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.
Mon, Mar. 9, 4:10 PM
Sun, Mar. 8, 5:35 PM
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.
Oct. 30, 2014, 4:08 PM| 1 Comment
Jul. 31, 2014, 4:11 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.
May. 1, 2014, 5:49 PM| 4 Comments
Feb. 26, 2014, 4:37 PM
- 2014 guidance calls for revenue of $175M-$185M, up 7-13% from 2013, with company noting it starts the year without $25M in revenue contributions from the first gen Westport HDPI system. Operations are expected to post positive EBITDA by the end of this year and the entire corporation is expected to have positive EBITDA by the end of 2015.
- Q4 Westport revenue of $52.6M up 32% from a year ago. Joint venture segment revenue of $110.5M for Cummins Westport up 158%; $93,6M for Weichai Westport falls 13%.
- Adjusted EBITDA loss from operations of $8.4M vs. $15.5M a year ago. Consolidated adjusted EBITDA loss of $23.2M vs. $30.8M last year.
- CC at 5 ET
- Press release, Q4 results
- WPRT -5.4% AH
Feb. 26, 2014, 4:08 PM
Feb. 26, 2014, 12:10 AM| Comment!
Feb. 25, 2014, 5:35 PM| 4 Comments
Oct. 30, 2013, 7:10 PM| 3 Comments
Aug. 1, 2013, 5:48 PM
- Westport Innovations' (WPRT) worse than expected Q2 loss was due to a reduction in service and other revenue, higher investments in product development activities, and higher SG&A costs.
- Lowers FY 2013 guidance, seeing revenues of C$160M-C$180M vs. C$183M consensus and down from prior outlook of C$180M-C$200M, citing the deferral of HPDI-based revenue in China combined with the launch of the Cummins Westport ISX 12G in trucking.
- Shares -6.5% AH. (Q2 results)
Aug. 1, 2013, 5:29 PM
May. 3, 2013, 6:50 AM
WPRT vs. ETF Alternatives
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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