Tue, Feb. 10, 11:40 AM
Mon, Feb. 9, 12:46 PM
Wed, Feb. 4, 12:44 PM
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, 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
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
Oct. 1, 2014, 9:12 AM
Sep. 30, 2014, 5:35 PM
Jul. 2, 2014, 5:35 PM
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. 2, 2014, 12:49 PM
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. 12, 2014, 10:21 AM
- Westport Innovations (WPRT +4.2%) and India's Tata Motors (TTM) launch a new spark-ignited natural gas 3.8L turbocharged engine featuring Westport's WP580 engine management system; designed to support many engine configurations, the WP580 EMS also is scheduled to be applied to TTM's 5.7L engine targeting medium-duty applications in late 2014.
- Also, WPRT unveils its newest gas enhanced methane diesel proprietary technology that "has shown a significant breakthrough on dual fuel performance."
Oct. 8, 2013, 12:58 PM
- Clean Energy Fuels (CLNE -8.5%) is added to Piper Jaffray's Top Picks List as a Sell with a new $4.50 price target, cut from $9.50, saying trucking companies overwhelmingly prefer a type of natural gas CLNE doesn't sell.
- The firm's channel checks indicate that more than 90% of engines emerging from the Cummins-Westport (CMI; WPRT) joint venture are opting for compressed natural gas, which fleets can obtain for $1.50/gallon, instead of liquefied natural gas, which CLNE sells for at least $2.75/gallon.
- Also, the firm estimates CLNE will sell only 15M gallons of its Redeem fuel made from landfill gas next year; since CLNE will sell ~299M gallons of fuel in 2014, Redeem will not have a major impact on overall profit margins.
WPRT vs. ETF Alternatives
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.
Other News & PR