Westport Fuel Systems (WPRT) Stock

Westport (WPRT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

WPRT incurs narrower-than-expected Q3 loss while revenues miss the Zacks Consensus Estimate.

Westport Fuel Systems Inc. (NASDAQ:WPRT ) Q3 2024 Results Conference Call November 13, 2024 10:00 AM ET Company Participants Ashley Nuell - Vice President, Investor Relations Dan Sceli - Chief Executive Officer and Director Bill Larkin - Chief Financial Officer Conference Call Participants Amit Dayal - H.C. Wainwright Eric Stine - Craig-Hallum Rob Brown - Lake Street Capital Markets MacMurray Whale - Cormark Securities Jeff Osborne - TD Cowen Operator Good day, and thank you for standing by.

Westport Innovations (WPRT) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.41. This compares to loss of $0.68 per share a year ago.

Transition of Heavy-Duty OEM assets into Cespira, where they generated revenue of $16.2 million outweighs quarter-over-quarter revenue decline of $11.2 million Transition of Heavy-Duty OEM assets into Cespira, where they generated revenue of $16.2 million outweighs quarter-over-quarter revenue decline of $11.2 million

VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or “The Company”) announces that the Company will release financial results for the third quarter of 2024 on Tuesday, November 12, 2024, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday, November 13, 2024.

VANCOUVER, British Columbia, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or “The Company”) announces that it has established an at-the-market equity offering program (the “ATM Program”) that allows the Company to issue and sell up to US$35,000,000 (or its Canadian dollar equivalent) of common shares of the Company (the “Common Shares”) from treasury to the public, from time to time, at the Company's discretion.

Westport Fuel Systems reported mixed Q2/2024 results, with slight revenue pressure being offset by materially improved gross margins. The company finished the quarter with $49.9 million in pro forma cash and cash equivalents, as well as $44.2 million in debt obligations. Following the recent transfer of the company's HPDI operations to a new joint venture with Volvo, operating expenses and cash usage should come down substantially going forward.

Westport's (WPRT) second-quarter earnings beat the Zacks Consensus Estimate, while revenues miss the same.