Seeking Alpha

Westport Innovations Inc (WPRT)

  • Dec. 1, 2014, 12:41 PM
    • Westport Innovations (WPRT -14%) is downgraded to Hold from Buy with a $5.25 price target, lowered from $7.25, at Jefferies, which expects investors to focus on WPRT's cash burn and headwinds to vehicle adoption until oil prices move back above $100/bbl or the company's new product pipeline translates into renewed sales growth above a 20% compound average growth rate.
    • The firm suggests early-stage investors focus on companies with positive catalysts likely to occur in the near-term, such as Solazyme, which it currently rates at Buy.
  • Oct. 31, 2014, 4:48 PM
    • Westport Innovations (NASDAQ:WPRT) reversed earlier losses in late trading, finishing 2% higher after the K&M Douglas Trust disclosed a 15.6% active stake via a 13D filing.
    • WPRT reps have solicited Douglas’ views on management and strategic direction, according to the filing.
    | Comment!
  • Oct. 31, 2014, 12:47 PM
    • Westport Innovations (WPRT -3%) is lower after posting a lighter than expected Q3 loss but revenues fell 45% Y/Y and operating expenses rose 61%.
    • Deutsche Bank downgrades shares to Hold from Buy with an $8 price target, down from $12, seeing a weak oil price environment impacting near-term adoption of natural gas vehicles and uncertainty about timing of cash flow breakeven.
    • The firm expects shares to remain range-bound until seeing more evidence of EBITDA improvement or OEM/product announcements.
    | Comment!
  • Oct. 30, 2014, 4:08 PM
    • Westport Innovations (NASDAQ:WPRT): Q3 EPS of -$0.40 beats by $0.05.
    • Revenue of $25.3M (-45.6% Y/Y) misses by $0.32M.
    • Shares +2.3%.
    • Press Release
    | 1 Comment
  • Oct. 11, 2014, 11:05 AM
    • Auto supplier stocks look poised for a vibrant rally with global demand strengthening, notes Barron's.
    • A strong push by automakers to increase capacity and introduce new models with lower emissions could support the industry for years - while the race by OEMs to compete in China presents the group new opportunities.
    • Innovation in self-driving car technology and the growth in electric vehicles/hydrogen-powered cars might also factor in to help demand.
    • The auto supplier/parts trade could be relatively short-lived if a forecast from the chief economist from the National Automobile Dealers Association proves correct. Steven Szakaly thinks the U.S. can't support an annual selling rate of over 17M over the long term. Higher interest rates could be a spoiler, he notes.
    • Auto supplier/parts stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT.
  • Oct. 1, 2014, 3:16 PM
    • Westport Innovations (WPRT -25.1%), already reeling after cutting its revenue guidance, is downgraded to Hold from Buy with a $20 price target, down from $45, at Lake Street Capital.
    • WPRT had made strides in reducing costs and introducing next-generation products, the firm says, but the launch of key new programs - Volvo and Weichai-HPDI - now looks to be pushed out 12 months as HPDI 2.0 injectors are launched and incorporated into engine designs.
    • Lake Street believes several months could pass before improvement is clear, with limited near-term catalysts and lower growth ahead while WPRT works through the transition; shares can recover later in 2015 as WPRT executes and demonstrates resumed revenue growth and new engine rollouts.
  • Oct. 1, 2014, 12:46 PM
    | Comment!
  • Oct. 1, 2014, 9:12 AM
    | Comment!
  • Oct. 1, 2014, 9:02 AM
    • Westport Innovations (NASDAQ:WPRT) -24.7% premarket and poised to open at five-year lows after cutting its full-year revenue guidance due to uncertainty in its main markets, a change by its partners and worries about a customer’s ability to meet its obligations.
    • RBC notes the "harsh" near-term forecast revisions in lowering its stock price target to $11 from $17, and Northland Capital cuts its target to $9 from $15 and says it would not be surprised to see WPRT raise capital in the next year given the push out of cash breakeven (
    • FBR Capital is somewhat more positive, believing some of the issues are more related to timing than to any change in the overall competitiveness of WPRT's products, and that the key driver is the slower near-term offtake for liquefied natural gas vehicles vs. compressed natural gas vehicles.
    | Comment!
  • Sep. 30, 2014, 5:35 PM
    | Comment!
  • Sep. 30, 2014, 4:37 PM
    • Westport Innovations (NASDAQ:WPRT) says it is lowering its outlook for FY 2014 revenues to $130M-$140M from $175M-$185M vs. $174M analyst consensus estimate.
    • WPRT cites continued market uncertainty in its primary markets of Europe, Russia and China, which have impacted revenue in its applied technologies business in H2, as well as key OEM development partners moving to the newly co-developed HPDI 2.0 injectors, which will defer related service revenue milestone payments in the near term.
    • WPRT also says a customer who placed a significant order has been unable to assure that it will be able to meet its obligations.
    • Shares halted until 4:50.
    | Comment!
  • Sep. 23, 2014, 8:31 AM
    • Westport Innovations (NASDAQ:WPRT) introduces what it says is the first generation of enhanced spark-ignited natural gas system, designed to provide vehicle and engine manufacturers with a downsized natural gas solution that is cost competitive while providing similar levels of power, torque and fuel economy to a larger diesel engine.
    • WPRT -0.8% premarket.
  • Aug. 15, 2014, 7:54 AM
    • Westport Innovations (NASDAQ:WPRT) has elected Jill Bodkin as new Chairman of the Board of Directors.
    • Former Chairman, John Beaulieu, will remain on the board as a director and will be given the title of "Chairman Emeritus."
    • Joseph Caron, who previously served on Westport's Advisory Board, has now been appointed to the Board of Directors.
  • Jul. 31, 2014, 4:11 PM
    • Westport Innovations (NASDAQ:WPRT): FQ1 EPS of -$0.42 beats by $0.02.
    • Revenue of $40M (+14.7% Y/Y) misses by $4.83M.
    • Shares -1.39% AH.
    • Press Release
    | Comment!
  • Jul. 2, 2014, 5:35 PM
    | Comment!
  • May. 2, 2014, 2:57 PM
    • Westport Innovations (WPRT +24.2%) is soaring after Q1 earnings beat expectations and showed signs of moving towards making a profit.
    • Q1 gross margin rose to 12.3% from 8.1% due primarily to sales of higher margin product such as the Westport WiNG System and service revenue.
    • Issued in-line guidance for FY 2014, seeing revenues C$175M-C$185M vs. C$183.6M analyst consensus estimate.
    | 1 Comment
WPRT vs. ETF Alternatives
Company Description
Westport Innovations Inc is a provider of high-performance, low-emission engine and fuel system technologies utilizing gaseous fuels. Its product includes specialized natural gas components, engine and vehicle systems for automotive & among others.