Wed, Nov. 11, 9:11 AM
- Westport Innovations (NASDAQ:WPRT) -8% premarket after Q3 earnings fall far short of expectations and revenues decrease 12% Y/Y.
- WPRT cites the unfavorable impact of foreign currency translation from the euro to the dollar and weakness in its North American product lines such as Westport Wing Power System and Westport iCE PACK, both affected by volatility in energy pricing.
- WPRT reaffirms FY 2015 revenue guidance of $110M-$125M vs. $114M analyst consensus estimate.
- RBC Capital lowers its stock price target to $4 from $5.50, saying the balance sheet requires continued monitoring even while citing progress on cost controls and management confidence in its 2015 outlook and plans to raise ~$50M from non-core asset sales (Briefing.com).
Tue, Nov. 10, 5:40 PM
Fri, Oct. 9, 3:57 PM
- Westport Innovations (WPRT +13.9%) is surging today following yesterday's announcement that it had signed a market development agreement with Gazprom (OTCPK:OGZPY) focused on expanding the use of natural gas vehicles in Russia and the localization of manufacturing of WPRT's Emer brand natural gas products.
- Gazprom already has 200 compressed natural gas stations with plans to add 300 more by 2020; the Russian group forecasts CNG consumption in the country to grow from 400M cm in 2013 to 10.4B cm by 2020, and LNG consumption to grow from zero to 3.8M tons/year.
Tue, Oct. 6, 12:58 PM
- Westport Innovations (WPRT +6%) says the new ISL G Near Zero NOx natural gas engine, created through its joint venture with Cummins (CMI +0.9%), has become the first MidRange engine in North America to receive emission certifications from both the U.S. EPA and California's Air Resources Board to meet Near Zero NOx Emissions standards for medium-duty truck, urban bus, school bus and refuse applications.
- The venture says exhaust emissions will be 90% lower than the current EPA NOx limit of 0.2 g/bhp-hr and meets 2017 EPA greenhouse gas emission requirements.
Mon, Jun. 29, 10:38 AM
- Select auto supplier stocks are feeling the sharpest pinch in the consumer goods sector from the developments in Greece.
- Westport Innovations (WPRT -4.6%), Delphi Automotive (DLPH -3.3%), and Tower International (TOWR -1.8%) are all trading weaker than broad averages.
- Goodyear Tire & Rubber (GT -3.4%) and Cooper Tire & Rubber (CTB -1.8%) are also feeling pressure.
Fri, May 29, 10:39 AM
- Automobile industry supplier stocks are tilting lower after WABCO and Modine Manufacturing issued guidance below the expectations of analysts.
- F/X pressure and some uncertainty in the markets in Brazil and China are weighing on the sector.
- Decliners: WABCO (NYSE:WBC) -2.9%, Modine Manufacturing (NYSE:MOD) -2.5%, Meritor (NYSE:MTOR) -2.4%, Motorcar Parts of America (NASDAQ:MPAA) -2.3%, Westport Innovations (NASDAQ:WPRT) -2.0%, Federal-Mogul (NASDAQ:FDML) -1.8%, Stoneridge (NYSE:SRI) -1.3%, Lydall (NYSE:LDL) -1.3%, Cooper-Standard Holdings (NYSE:CPS) -1.2%.
Mon, May 4, 12:21 PM
Tue, Mar. 10, 12:45 PM
Tue, Mar. 10, 10:31 AM
- Westport Innovations (WPRT -15.5%) is sharply lower after posting a larger than expected Q4 loss of $1.02/share, compared with a loss of $1.42 a year earlier, as revenue fell 48% Y/Y to $27.4M.
- WPRT says it is facing stronger economic headwinds than it had expected, and now anticipates reaching breakeven on an adjusted EBITDA basis in mid-2016 while seeing FY 2015 revenues of $110M-$125M vs. its prior forecast of $128M and below analyst consensus estimate of $143M.
- Jefferies cuts its stock price target to $5 from $7 following WPRT's outlook that highlights challenging end-market conditions and aggressive measures to control costs; Northland Capital lowers its target to $5.50 from $6 following the results and guidance.
Tue, Mar. 10, 9:19 AM
Mon, Mar. 9, 5:40 PM
Mon, Mar. 9, 10:14 AM
Mon, Mar. 2, 1:57 PM
- There's a broad rally in auto parts stocks underway after a strong read on sales in some key European markets.
- Sales in Spain rose 26% Y/Y in February, while sales improved 7% in Germany and 4.1% in France.
- February U.S. sales are due to be reported tomorrow by manufacturers.
- Gainers: Federal-Mogul (NASDAQ:FDML)+4.1%, Westport Innovations (NASDAQ:WPRT) +2.6%, Modine Manufacturing (NYSE:MOD) +2.6%, Dana Holding (NYSE:DAN) +2.5%, Visteon (NYSE:VC) +2.4%, BorgWarner (NYSE:BWA) +2.4%, Lear (NYSE:LEA) +2.4%, Lydall (NYSE:LDL) +2.2%, Johnson Controls (NYSE:JCI) +2.2%, Delphi Automotive (NYSE:DLPH) +2.0%.
Tue, Feb. 10, 11:40 AM
Mon, Feb. 9, 12:46 PM
Wed, Feb. 4, 12:44 PM
Westport Innovations Inc is a provider of high-performance, low-emission engine and fuel system technologies utilizing gaseous fuels. Its segments include On-Road Systems, Applied Technologies, and Corporate and Technology Investments.
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