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Hyzon (HYZN) Shifts Focus to North America & Refuse Industry
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Hyzon Motors Inc. (HYZN - Free Report) is shifting its strategic priorities to concentrate on its core markets in North America and the refuse industry. It landed at this decision after a thorough review of its operations.
Alongside efforts to secure funding, the company has hired PJT Partners as its financial advisor to oversee the capital-raising process through various transactions and explore strategic options, which might include selling the company or divesting its European and Australia/New Zealand businesses, among other possibilities. During this exploration, Hyzon will continue to focus on reducing costs and managing liquidity, potentially including workforce reductions or other strategic actions.
This realignment will enable HYZN to focus on its financial resources and investments to better position its pioneering 200kW single-stack fuel cell technology for zero-emission North American Class 8 and refuse truck Fuel Cell Electric Vehicle platforms. The company is preparing to launch major fleet trial programs for these platforms in the United States and Canada this summer.
In the first quarter of 2024, Hyzon’s revenues reached $10 million, representing a significant improvement compared with no revenues in the same period last year, which indicates substantial progress in customer acceptance and the completion of the commercial cycle. Research and development, selling, general and administrative expenses, and net cash burn, excluding the initial SEC settlement payment and proceeds from the sale of the Rochester facility, all met or were below the lower end of the company's guidance ranges.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 6 cents in the past 60 days. The EPS estimates for 2025 have moved up 15 cents in the past 30 days.
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Hyzon (HYZN) Shifts Focus to North America & Refuse Industry
Hyzon Motors Inc. (HYZN - Free Report) is shifting its strategic priorities to concentrate on its core markets in North America and the refuse industry. It landed at this decision after a thorough review of its operations.
Alongside efforts to secure funding, the company has hired PJT Partners as its financial advisor to oversee the capital-raising process through various transactions and explore strategic options, which might include selling the company or divesting its European and Australia/New Zealand businesses, among other possibilities. During this exploration, Hyzon will continue to focus on reducing costs and managing liquidity, potentially including workforce reductions or other strategic actions.
This realignment will enable HYZN to focus on its financial resources and investments to better position its pioneering 200kW single-stack fuel cell technology for zero-emission North American Class 8 and refuse truck Fuel Cell Electric Vehicle platforms. The company is preparing to launch major fleet trial programs for these platforms in the United States and Canada this summer.
In the first quarter of 2024, Hyzon’s revenues reached $10 million, representing a significant improvement compared with no revenues in the same period last year, which indicates substantial progress in customer acceptance and the completion of the commercial cycle. Research and development, selling, general and administrative expenses, and net cash burn, excluding the initial SEC settlement payment and proceeds from the sale of the Rochester facility, all met or were below the lower end of the company's guidance ranges.
Zacks Rank & Other Key Picks
HYZN currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Blue Bird Corporation (BLBD - Free Report) , Oshkosh Corporation (OSK - Free Report) and American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 6 cents in the past 60 days. The EPS estimates for 2025 have moved up 15 cents in the past 30 days.