Ballard Power stock falls; CEO expects lumpy sales 'for foreseeable future'

Ballard Power Systems News

Ballard Power stock falls; CEO expects lumpy sales 'for foreseeable future'
Hydrogen Fuel CellsHydrogen ProjectsCEO Randy Macewen
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The company posted a US$31.5 million loss for the three months ended June 30, deeper than the US$28.2 million it lost in the same quarter a year ago.

) fell on Monday as the Canadian fuel cell-maker spelled out uncertainties ranging from the U.S. presidential election to the slower-than-expected global adoption of hydrogen technology. Ballard reported second-quarter financial results on Monday. The Vancouver-based company builds hydrogen fuel cells for buses, commercial trucks, trains, marine vessels, and stationary power applications.

“We expect continued quarterly order lumpiness for the foreseeable future,” MacEwen told analysts on a post-earnings conference call on Monday. “The clean hydrogen production tax credit rules, the draft regulations that were released eight months ago, are still being debated by the industry,” MacEwen said. “It remains unclear whether these regulations will be resolved before the U.S. presidential election. This is delaying investment in the U.S. hydrogen industry.

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