What’s Causing the Drop in Ballard Power Systems Stock Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
0mins
Should l Buy BLDP?
Source: Benzinga
Earnings Report: Ballard Power Systems reported a net loss of $28.1 million for Q3 FY25, which was better than expected, with revenue increasing 120% year-over-year to $32.5 million, surpassing analyst estimates.
Segment Performance: Heavy Duty Mobility revenue rose 83% year-over-year, while truck revenue saw a significant decline of 91%. Other segments like marine and stationary revenue experienced substantial growth.
Cost Management: The company achieved a 40% reduction in cash operating costs year-over-year and a 36% decrease in total operating expenses, excluding restructuring costs.
Future Outlook: Ballard Power expects revenue growth to be stronger in the second half of 2025 and has lowered its capital expenditure outlook, while also deciding against expanding manufacturing with a Texas Gigafactory.
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Analyst Views on BLDP
Wall Street analysts forecast BLDP stock price to rise
4 Analyst Rating
0 Buy
4 Hold
0 Sell
Hold
Current: 1.990
Low
2.50
Averages
2.93
High
3.30
Current: 1.990
Low
2.50
Averages
2.93
High
3.30
About BLDP
Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. The Company operates through fuel cell products and services segment. Embedded in each Ballard fuel cell product lies a stack of unit cells designed with its PEM fuel cell technology that includes membrane electrode assemblies, catalysts, plates, and other key components, and draw on intellectual property from its patent portfolio, together with its experience and know-how, in key areas of PEM fuel cell stack design, operation, production processes and systems integration.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ballard Partners with New Flyer for 500 Fuel Cell Engines Agreement
- Agreement Reached: Ballard Power Systems has signed a commercial agreement with New Flyer for 500 FCmove®-HD+ fuel cell engines, totaling 50 MW, marking New Flyer's largest single commitment since the partnership began, with deliveries set to start in 2026 to enhance hydrogen fuel cell bus deployment across North America.
- Trust in Technology: New Flyer has consistently trusted Ballard over the past decade, deepening their partnership, as Ballard's fuel cell engines provide the necessary range, rapid refueling, and reliable performance, enabling New Flyer to accelerate zero-emission vehicle deployments in response to growing market demand for sustainable transportation.
- Global Operational Data: Currently, Ballard-powered fleets exceed 2,200 fuel cell buses, collectively logging over 250 million kilometers with a 98% availability rate and zero reported safety incidents, showcasing the reliability of their technology and laying a strong foundation for future market expansion.
- Value-Added Services: Ballard also offers additional fleet services, including training, technical support, parts supply, and operational monitoring, which unlock further value for customers, enhancing fleet performance and strengthening competitive positioning in the transition to zero-emission transportation.
See More
Ballard Partners with New Flyer for 500 Fuel Cell Engines Agreement
- Agreement Reached: Ballard Power Systems has signed a commercial agreement with New Flyer for 500 FCmove®-HD+ fuel cell engines, totaling 50 MW, marking New Flyer's largest single commitment since the partnership began, with deliveries set to start in 2026 to power hydrogen fuel cell buses across North America.
- Growing Market Demand: With increasing demand for fuel cell buses, New Flyer is excited to continue its partnership with Ballard, leveraging their technological advantages to support the transition to zero-emission transportation, thereby reinforcing its leadership position in the heavy-duty bus market.
- Global Operational Data: Currently, Ballard-powered fleets have grown to over 2,200 buses, collectively logging more than 250 million kilometers with a 98% availability rate and zero reported safety incidents, demonstrating the reliability of its technology and market acceptance.
- Value-Added Services: Ballard enhances fleet performance by providing additional services such as training, technical support, parts supply, and operational monitoring, which strengthens long-term partnerships with customers and ensures competitiveness in future markets.
See More
Ballard Partners with New Flyer for 500 Fuel Cell Engines Agreement
- Agreement Reached: Ballard Power Systems has signed a commercial agreement with New Flyer to supply 500 FCmove®-HD+ fuel cell engines, totaling 50 MW, representing the largest single commitment from New Flyer since the partnership began, indicating a deepening relationship between the two companies.
- Delivery Schedule: Deliveries are set to commence in 2026, powering New Flyer’s Xcelsior CHARGE FC™ hydrogen fuel cell buses across North America, supporting the transition to zero-emission transportation and addressing the growing market demand.
- Market Performance: Ballard currently powers over 2,200 fuel cell buses worldwide, which have collectively logged over 250 million kilometers with a 98% availability rate and zero reported safety incidents, demonstrating the reliability of its technology and market acceptance.
- Value-Added Services: In addition to fuel cell engines, Ballard offers extra fleet services including training, technical support, and operational monitoring, which enhance customer operational efficiency and vehicle performance, thereby strengthening the long-term partnership with New Flyer.
See More
Plug Power Reports Q4 Revenue Beat Amid CEO Transition
- Revenue Growth: Plug Power reported a 17.6% year-over-year revenue increase in Q4, exceeding expectations and demonstrating strong performance in the hydrogen fuel cell sector, which boosts investor confidence.
- CEO Transition Impact: New CEO Jose Luis Crespo has committed to achieving positive EBITDA by Q4 2024, with expectations for positive operating income by the end of 2027 and full profitability by 2028, providing clear strategic goals.
- Surge in Trading Volume: Today's trading volume reached 222.8 million shares, about 122% above the three-month average, reflecting heightened market interest in the company's turnaround plan, potentially supporting the stock price.
- Market Rebound: Despite a weak overall market, Plug Power's stock surged 22.38% to close at $2.23, highlighting its unique competitive position in the hydrogen sector and potentially attracting more investor attention.
See More
Ballard Power Systems Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Ballard Power Systems will hold a conference call on March 12, 2026, at 8:00 AM Pacific Time to review its Q4 and full-year 2025 operating results, which is expected to provide critical financial data and future outlook.
- Participation Details: Investors can join the call by dialing +1-833-821-2814 or accessing the live webcast through the company's homepage, ensuring broad investor participation and transparency.
- Webcast Access: After the call, a link to the webcast will be available in the 'Investor Hub' on Ballard's website, facilitating access to information for those unable to attend live, thereby enhancing information accessibility.
- Company Vision: Ballard Power Systems aims to deliver zero-emission PEM fuel cells to electrify mobility, including buses, commercial trucks, trains, and marine vessels, showcasing its strategic positioning in the sustainable development sector.
See More
Ballard Power Systems Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Ballard Power Systems will hold a conference call on March 12, 2026, at 8:00 AM Pacific Time to review its Q4 and full-year 2025 operating results, which is expected to attract investor interest.
- Dial-in Information: Investors can join the call by dialing +1-833-821-2814, providing an accessible way to ensure broad participation in the financial discussion.
- Webcast Access: The call will be available via a live webcast on Ballard's homepage, and a replay link will be accessible in the 'Investor Hub' post-call, enhancing information transparency for stakeholders.
- Company Vision: Ballard is committed to delivering zero-emission PEM fuel cells that enable the electrification of mobility across buses, commercial trucks, trains, and marine vessels, highlighting its strategic importance in sustainable development.
See More
Ballard Partners with New Flyer for 500 Fuel Cell Engines Agreement
- Agreement Reached: Ballard Power Systems has signed a commercial agreement with New Flyer for 500 FCmove®-HD+ fuel cell engines, totaling 50 MW, marking New Flyer's largest single commitment since the partnership began, with deliveries set to start in 2026 to enhance hydrogen fuel cell bus deployment across North America.
- Trust in Technology: New Flyer has consistently trusted Ballard over the past decade, deepening their partnership, as Ballard's fuel cell engines provide the necessary range, rapid refueling, and reliable performance, enabling New Flyer to accelerate zero-emission vehicle deployments in response to growing market demand for sustainable transportation.
- Global Operational Data: Currently, Ballard-powered fleets exceed 2,200 fuel cell buses, collectively logging over 250 million kilometers with a 98% availability rate and zero reported safety incidents, showcasing the reliability of their technology and laying a strong foundation for future market expansion.
- Value-Added Services: Ballard also offers additional fleet services, including training, technical support, parts supply, and operational monitoring, which unlock further value for customers, enhancing fleet performance and strengthening competitive positioning in the transition to zero-emission transportation.
See More
Ballard Partners with New Flyer for 500 Fuel Cell Engines Agreement
- Agreement Reached: Ballard Power Systems has signed a commercial agreement with New Flyer for 500 FCmove®-HD+ fuel cell engines, totaling 50 MW, marking New Flyer's largest single commitment since the partnership began, with deliveries set to start in 2026 to power hydrogen fuel cell buses across North America.
- Growing Market Demand: With increasing demand for fuel cell buses, New Flyer is excited to continue its partnership with Ballard, leveraging their technological advantages to support the transition to zero-emission transportation, thereby reinforcing its leadership position in the heavy-duty bus market.
- Global Operational Data: Currently, Ballard-powered fleets have grown to over 2,200 buses, collectively logging more than 250 million kilometers with a 98% availability rate and zero reported safety incidents, demonstrating the reliability of its technology and market acceptance.
- Value-Added Services: Ballard enhances fleet performance by providing additional services such as training, technical support, parts supply, and operational monitoring, which strengthens long-term partnerships with customers and ensures competitiveness in future markets.
See More
Ballard Partners with New Flyer for 500 Fuel Cell Engines Agreement
- Agreement Reached: Ballard Power Systems has signed a commercial agreement with New Flyer to supply 500 FCmove®-HD+ fuel cell engines, totaling 50 MW, representing the largest single commitment from New Flyer since the partnership began, indicating a deepening relationship between the two companies.
- Delivery Schedule: Deliveries are set to commence in 2026, powering New Flyer’s Xcelsior CHARGE FC™ hydrogen fuel cell buses across North America, supporting the transition to zero-emission transportation and addressing the growing market demand.
- Market Performance: Ballard currently powers over 2,200 fuel cell buses worldwide, which have collectively logged over 250 million kilometers with a 98% availability rate and zero reported safety incidents, demonstrating the reliability of its technology and market acceptance.
- Value-Added Services: In addition to fuel cell engines, Ballard offers extra fleet services including training, technical support, and operational monitoring, which enhance customer operational efficiency and vehicle performance, thereby strengthening the long-term partnership with New Flyer.
See More
Plug Power Reports Q4 Revenue Beat Amid CEO Transition
- Revenue Growth: Plug Power reported a 17.6% year-over-year revenue increase in Q4, exceeding expectations and demonstrating strong performance in the hydrogen fuel cell sector, which boosts investor confidence.
- CEO Transition Impact: New CEO Jose Luis Crespo has committed to achieving positive EBITDA by Q4 2024, with expectations for positive operating income by the end of 2027 and full profitability by 2028, providing clear strategic goals.
- Surge in Trading Volume: Today's trading volume reached 222.8 million shares, about 122% above the three-month average, reflecting heightened market interest in the company's turnaround plan, potentially supporting the stock price.
- Market Rebound: Despite a weak overall market, Plug Power's stock surged 22.38% to close at $2.23, highlighting its unique competitive position in the hydrogen sector and potentially attracting more investor attention.
See More
Ballard Power Systems Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Ballard Power Systems will hold a conference call on March 12, 2026, at 8:00 AM Pacific Time to review its Q4 and full-year 2025 operating results, which is expected to provide critical financial data and future outlook.
- Participation Details: Investors can join the call by dialing +1-833-821-2814 or accessing the live webcast through the company's homepage, ensuring broad investor participation and transparency.
- Webcast Access: After the call, a link to the webcast will be available in the 'Investor Hub' on Ballard's website, facilitating access to information for those unable to attend live, thereby enhancing information accessibility.
- Company Vision: Ballard Power Systems aims to deliver zero-emission PEM fuel cells to electrify mobility, including buses, commercial trucks, trains, and marine vessels, showcasing its strategic positioning in the sustainable development sector.
See More
Ballard Power Systems Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Ballard Power Systems will hold a conference call on March 12, 2026, at 8:00 AM Pacific Time to review its Q4 and full-year 2025 operating results, which is expected to attract investor interest.
- Dial-in Information: Investors can join the call by dialing +1-833-821-2814, providing an accessible way to ensure broad participation in the financial discussion.
- Webcast Access: The call will be available via a live webcast on Ballard's homepage, and a replay link will be accessible in the 'Investor Hub' post-call, enhancing information transparency for stakeholders.
- Company Vision: Ballard is committed to delivering zero-emission PEM fuel cells that enable the electrification of mobility across buses, commercial trucks, trains, and marine vessels, highlighting its strategic importance in sustainable development.
See More
