserstoff als Brennstoff liegt, der über seine drei Produktionsstandorte geliefert wird, darunter eine 50-prozentige Beteiligung an dem im Vereinigten Königreich ansässigen Unternehmen HyMarnham Power. Das kombinierte Angebot aus HPUs und Wasserstoff bietet eine wettbewerbsfähige, netzunabhängige Stromversorgungslösung mit hoher Zuverlässigkeit, sofortiger Reaktionsfähigkeit, geringem Geräuschpegel und null Emissionen für eine Vielzahl von Endmärkten. Zum breiten Kundenstamm von GeoPura zählen unter anderem Aggreko, Balfour Beatty, die BBC, Disney, Equinix, Microsoft, Netflix, Sunbelt Rentals sowie das britische Verteidigungsministerium.

Die Transaktion baut auf einer bewährten Partnerschaft zwischen Ballard und GeoPura sowie einer starken strategischen Ausrichtung auf. Die in Großbritannien entwickelte Technologie und die britische Fertigung von GeoPura ergänzen Ballards kanadisches Fachwissen im Bereich Brennstoffzellen und schaffen so eine Plattform, die auf gemeinsamen Werten, einer gemeinsamen Geschichte und dem Engagement für zuverlässige, emissionsfreie Energie basiert. Diese kanadisch-britische Kombination unterstützt die globale Expansion, indem sie das Wasserstoff-Ökosystem von GeoPura mit der erstklassigen Brennstoffzellenplattform von Ballard verbindet, um ein gebündeltes Kundenangebot bereitzustellen und erhebliche Effizienzsteigerungen für bestehende und zukünftige Kunden zu ermöglichen.

STELLUNGNAHME DER GESCHÄFTSFÜHRUNG 

Marty Neese, Präsident und Chief Executive Officer von Ballard, kommentierte: „Dies ist eine wahrhaft transformative Übernahme, die Ballard als führenden, vollintegrierten Anbieter eines Wasserstoff-Ökosystems etabliert und uns in die Lage versetzt, von der sich beschleunigenden globalen Energiewende und der steigenden Nachfrage nach Energiesicherheit zu profitieren. Das außergewöhnliche Team von GeoPura hat ein erstklassiges Geschäft für Wasserstoff-Energieversorgungslösungen mit zuverlässiger Technologie, erstklassigen Kundenbeziehungen und einer attraktiven Wachstumskurve aufgebaut. Durch die Kombination der erstklassigen Brennstoffzellentechnologie von Ballard mit dem ‚Energy-as-a-Service'-Geschäftsmodell von GeoPura schaffen wir ein Unternehmen, das gut positioniert ist, um Endmärkte zu bedienen, die sichere, zuverlässige, geräuscharme und emissionsfreie Energie für ihre geschäftskritischen Anwendungen benötigen. Diese Übernahme beschleunigt unser Umsatzwachstum erheblich, verlagert unser Geschäft hin zu wiederkehrenden, margenstarken Umsätzen und stärkt unseren Weg zur Rentabilität bis 2028. Wir freuen uns sehr, das GeoPura-Team bei Ballard willkommen zu heißen und die vor uns liegenden bedeutenden Chancen zu nutzen."

Andrew Cunningham, Gründer und Chief Executive Officer von GeoPura, kommentierte: „Wenn Ihre Arbeit Film- und Live-Fernsehproduktionen, Krankenhäuser, den Verteidigungssektor, kritische Infrastruktur und das Bauwesen mit zuverlässigen netzunabhängigen und netzunterstützenden Systemen versorgt, ist Ihr Antriebslieferant entscheidend für Ihren Erfolg. Für GeoPura hat sich Ballard deutlich von der Konkurrenz abgehoben. Sie sind der einzige Partner, der die von uns benötigten Brennstoffzellen-Kompetenzen liefern kann, gestützt durch das fundierte technische Know-how, das erforderlich ist, um unübertroffene Produktqualität von Kilowatt bis Megawatt zu gewährleisten. Ich freue mich unglaublich darauf, die Hochleistungskompetenzen von GeoPura mit der Produktqualität von Ballard zu verbinden, um Kunden weltweit den größtmöglichen Nutzen aus unserem vollständig integrierten ‚Energy-as-a-Service'-Angebot zu bieten."

Der Vorsitzende von GeoPura, Lord Richard Harrington, ehemaliger Minister für Wirtschaft und Industrie und Vorsitzender von Make UK, sagte: „Die Investition von Ballard spiegelt das Vertrauen des Unternehmens in ein britisches Fertigungsunternehmen wider, das britische Technologie nutzt, die nun in die ganze Welt exportiert wird. Ich bin begeistert von den globalen Expansionsplänen des Unternehmens und freue mich darauf, es auf diesem Weg zu unterstützen."

ÜBERZEUGENDE STRATEGISCHE GRÜNDE

Aufbau eines Ökosystems mit einem gebündelten Angebot: Durch die Kombination der Brennstoffzellentechnologie von Ballard mit den integrierten Kompetenzen von GeoPura in den Bereichen Wasserstoffproduktion, Logistik und stationäre Stromversorgung maximiert das Unternehmen den Umsatz pro Megawatt über mehrere Kundenkontaktpunkte hinweg. Dies führt zu einer deutlichen Steigerung des über die gesamte Lebensdauer erzielten Werts pro eingesetztem Megawatt. Zugang zum Markt für stationäre Stromversorgung mit bewährtem Produktportfolio: Dies ebnet Ballards Einstieg in den wachstumsstarken Markt für stationäre Stromversorgung mit einer sofort einsetzbaren und bewährten Produktpalette an Wasserstoff-Stromaggregaten, die eine Zuverlässigkeit von „sechs Neunen" (99,9999 % Verfügbarkeit) bieten und über einen gut etablierten Kundenstamm verfügen. Die HPUs von GeoPura kommen in den Bereichen Bauwesen, Film und Fernsehen, Veranstaltungen, Transport, Gesundheitswesen, Verteidigung und potenziell auch in den schnell wachsenden Rechenzentrumsanwendungen zum Einsatz, wodurch Ballard in die Lage versetzt wird, diese wachsenden Märkte weltweit zu erschließen. Beschleunigung von Wachstum und Rentabilität: Das Geschäftsmodell von GeoPura generiert wiederkehrende Umsätze aus dem Leasing von HPUs inklusive Wasserstoffversorgung und Logistik sowie aus dem Verkauf von HPUs und Wasserstoff. GeoPura erwartet für 2026 einen Umsatz von etwa 38 Millionen Pfund. Zusammen mit Ballard formen der große adressierbare Gesamtmarkt und die langfristigen positiven Rahmenbedingungen das Finanzprofil von Ballard neu zu einem EaaS-Betreiber mit beschleunigtem Wachstum und einem klareren Weg zu Ballards Rentabilitätsziel für 2028. Erschließung des Wachstums des gesamten adressierbaren Marktes durch ein förderliches politisches Umfeld: Die stationäre Energieplattform von GeoPura erweitert den adressierbaren Markt von Ballard über den Mobilitätsbereich hinaus in wachstumsstarke Endmärkte, in denen HPUs als systemkritische Energieinfrastruktur dienen. GeoPura verfügt zudem über den ersten Vertrag der britischen Regierung im Rahmen der „Hydrogen Allocation Round 1" (HAR1), einem Fördermechanismus, der über einen Zeitraum von fünfzehn Jahren Einnahmen aus der Wasserstoffproduktion garantiert und somit eine erhebliche Umsatzvorhersehbarkeit bietet. Diese politische Unterstützung, kombiniert mit GeoPuras 50-prozentiger Beteiligung an der Wasserstoffproduktionsanlage HyMarnham und deren kapitaleffizienter Erweiterungskapazität, versetzt Ballard in die einzigartige Lage, seine Marktreichweite auszubauen und von den weltweit beschleunigten Dekarbonisierungsvorgaben sowie dem Bedarf an kritischer Energie zu profitieren. Starke Synergieeffekte: Die langjährige Technologiepartnerschaft zwischen Ballard und GeoPura bildet ein bewährtes Fundament für das weitere Wachstum des Unternehmens und die Integration der beiden sich hervorragend ergänzenden Teams. Ballard wird strukturelle Kostenvorteile erzielen, die die Wettbewerbsposition stärken und außerdem die Nachfrage in den HPU-Endmärkten ankurbeln. Es wurden EBITDA-Synergien in Höhe von rund 25 Millionen US-Dollar ermittelt, die mit hoher Sicherheit erzielt werden können und auf Umsatzwachstum sowie Kostenoptimierung beruhen. Das erfahrene Managementteam von GeoPura stärkt die Umsetzung und beschleunigt die Wertrealisierung. TRANSAKTIONSBEDINGUNGEN UND FINANZIERUNGSDETAILS

Gemäß den Bedingungen der Vereinbarung wird Ballard 100 % von GeoPura, einschließlich der 50-prozentigen Beteiligung von GeoPura an HyMarnham Power, für eine Gesamtvorauszahlung in Höhe von 275,0 Millionen Pfund erwerben. Die Vorauszahlung wird zu 82,5 Millionen £ aus den Barreserven von Ballard finanziert, der Restbetrag erfolgt durch die Ausgabe neuer Ballard-Stammaktien an die GeoPura-Aktionäre, wodurch die starke Bilanz von Ballard erhalten bleibt. Die Anzahl der an die GeoPura-Aktionäre auszugebenden Ballard-Aktien beläuft sich auf ca. 50,8 Millionen; diese Zahl wurde auf der Grundlage des volumengewichteten Durchschnittskurses der Ballard-Stammaktien in den 30 Tagen vor Bekanntgabe der Transaktion berechnet. Nach Abschluss der Transaktion werden die GeoPura-Aktionäre voraussichtlich auf Pro-forma-Basis ca. 14,4 % an Ballard halten. Die GeoPura-Aktionäre werden zudem übliche Lock-up-Vereinbarungen abschließen, die den Verkauf oder die Übertragung ihrer Ballard-Stammaktien für einen bestimmten Zeitraum nach Abschluss der Transaktion einschränken.

Zusätzlich zur Vorauszahlung wird Ballard eine bedingte Gegenleistung von bis zu 27,5 Millionen Pfund zahlen, sofern GeoPura nach Abschluss der Transaktion bestimmte finanzielle Meilensteine erreicht.

Der gesamte Unternehmenswert der Transaktion1, einschließlich der Übernahme der Nettoverschuldung von GeoPura und ohne Berücksichtigung der bedingten Gegenleistung, beträgt 301,1 Millionen £ (~400 Millionen US$).

WEITERE INFORMATIONEN UND ABSCHLUSS

Nach Abschluss der Transaktion wird Andrew Cunningham, Gründer und Chief Executive Officer von GeoPura, voraussichtlich die Rolle des Präsidenten von Ballard übernehmen und an Marty Neese, den Chief Executive Officer von Ballard, berichten. Darüber hinaus beabsichtigt Ballard, Andrew Cunningham und Lord Richard Harrington, den derzeitigen Vorsitzenden von GeoPura, als von den GeoPura-Aktionären benannte Kandidaten in den Vorstand aufzunehmen.

Die Transaktion wurde vom Vorstand sowohl von Ballard als auch von GeoPura einstimmig genehmigt und unterliegt den für eine Transaktion dieser Art üblichen Abschlussbedingungen, einschließlich der Anmeldung gemäß dem britischen „National Security and Investment Act" sowie der Genehmigung der TSX für die Ausgabe der Ballard-Stammaktien im Rahmen der Transaktion. Die Transaktion wird voraussichtlich in der zweiten Hälfte des Jahres 2026 abgeschlossen.

BERATER

RBC Capital Markets fungiert als exklusiver Finanzberater von Ballard. Ashurst LLP und Stikeman Elliott LLP fungieren als Rechtsberater von Ballard.

Barclays fungiert als exklusiver Finanzberater von GeoPura und Winston Taylor LLP fungiert als Rechtsberater von GeoPura.

TELEKONFERENZ UND WEBCAST

Ballard wird am 23. Juni 2026 um 11:00 Uhr ET einen Webcast veranstalten, um die Transaktion zu erörtern. Marty Neese, Präsident und Vorstandsvorsitzender von Ballard, Kate Igbalode, Senior Vice President und Finanzvorstand von Ballard, sowie Andrew Cunningham, Gründer und Vorstandsvorsitzender von GeoPura, werden im Rahmen des Webcasts eine Reded halten. Sie können an der Live-Telefonkonferenz teilnehmen, indem Sie die Nummer +1-833-821-2814 wählen (gebührenfrei in Kanada und den USA). Alternativ kann der Live-Webcast über einen Link auf der Homepage von Ballard (www.ballard.com) oder über den folgenden Link aufgerufen werden: Ankündigung einer Telefonkonferenz

Informationen zu Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) hat die Vision, Brennstoffzellenenergie für einen nachhaltigen Planeten zu liefern. Die emissionsfreien PEM-Brennstoffzellen von Ballard ermöglichen die Elektrifizierung der Mobilität, einschließlich Bussen, Lastkraftwagen, Zügen, Schiffen und stationärer Energieversorgung. Um mehr über Ballard zu erfahren, besuchen Sie bitte www.ballard.com.

Warnhinweise zu zukunftsgerichteten Informationen
Diese Pressemitteilung enthält bestimmte Informationen, die „zukunftsgerichtete Informationen" im Sinne der geltenden kanadischen Wertpapiergesetze und „zukunftsgerichtete Aussagen" im Sinne der geltenden US-amerikanischen Wertpapiergesetze darstellen können (zusammen „zukunftsgerichtete Aussagen"). Zukunftsgerichtete Aussagen lassen sich häufig, wenn auch nicht immer, an der Verwendung von Begriffen wie „könnte", „wird", „erwarten", „beabsichtigen", „planen", „schätzen", „voraussehen", „fortsetzen" und „Prognose" oder durch andere ähnliche Begriffe erkennen und können unter anderem Aussagen bezüglich der Transaktion, ihrer Bedingungen und ihres Abschlusses, der Vorteile der Transaktion für die Ballard-Aktionäre und andere Interessengruppen, der Pläne, Strategien und Ziele der Unternehmensleitung sowie der erwarteten Kosten oder Produktionsmengen umfassen. Es kann nicht garantiert werden, dass die Transaktion zu den in dieser Pressemitteilung dargelegten Bedingungen oder überhaupt abgeschlossen wird. Zukunftsgerichtete Aussagen beinhalten naturgemäß bekannte und unbekannte Risiken, Ungewissheiten und andere Faktoren, die dazu führen können, dass die tatsächlichen Ergebnisse, Leistungen und Erfolge des Unternehmens deutlich von künftigen Ergebnissen, Leistungen oder Erfolgen abweichen. Zu den relevanten Faktoren zählen unter anderem die Erteilung der erforderlichen behördlichen Genehmigungen für die Transaktion, Wechselkursschwankungen, die allgemeine Wirtschaftslage, gestiegene Kosten, politische und soziale Risiken, Änderungen des regulatorischen Rahmens, in dem das Unternehmen tätig ist oder künftig tätig sein könnte, Umweltbedingungen, die Gewinnung und Bindung von Personal sowie potenzielle Rechtsstreitigkeiten. Zukunftsgerichtete Aussagen basieren auf den nach bestem Wissen und Gewissen getroffenen Annahmen des Unternehmens und seiner Geschäftsführung hinsichtlich der finanziellen, marktbezogenen, regulatorischen und sonstigen relevanten Rahmenbedingungen, die in Zukunft bestehen und das Geschäft sowie den Betrieb des Unternehmens beeinflussen werden. Das Unternehmen gibt keine Gewähr dafür, dass sich die Annahmen, auf denen die zukunftsgerichteten Aussagen beruhen, als richtig erweisen werden oder dass die Geschäftstätigkeit oder der Betrieb des Unternehmens nicht in wesentlicher Weise durch diese oder andere Faktoren beeinträchtigt wird, die vom Unternehmen oder seiner Geschäftsführung nicht vorhergesehen wurden oder vorhersehbar sind oder die außerhalb der Kontrolle des Unternehmens liegen. Obwohl das Unternehmen versucht und versucht hat, Faktoren zu identifizieren, die dazu führen könnten, dass tatsächliche Handlungen, Ereignisse oder Ergebnisse wesentlich von den in den zukunftsgerichteten Aussagen offenbarten abweichen, kann es andere Faktoren geben, die dazu führen könnten, dass tatsächliche Ergebnisse, Leistungen, Erfolge oder Ereignisse nicht den Erwartungen, Schätzungen oder Absichten entsprechen, und viele Ereignisse liegen außerhalb der zumutbaren Kontrolle des Unternehmens. Dementsprechend werden die Leser darauf hingewiesen, sich nicht übermäßig auf zukunftsgerichtete Aussagen zu verlassen. Zukunftsgerichtete Aussagen in dieser Pressemitteilung gelten ausschließlich zum Zeitpunkt ihrer Veröffentlichung. Vorbehaltlich etwaiger fortbestehender Verpflichtungen gemäß geltendem Recht oder einschlägigen Börsenvorschriften übernimmt das Unternehmen mit der Bereitstellung dieser Informationen keine Verpflichtung, die zukunftsgerichteten Aussagen öffentlich zu aktualisieren oder zu revidieren oder über Änderungen von Ereignissen, Bedingungen oder Umständen zu informieren.

Kontaktdaten
Sumit Kundu – Investor Relations, +1.604.360.9714 oder [email protected]

1Einschließlich der Übernahme von 50 % der Verbindlichkeiten im Zusammenhang mit dem HyMarnham-Joint-Venture.

Foto - https://mma.prnewswire.com/media/2998757/Ballard_Power_Systems_Inc__BALLARD_ANNOUNCES_ACQUISITION_OF_UK_B.jpg
Foto - https://mma.prnewswire.com/media/2998756/Ballard_Power_Systems_Inc__BALLARD_ANNOUNCES_ACQUISITION_OF_UK_B.jpg

Transformative acquisition of a rapidly growing market leader of large-scale zero-emission hydrogen-based stationary power solutions  Expands Ballard's business model to include an energy-as-a-service solution with a bundled offering combining hydrogen production, distribution, logistics, refueling, fuel cells, and stationary power generation to drive higher revenue per megawatt and highly recurring revenue potential Builds upon a longstanding and proven partnership with GeoPura, where Ballard supplies fuel cell engines to GeoPura's Hydrogen Power Units Expands addressable market into high-growth end-markets in a capitally efficient manner, supported by secured hydrogen supply and government policy backing Maintains Ballard's path to profitability by 2028, unlocking US$25 million in annual run-rate EBITDA synergies , /PRNewswire/ - Ballard Power Systems Inc. (NASDAQ: BLDP) (TSX: BLDP) ("Ballard", the "Company"), a global leader in hydrogen fuel cell technology, today announced that it has entered into a definitive agreement (the "Agreement") to acquire GeoPura Limited ("GeoPura"), a zero-emission hydrogen-based power solutions provider (the "Transaction"). The Transaction consists of an upfront equity purchase price of £275.0 million ("Upfront Consideration"), funded through a combination of £82.5 million in Ballard cash on hand and the issuance of ~50.8 million Ballard common shares to GeoPura shareholders, at US$5.02 per share, based on Ballard's 30-day volume-weighted average share price. In addition to the Upfront Consideration, Ballard will pay contingent consideration of up to £27.5 million if GeoPura achieves certain specified financial milestones after closing of the Transaction. The total transaction enterprise value1, including assumption of GeoPura net debt and excluding contingent consideration, is £301.1 million (~US$400 million).

GeoPura CEO Andrew Cunningham (left) and CTO Theo Elmer (right) in front of an HPU-2 500kW system containing Ballard Fuel Cell Engines. (CNW Group/Ballard Power Systems Inc.) The Transaction represents a transformative acquisition that establishes Ballard as a vertically integrated and capitally efficient energy-as-a-service ("EaaS") provider with end-to-end capabilities spanning hydrogen production, distribution, logistics, refueling, fuel cells, and high-performance stationary power solutions.

Founded in 2019 and headquartered in the United Kingdom, GeoPura has built a rapidly growing business focused on developing, leasing and selling Hydrogen Power Units ("HPUs") and hydrogen fuel supplied through its three production sites, including a 50% ownership interest in UK-based HyMarnham Power. The combined HPU and fuel offering delivers a competitive, grid-independent power solution with high reliability, instant-on responsiveness, low noise, and zero-emissions across a variety of end-markets. GeoPura's broad customer base includes Aggreko, Balfour Beatty, BBC, Disney, Equinix, Microsoft, Netflix, Sunbelt Rentals, UK Ministry of Defence, and others.

The Transaction builds on a proven Ballard-GeoPura partnership and strong strategic alignment. GeoPura's UK-developed technology and British manufacturing complement Ballard's Canadian fuel cell expertise, creating a platform grounded in shared values, common history, and a commitment to reliable, zero-emission power. This Canadian-British combination supports global expansion by pairing GeoPura's hydrogen ecosystem with Ballard's world-class fuel cell platform to deliver a bundled customer offering and unlock meaningful efficiencies for existing and future customers.

MANAGEMENT REMARKS

Marty Neese, President and Chief Executive Officer of Ballard, commented, "This is a truly transformative acquisition that establishes Ballard as a leading, fully integrated hydrogen ecosystem provider and positions us to capitalize on the accelerating global energy transition and increasing demand for energy resilience. GeoPura's exceptional team has built a best-in-class hydrogen power solutions business with reliable technology, blue-chip customer relationships, and an attractive growth trajectory. By combining Ballard's world-class fuel cell technology with GeoPura's energy-as-a-service business model, we create a Company well-positioned to serve end-markets demanding secure, reliable, low noise, and emissions free power for their mission-critical applications. This acquisition significantly accelerates our revenue growth, shifts our business toward recurring, high-margin revenues and reinforces our path to profitability by 2028. We're excited to welcome the GeoPura team to Ballard and to execute on the significant opportunities ahead."

Andrew Cunningham, Founder and Chief Executive Officer of GeoPura, commented, "When your work powers film and live television, hospitals, defence, essential infrastructure, and construction with reliable off-grid and grid-support systems, your engine supplier is central to your success. For GeoPura, Ballard has stood head and shoulders above the rest. They are the only partner able to deliver the fuel cell capabilities we need, backed by the deep engineering expertise required to ensure unbeatable product quality from kilowatt to megawatt. I am incredibly excited to combine GeoPura's high-performance capabilities with Ballard's product excellence, giving customers worldwide the best value from our fully integrated energy-as-a-service offering."

GeoPura Chairman, Lord Richard Harrington, former Business and Industry Minister and Chair of Make UK said, "Ballard's investment reflects its confidence in a UK manufacturing business using UK technology that will now be exported around the world. I am excited by the company's global expansion plans and look forward to supporting them on this journey."

COMPELLING STRATEGIC RATIONALE

Building an Ecosystem with a Bundled Offering: By combining Ballard's fuel cell technology with GeoPura's integrated hydrogen production, logistics, and stationary power capabilities, the Company maximizes revenue per megawatt through multiple customer touchpoints. This results in a significant increase in lifetime value capture of each megawatt deployed. Access to Stationary Power Market with Proven Product Portfolio: Establishes Ballard's entry into the high-growth stationary power market with an immediately deployable and proven hydrogen genset product suite delivering "six nines" reliability (99.9999% uptime) and well-established customer base. GeoPura's HPUs serve construction, film and television, events, transportation, healthcare, defence, and potentially the rapidly expanding data centre applications, positioning Ballard to capture these growing markets globally. Accelerating Growth and Profitability: GeoPura's business model generates recurring revenues from HPU leasing with hydrogen supply and logistics, alongside HPU and hydrogen sales. GeoPura expects 2026 revenue to be approximately £38 million. Together with Ballard, the large total addressable market and secular tailwinds reshape Ballard's financial profile into an EaaS operator with accelerated growth and a clearer pathway to Ballard's 2028 profitability target. Unlocking Total Addressable Market Growth with Supportive Policy Environment: GeoPura's stationary power platform expands Ballard's addressable market beyond mobility and into high-growth end-markets where HPUs serve as mission-critical power infrastructure. GeoPura also holds the UK government's inaugural Hydrogen Allocation Round 1 (HAR1) contract, a subsidy mechanism guaranteeing hydrogen production revenues over fifteen years, providing substantial revenue visibility. This policy support, combined with GeoPura's 50% ownership of the HyMarnham hydrogen production facility and its capitally efficient expansion capacity, uniquely positions Ballard to expand its market reach and capitalize on accelerating decarbonization mandates and critical power demands globally. Highly Synergistic: The longstanding Ballard-GeoPura technology partnership provides a proven foundation upon which to grow the business and integrate the two highly complementary teams. Ballard will achieve structural cost advantages that enhance competitive positioning while creating demand pull-through within HPU end-markets. Approximately US$25 million in high-confidence run-rate EBITDA synergies have been identified, driven by revenue expansion and cost optimization. GeoPura's experienced management team strengthens execution and accelerates value realization. TRANSACTION TERMS AND FINANCING DETAILS

Under the terms of the Agreement, Ballard will acquire 100% of GeoPura, including GeoPura's 50% ownership in HyMarnham Power, for total Upfront Consideration of £275.0 million. The Upfront Consideration will be funded with £82.5 million in Ballard cash on hand, with the remainder to be funded through newly issued Ballard common shares provided to GeoPura shareholders, thereby maintaining Ballard's strong balance sheet. The number of Ballard shares to be issued to GeoPura shareholders is ~50.8 million, calculated based on a 30-day volume-weighted average price of Ballard common shares preceding announcement of the Transaction. Upon closing of the Transaction, GeoPura shareholders are expected to own approximately 14.4% of Ballard on a pro-forma basis. GeoPura shareholders will also enter into customary lock-up agreements restricting the sale or transfer of their Ballard common shares for a specified period following the closing of the Transaction.

In addition to the Upfront Consideration, Ballard will pay contingent consideration of up to £27.5 million if GeoPura achieves certain financial milestones after closing of the Transaction.

The total transaction enterprise value1, including assumption of GeoPura net debt and excluding contingent consideration, is £301.1 million (~US$400 million).

ADDITIONAL DETAILS AND CLOSING

Following completion of the Transaction, GeoPura's Founder and Chief Executive Officer, Andrew Cunningham, is expected to assume the role of President of Ballard, reporting to Marty Neese, as Ballard's Chief Executive Officer. Additionally, Ballard expects to include Andrew Cunningham and Lord Richard Harrington, current Chairman of GeoPura, as nominees to its Board of Directors, designated by GeoPura shareholders.

The Transaction has been unanimously approved by the Board of Directors of both Ballard and GeoPura and is subject to customary closing conditions for a transaction of this nature, including UK National Security and Investment Act filing and the approval of the TSX for the issuance of the Ballard common shares pursuant to the Transaction. The Transaction is expected to close in the second half of 2026.

ADVISORS

RBC Capital Markets is serving as exclusive financial advisor to Ballard. Ashurst LLP and Stikeman Elliott LLP are serving as legal counsel to Ballard.

Barclays is serving as exclusive financial advisor to GeoPura and Winston Taylor LLP is serving as legal counsel to GeoPura.

CONFERENCE CALL AND WEBCAST

Ballard will host a webcast June 23, 2026 at 11:00am E.T. to discuss the Transaction. Marty Neese, President and Chief Executive Officer of Ballard, Kate Igbalode, Senior Vice President and Chief Financial Officer of Ballard, and Andrew Cunningham, Founder and Chief Executive Officer of GeoPura, will present on the webcast. The live call can be accessed by dialing +1-833-821-2814 (Canada/US toll free). Alternatively, a live webcast can be accessed through a link on Ballard's homepage (www.ballard.com) or the following link: Announcement Conference Call

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Cautionary Statements Regarding Forward-Looking Information
This press release contains certain information that may constitute "forward-looking information" within the meaning of applicable Canadian Securities laws and "forward-looking statements" within the meaning of applicable U.S. securities laws (together, "forward-looking statements"). Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding the Transaction, its terms and completion thereof, the benefits of the Transaction to Ballard shareholders and other stakeholders, plans, strategies and objectives of management and expected costs or production outputs. There can be no assurances that the Transaction will be completed on the terms set out in this press release or at all. Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, receipt of necessary regulatory approvals of the Transaction, foreign exchange rate fluctuations, general economic conditions, increased costs, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions, recruitment and retention of personnel and potential litigation. Forward-looking statements are based on the Company's and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward-looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or its management or beyond the Company's control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements in this press release speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances.

Contact Information
Sumit Kundu – Investor Relations, +1.604.360.9714 or [email protected]

1Including assumption of 50% of the debt associated with the HyMarnham joint venture.

SOURCE Ballard Power Systems Inc.

, /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced an order totaling 15 megawatts (MW) of fuel cell systems for stationary applications from a company specializing in renewable off-grid power generation ("the Customer").

The order, comprising 150 FCmove®-HD+ 100 kW fuel cell modules, marks the second order of this scale from the Customer, following a similar order placed in 2024. Deliveries are expected to start in the second half of 2026 an will be used in hydrogen gensets for applications ranging from live events, construction, and movie sets, to critical infrastructure.  

"This order reflects continued market adoption of zero-emission fuel cell solutions for off-grid stationary power applications and a positive endorsement from our partner on the ability of the FCmove®-HD+ module to provide quiet, clean, economical and reliable low-carbon power wherever and whenever it is needed." said Marty Neese, Ballard's Chief Executive Officer. He continued, "When paired with Ballard's integrated service offerings, including predictive maintenance and performance optimization, we are able to fully support our customer in providing clean, reliable hydrogen power solutions." 

Ballard's stationary fuel cells, ranging from 100 kW to multi-megawatt configurations, have been deployed globally across a range of applications, including EV charging and off-grid power generation. These systems provide a scalable, zero-emission, and low-noise alternative to conventional diesel generation, supporting prime, peak, and backup power requirements across diverse off-grid use cases.

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated product and service attributes, market applications, product deliveries and deployments. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

Further Information
Sumit Kundu – Investor Relations, +1.604.360.9714 or [email protected]

SOURCE Ballard Power Systems Inc.

Posted by Defense World Staff on Apr 8th, 2026

JPMorgan Chase & Co. boosted its position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP – Free Report) (TSE:BLD) by 45.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 692,201 shares of the technology company’s stock after purchasing an additional 215,954 shares during the quarter. JPMorgan Chase & Co. owned about 0.23% of Ballard Power Systems worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in Ballard Power Systems by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock worth $36,486,000 after purchasing an additional 326,505 shares during the period. Two Sigma Investments LP increased its holdings in Ballard Power Systems by 11.7% during the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after purchasing an additional 657,107 shares during the period. Goldman Sachs Group Inc. increased its holdings in Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Ballard Power Systems by 1.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 2,766,262 shares of the technology company’s stock worth $7,580,000 after purchasing an additional 45,379 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Ballard Power Systems by 43.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,345,177 shares of the technology company’s stock worth $6,379,000 after purchasing an additional 714,647 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Down 5.1% Ballard Power Systems stock opened at $2.40 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.86 and a quick ratio of 9.14. The stock has a market capitalization of $721.90 million, a price-to-earnings ratio of -8.00 and a beta of 1.68. Ballard Power Systems, Inc. has a 1-year low of $1.00 and a 1-year high of $4.10. The business has a fifty day moving average price of $2.28 and a 200-day moving average price of $2.74.

Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) last posted its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $33.28 million during the quarter, compared to analysts’ expectations of $32.24 million. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%. Equities research analysts forecast that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets Several research analysts have commented on the company. TD Cowen upgraded Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, January 9th. TD Securities upgraded Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their target price on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $2.48.

Read Our Latest Stock Report on BLDP

Ballard Power Systems Company Profile (Free Report)

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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, /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the first quarter ended March 31, 2026. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).

Highlights (comparisons are to Q1 2025):

Revenue of $19.4 million, up 26% year over year ("YoY").   14% gross margin a 37-point improvement from Q1 2025. 36% reductions in Total Operating Expenses2. Q1 ended with $516.8 million in cash and cash equivalents. Positive momentum in bus market with New Flyer commercial agreement and strong traction with European OEM's "In Q1, we made continued progress toward positive cash flow. Quarterly revenue grew 26% year over year, driven by increased engine shipments during the period. Disciplined cost management also contributed to an improvement in gross margins, which rose to 14%," said Marty Neese, Ballard's President and CEO. "These results build on the momentum established in 2025 and reinforce that we are on the right path."

"We continue to see strong momentum in the fuel cell bus market, supported by increasing long-term customer commitments. New Flyer's multi-year 50 MW agreement highlights accelerating fleet adoption in North America. In the U.K. and E.U., we are seeing strong traction with two additional bus OEMs that are advancing next‑generation hydrogen bus platforms powered by our FCmove®‑SC engine. They recognize the benefit of the FCmove®-SC engine to lower total cost of ownership through higher power density, enhanced durability, and simplified installation and maintenance. Together, these advancements support improved customer economics and position us for stronger margin performance over time," added Mr. Neese.

Mr. Neese continued, "Ballard maintains a leading position in the North American and European fuel cell bus markets, built on sustained commercial execution and technical leadership. Our engines have surpassed 300 million kilometers of real-world fleet operation, underscoring their durability and reliability in demanding applications."

He concluded, "We ended Q1 with $516.8 million in cash and no near- or mid-term financing requirements, providing a strong foundation to execute our strategy. This financial strength enables us to continue investing in product maturity, cost reduction, and customer success—key drivers of scalable growth and long-term value creation in hydrogen mobility."

Q1 2026 Financial Highlights
(all comparisons are to Q1 2025 unless otherwise noted)

Total revenue was $19.4 million in the quarter, representing 26 % year‑over‑year growth, reflecting continued momentum across multiple end‑markets. Bus revenue was $6.8 million, down 46% from Q1 2025, while Rail revenue increased to $5.1 million, a 4472% increase YoY. Stationary revenue increased to $5.2 million, up 775% YoY, while Other Markets revenue grew to $2.4 million, up 6% YoY. Gross margin was 14% in the quarter, an improvement of 37-points. Total Operating Expenses2 were $16.4 million, a decrease of 36%. Total Cash Used by Operating Activities was $7.8 million, compared to $24.4 million in the prior year, an improvement of 68 % YoY. Cash and cash equivalents were $516.8 million at the end of Q1 2026, compared to $576.7 million in the prior year. Adjusted EBITDA1 was ($11.4) million, compared to ($27.5) million in Q1 2025. The improvement in Adjusted EBITDA was driven primarily by margin and operating cost improvements. Order Backlog at the end of Q1 2026 was $112.9 million, a decrease of 5% compared to the end of Q4 2025. The 12-month Orderbook was $52.8 million at end of Q1, a decrease of $1.1 million or 2% from the end of Q4 2025. Order Backlog ($M)

Order Backlog at End-Q4 2025

Orders Received in Q1 2026

Orders Delivered in Q1 2026

Order Backlog at End-Q1 2026

Total Fuel Cell Products & Services

$119.3

$12.9

$19.4

$112.9

2026 Outlook

Consistent with our past practice, and in view of the early stage of hydrogen fuel cell market development, specific revenue and net income (loss) guidance for 2026 is not provided. We expect revenue in 2026 will be back-half weighted. Total Operating Expense2 and Capital Expenditure3 guidance ranges for 2026 are as noted below. We continue to review and consider various options to reduce our operating cost structure and capital spend, which may result in revisions to our guidance ranges at a future date.

2026

Guidance

Total Operating Expense2

$65 - $75 million

Capital Expenditure3

$5 - $10 million

Q1 2026 Financial Summary

(Millions of U.S. dollars)

Three months ended March 31

2026

2025

% Change

REVENUE

Fuel Cell Products & Services:4

Bus

6.8

$12.5

(46 %)

Rail

5.1

$0.1

4472 %

Stationary

5.2

$0.6

775 %

Other Markets

2.4

$2.2

6 %

Total Fuel Cell Products & Services Revenue

19.4

$15.4

26 %

PROFITABILITY

Gross Margin $

$2.8

($3.6)

177 %

Gross Margin %

14 %

(23 %)

37pts

Total Operating Expenses2

16.4

$25.5

(36 %)

Equity loss in JV & Associates

-

($0.8)

0 %

Adjusted EBITDA1

($11.4)

($27.5)

59 %

Net Loss from Continuing Operations4

($11.4)

($21.0)

46 %

Loss Per Share from Continuing Operations4

($0.04)

($0.07)

46 %

CASH

Cash provided by (used in) Operating Activities:

Cash Operating Loss

($7.8)

($21.7)

64 %

Working Capital Changes

($0.0)

($2.7)

101 %

Cash used by Operating Activities

($7.8)

($24.4)

68 %

Cash and cash equivalents

$516.8

$576.7

(10 %)

For a more detailed discussion of Ballard Power Systems' first quarter 2026 results, please see the company's financial statements and management's discussion & analysis, which are available at www.ballard.com/investors, www.sedarplus.ca and www.sec.gov/edgar.shtml.

Conference Call
Ballard will hold a conference call on Tuesday May 5, 2026 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review first quarter 2026 operating results. The live call can be accessed by dialing +1-844-763-8274 (Canada/US toll free). Alternatively, a live audio and webcast can be accessed through a link on Ballard's homepage (www.ballard.com). Following the call, the audio webcast and presentation materials will be archived in the 'Earnings, Interviews & Presentations' area of the 'Investors' section of Ballard's website (www.ballard.com/investors).

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero- emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Important Cautions Regarding Forward-Looking Statements
Some of the statements contained in this release are forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws, such as statements concerning the markets for our products, Order Backlog, expected revenues, gross margins, operating expenses, capital expenditures, corporate development activities, and impacts of investments in manufacturing and R&D capabilities and cost reduction initiatives. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature inherently involve unknown risks, uncertainties, assumptions and other factors well beyond Ballard's ability to control or predict. Actual events, results and developments may differ materially from those contemplated by such forward-looking statements. Any such statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, market demand and financing needs. For a detailed discussion of the factors and assumptions that these statements are based upon, and factors that could cause our actual results or outcomes to differ materially, please refer to Ballard's most recent management discussion & analysis. Other risks and uncertainties that may cause Ballard's actual results to be materially different include general economic and regulatory changes, detrimental reliance on third parties, level of achievement of our business plans, achieving and sustaining profitability, changes that affect how long our cash reserves will last and the timing of, and ability to obtain, required regulatory approvals. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. These forward-looking statements represent Ballard's views as of the date of this release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. These forward-looking statements are provided to enable external stakeholders to understand Ballard's expectations as at the date of this release and may not be appropriate for other purposes. Readers should not place undue reliance on these statements and Ballard assumes no obligation to update or release any revisions to them, other than as required under applicable legislation.

Further Information
Sumit Kundu –Investor Relations +1.604.453.3517 or [email protected]

Endnotes

_______________________________________________

1 EBITDA and Adjusted EBITDA are non-GAAP measures. We believe these measures are useful in evaluating the operating performance of the Company's ongoing business. These measures should be considered in addition to, and not as a substitute for, operating expenses, net income, cash flows and other measures of financial performance and liquidity reported in accordance with GAAP. These non-GAAP measures do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies.  See the reconciliation of EDITDA and Adjusted EBITDA to the most directly comparable GAAP measure in Section 10 "Supplemental Non-GAAP Measures and Reconciliations" in our Management's Discussion and Analysis for the three months ended March 31, 2026. Adjusted EBITDA adjusts EBITDA for stock-based compensation expense, transactional gains and losses, finance and other income, asset impairment charges, and the impact of unrealized gains and losses on foreign exchange contracts.

2 Total Operating Expenses refer to the measure reported in accordance with IFRS.

3 Capital Expenditure is defined as Additions to property, plant and equipment and Investment in other intangible assets as disclosed in the Consolidated Statements of Cash Flows.

4 We report our results in the single operating segment of Fuel Cell Products and Services. Our Fuel Cell Products and Services segment consists of the sale of PEM fuel cell products and services for a variety of applications including bus and rail applications, Stationary Power, and Other Markets (consisting of truck, marine, material handling, off-road, and other applications). Revenues from the delivery of Services, including technology solutions, after sales services and training, are included in each of the respective markets.

SOURCE Ballard Power Systems Inc.

Ballard Power Systems Inc. (BLDP:CA) Q1 2026 Earnings Call Transcript

From a technical perspective, Ballard Power Systems, Inc. (BLDP - Free Report) is looking like an interesting pick, as it just reached a key level of support. BLDP's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving averages being the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

Golden crosses have three key stages that investors look out for. It starts with a downtrend in a stock's price that eventually bottoms out, followed by the stock's shorter moving average crossing over its longer moving average and triggering a trend reversal. The final stage is when a stock continues the upward climb to higher prices.

This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.

Over the past four weeks, BLDP has gained 80.4%. The company currently sits at a #3 (Hold) on the Zacks Rank, also indicating that the stock could be poised for a breakout.

Looking at BLDP's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 2 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.

Investors may want to watch BLDP for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

, /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced that Wrightbus (https://wrightbus.com/), a leading UK‑based bus manufacturer and long‑standing Ballard partner, has formally nominated Ballard as the fuel cell supplier for its next‑generation StreetDeck Hydroliner Gen 3.0 hydrogen bus platform.

This nomination covers the integration of Ballard's FCmove®‑SC hydrogen fuel cell engine--Ballard's newest, high‑efficiency platform launched in late 2025--into Wrightbus' Gen 3.0 double‑decker FCEV bus, with series production scheduled to begin in 2027.

The FCmove®‑SC engine delivers higher efficiency, extended durability, and a simplified system architecture designed to reduce total cost of ownership (TCO) for transit operators. These improvements are particularly impactful for long‑range, high‑utilization duty cycles where hydrogen fuel cell buses offer operational advantages over battery‑electric alternatives.

"Wrightbus' nomination of Ballard for the StreetDeck Hydroliner Gen 3.0 platform represents a major milestone for our next‑generation FCmove®‑SC engine," said Oben Uluc, Vice President, Sales & Marketing at Ballard. "This decision reflects our decades‑long collaboration and Wrightbus' confidence in Ballard's ability to deliver performance, reliability, and lifecycle economics at scale. The FCmove®‑SC was made for the mature bus market, and OEM nominations like this validate the value proposition for customers."

"Our Gen 3.0 hydrogen bus has been in development for some time, ready for launch next year, and we are looking for partners who can help generate greater efficiency, improved lifecycle economics, and robust performance for demanding transit operations. Our next generation hydrogen bus is all about creating a TCO that is comparable to battery-electric and there are plenty of examples where electric doesn't provide the range needed for efficient daily operation or where the cost of infrastructure is prohibitive," said Wrightbus' Chief Procurement Officer Paul King.

Mr. King concluded, "We are delighted to be able to extend our partnership with Ballard, using their next generation fuel cells, as we accelerate the rollout of hydrogen mobility across our key markets."

Today, Ballard‑powered fleets have grown to more than 2,200 fuel cell buses worldwide, collectively logging over 300 million kilometers with 98% availability and zero reported safety incidents. Through Ballard Fleet Services, including training, technical support, parts supply, operational monitoring, digital insights, and ongoing stack servicing, Ballard and its customers unlock additional value that strengthens fleet performance and supports long‑term operational success.

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

About Wrightbus
Wrightbus is a UK‑based leader in zero‑emission transportation, recognized for pioneering the world's first hydrogen‑powered double‑deck bus and advancing next‑generation battery‑electric and hydrogen mobility solutions. With a legacy of innovation dating back to 1946, Wrightbus designs and manufactures high‑efficiency buses that support global transit agencies in reducing emissions and modernizing fleets. The company's commitment to engineering excellence and sustainable transport continues to shape the future of clean mobility across the UK, Europe, and international markets.

This release contains forward-looking statements concerning product attributes and benefits to customers, anticipated product deliveries and customer deployments. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

Further Information
Sumit Kundu – Investor Relations, +1.604.453.3517 or [email protected]

SOURCE Ballard Power Systems Inc.

For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ballard Power Systems (BLDP - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.

Ballard Power Systems is a member of the Utilities sector. This group includes 110 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 21.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, BLDP has gained about 64.2% so far this year. Meanwhile, the Utilities sector has returned an average of 7.2% on a year-to-date basis. This means that Ballard Power Systems is outperforming the sector as a whole this year.

One other Utilities stock that has outperformed the sector so far this year is Energias de Portugal (EDPFY - Free Report) . The stock is up 14.8% year-to-date.

Over the past three months, Energias de Portugal's consensus EPS estimate for the current year has increased 0.3%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, a group that includes 60 individual stocks and currently sits at #102 in the Zacks Industry Rank. On average, stocks in this group have gained 7.3% this year, meaning that BLDP is performing better in terms of year-to-date returns. Energias de Portugal is also part of the same industry.

Investors interested in the Utilities sector may want to keep a close eye on Ballard Power Systems and Energias de Portugal as they attempt to continue their solid performance.

, /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the resignation of Weichai Power Co., Ltd. ("Weichai") board nominees, Michael Chen and Huajie Wang, from Ballard's Board of Directors effective May 13th. 

The resignations follow the sale of approximately 6.9 million Ballard common shares by Weichai Power (the "Share Sale") through its subsidiary, Weichai Power Hong Kong International Development Co., Ltd., ("Weichai Hong Kong").  As a result of the Share Sales, Weichai now owns less than 15% of Ballard's outstanding shares and is no longer entitled to appoint two nominees to Ballard's board of directors under the terms of its investor rights agreement with Ballard, prompting the resignations by Mr. Chen and Mr. Wang.  Going forward, Weichai will no longer be entitled to appoint nominees to Ballard's Board of Directors.

"Ballard appreciates Weichai's support and partnership and thanks Michael and Huajie for their contributions as board members in our joint effort to advance fuel cell commercialization opportunities in China and globally," said Jim Roche, Chair of Ballard's Board of Directors.

Ballard remains focused on executing its strategy, supporting customers worldwide, and strengthening its position as a leader in zero-emission fuel cell solutions.

About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Further Information
Sumit Kundu – Investor Relations, +1.604.453.3517 or [email protected]

SOURCE Ballard Power Systems Inc.

Ballard Power reported mixed first quarter results with a slight sales miss offset by substantial year-over-year margin increases and operating expense reductions. While the company's core markets remain under pressure from competing battery-electric solutions, more than a decade of cash runway provides substantial option value. While Ballard Power's data center opportunity remains limited to small backup power solutions, momentum appears to be the name of the game right now.

, /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced results of its 2026 Annual General Meeting, which was held on June 3rd.

Each of the Ballard directors was re-elected by a majority of the votes cast by shareholders present or represented by proxy.

Director Nominee

Votes For

% For

Votes Withheld

% Withheld

Kathy Bayless

71,838,799

98.21

1,312,516

1.79

Jacqueline Dedo

72,258,610

98.78

892,705

1.22

Douglas P. Hayhurst

66,168,321

90.45

6,982,994

9.55

Hubertus M. Muehlhaeuser

66,419,015

90.80

6,732,300

9.20

Marty Neese

72,533,025

99.16

618,290

0.85

James Roche

66,824,156

91.35

6,327,159

8.65

Ballard notes that Janet Woodruff resigned from her board seat effective June 2, 2026. Additionally, Weichai Nominees, Michael Chen and Huajie Wang, resigned their seats effective May 13, 2026.

Director biographies are available in the "Our Leadership" section of the Company's website.

In addition, KPMG LLP, Chartered Accountants, was re-appointed as auditor for the Company, and an advisory vote approved the approach to executive compensation. Details of each of these resolutions are included in the Company's Management Proxy Circular.

Item

Votes For

% For

Votes
Against

%
Against

Withheld/
Abstain

% Withheld/
Abstain

Appointment of Auditors

78,660,927

87.02

-

-

11,730,437

12.98

Executive Compensation

66,381,017

90.75

6,770,299

9.25

-

-

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Further Information

Ballard Power Systems:
Sumit Kundu –Investor Relations, +1.604.453.3517 or [email protected]

SOURCE Ballard Power Systems Inc.

Ballard Power announces results of 2026 Annual General Meeting of Shareholders PR Newswire

VANCOUVER, BC, June 4, 2026

, /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced results of its 2026 Annual General Meeting, which was held on June 3rd.

Each of the Ballard directors was re-elected by a majority of the votes cast by shareholders present or represented by proxy.

Director Nominee

Votes For

% For

Votes Withheld

% Withheld

Kathy Bayless

71,838,799

98.21

1,312,516

1.79

Jacqueline Dedo

72,258,610

98.78

892,705

1.22

Douglas P. Hayhurst

66,168,321

90.45

6,982,994

9.55

Hubertus M. Muehlhaeuser

66,419,015

90.80

6,732,300

9.20

Marty Neese

72,533,025

99.16

618,290

0.85

James Roche

66,824,156

91.35

6,327,159

8.65

Ballard notes that Janet Woodruff resigned from her board seat effective June 2, 2026. Additionally, Weichai Nominees, Michael Chen and Huajie Wang, resigned their seats effective May 13, 2026.

Director biographies are available in the "Our Leadership" section of the Company's website.

In addition, KPMG LLP, Chartered Accountants, was re-appointed as auditor for the Company, and an advisory vote approved the approach to executive compensation. Details of each of these resolutions are included in the Company's Management Proxy Circular.

Item

Votes For

% For

Votes
Against

%
Against

Withheld/
Abstain

% Withheld/
Abstain

Appointment of Auditors

78,660,927

87.02

-

-

11,730,437

12.98

Executive Compensation

66,381,017

90.75

6,770,299

9.25

-

-

About Ballard Power Systems

Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Further Information

Ballard Power Systems:
Sumit Kundu –Investor Relations, +1.604.453.3517 or [email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/ballard-power-announces-results-of-2026-annual-general-meeting-of-shareholders-302791049.html

SOURCE Ballard Power Systems Inc.