Ceres Power (LON:CWR) Issues Quarterly Earnings Results

Ceres Power (LON:CWR) released its earnings results on Wednesday. The company reported GBX (8.58) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Ceres Power had a negative return on equity of 29.93% and a negative net margin of 130.56%.

Here are the key takeaways from Ceres Power’s conference call:

• Contracted revenue guidance of £45 million was reiterated, with roughly half delivered in the first half and management confident of achieving the balance in the second half.
• The partner pipeline has grown across the U.S., Asia and Europe, and Ceres remains confident of signing at least one new manufacturing licensee this year.
• Existing partners are progressing toward commercial scale: Doosan secured a roughly £60 million export order, Delta is developing a second Taiwan facility, and Weichai is targeting initial production soon with an ambition of 200 megawatts.
• Ceres reported progress in reducing its cost base and R&D spending following the launch of its Endura platform, while an oversubscribed equity raise of just over £100 million strengthened the balance sheet.
• Near-term revenue remains weighted toward license fees and engineering services, while royalties are not expected to become material until partners reach larger-scale production; management also noted that licensee signing and revenue-recognition timing can be unpredictable.

Ceres Power Stock Up 7.5%

LON CWR traded up GBX 29.20 during trading hours on Friday, hitting GBX 417.80. 3,003,544 shares of the company were exchanged, compared to its average volume of 8,842,562. The company has a quick ratio of 12.18, a current ratio of 10.54 and a debt-to-equity ratio of 1.06. The firm has a market cap of £893.37 million, a price-to-earnings ratio of -17.04 and a beta of 3.00. The company has a 50 day moving average of GBX 398.90 and a two-hundred day moving average of GBX 476.27. Ceres Power has a 52-week low of GBX 119 and a 52-week high of GBX 872.50.

Analysts Set New Price Targets

Several research firms recently issued reports on CWR. Jefferies Financial Group restated a “buy” rating and set a GBX 920 price objective on shares of Ceres Power in a research report on Wednesday, June 10th. Berenberg Bank restated a “buy” rating and set a GBX 950 price target on shares of Ceres Power in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 935.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world’s largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres’ solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.