Ballard Power Systems, Inc. (BLDP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. This is the conference operator. Welcome to the Ballard Power Systems fourth quarter 2024 results conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star, then one on your telephone keypad. If you do need assistance during the conference call, you may signal an operator by pressing star, then zero. I would now like to turn the conference over to Sumit Kundu, Manager, Investor Relations. Please go ahead. Thank you, Operator, and good morning. Welcome to Ballard's fourth quarter financial and operating results conference call. With us on today's call are Randy McEwen, Ballard's CEO, and Kate Igbalode, Chief Financial Officer. We will be making forward-looking statements that are based on management's current expectations, beliefs, and assumptions concerning future events. Actual results could be materially different. Please refer to our newly filed annual information form and other public filings for our complete disclaimer and related information. I'll now turn the call over to Randy. Thank you, Suman, and welcome everyone to today's conference call. 2024 was a difficult year for the hydrogen fuel cell industry. Amidst prolonged policy uncertainty, a multi-year push out in development of hydrogen projects and the deployment of fuel cell applications, and a challenging funding environment, and industry rationalization is underway. Notwithstanding this challenging industry backdrop, Ballard achieved important progress in 2024. And I want to highlight four key achievements relating to order intake, product shipments, operating cost reductions, and product development milesto...