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Westport Fuel Systems Inc.’s (WPRT - Free Report) fourth-quarter 2017 adjusted net loss from continuing operations was 12 cents per share, narrower than the Zacks Consensus Estimate of a loss of 13 cents.
Also, total net loss from continuing operations in the quarter was $19.2 million from the net loss of $44.4 million in fourth-quarter 2016.
Westport Fuel Systems logged consolidated revenues of $64.2 million in the reported quarter, up 7% year over year. Also, the top line surpassed the Zacks Consensus Estimate of $55.3 million. This upside was driven by the initial shipments of the Westport HPDI 2.0 product and an increase in the value of Euro compared with the U.S. dollar.
For 2017, the company reported revenues of $247.1 million, up from the 2016 figure of $177.4 million.
During the quarter, consolidated gross margin increased to $16 million (25% of sales) from $13.1 million (23% of sales) recorded in the year-ago quarter. This improvement came from higher revenues and better operating efficiencies.
Consolidated adjusted EBITDA amounted to a negative $3.5 million compared with a negative $10.6 million in the prior-year quarter.
Segment Details
In 2017, Automotive Business Unit recorded a 39% increase in revenues to $239.4 million, primarily because of the consolidation of Fuel Systems for 12 months as opposed to seven months in 2016.
Corporate and Technology Investments Business Unit revenues were $7.7 million in 2017 compared with $5.1 million in 2016.
In 2017, CWI segment recorded 15% rise in revenues to $317.3 million, mainly on account of an increase in units sold and growth in parts revenues.
Financial Position
Westport Fuel Systems had cash and cash equivalents of $71.8 million as of Dec 31, 2017, up from $60.9 million as of Dec 31, 2016.
Zacks Rank & Other Stocks to Consider
Westport Fuel Systems carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are General Motors Company (GM - Free Report) , Volkswagen AG and AB Volvo (VLVLY - Free Report) .
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Westport Fuel (WPRT) Q4 Earnings & Revenues Beat Estimates
Westport Fuel Systems Inc.’s (WPRT - Free Report) fourth-quarter 2017 adjusted net loss from continuing operations was 12 cents per share, narrower than the Zacks Consensus Estimate of a loss of 13 cents.
Also, total net loss from continuing operations in the quarter was $19.2 million from the net loss of $44.4 million in fourth-quarter 2016.
Westport Fuel Systems logged consolidated revenues of $64.2 million in the reported quarter, up 7% year over year. Also, the top line surpassed the Zacks Consensus Estimate of $55.3 million. This upside was driven by the initial shipments of the Westport HPDI 2.0 product and an increase in the value of Euro compared with the U.S. dollar.
For 2017, the company reported revenues of $247.1 million, up from the 2016 figure of $177.4 million.
During the quarter, consolidated gross margin increased to $16 million (25% of sales) from $13.1 million (23% of sales) recorded in the year-ago quarter. This improvement came from higher revenues and better operating efficiencies.
Consolidated adjusted EBITDA amounted to a negative $3.5 million compared with a negative $10.6 million in the prior-year quarter.
Segment Details
In 2017, Automotive Business Unit recorded a 39% increase in revenues to $239.4 million, primarily because of the consolidation of Fuel Systems for 12 months as opposed to seven months in 2016.
Corporate and Technology Investments Business Unit revenues were $7.7 million in 2017 compared with $5.1 million in 2016.
In 2017, CWI segment recorded 15% rise in revenues to $317.3 million, mainly on account of an increase in units sold and growth in parts revenues.
Financial Position
Westport Fuel Systems had cash and cash equivalents of $71.8 million as of Dec 31, 2017, up from $60.9 million as of Dec 31, 2016.
Zacks Rank & Other Stocks to Consider
Westport Fuel Systems carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are General Motors Company (GM - Free Report) , Volkswagen AG and AB Volvo (VLVLY - Free Report) .
While General Motors sports a Zacks Rank #1 (Strong Buy), both Volkswagen and Volvo carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
General Motors has expected long-term growth rate of 8.4%. The shares of the company gained 5.2% in the past year.
Volkswagen has expected long-term growth rate of 18.7%. The shares of the company advanced 28.6% in the past year.
AB Volvo has an expected long-term growth rate of 15%. Past year, shares of the company rallied 20.5%.
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise | Westport Fuel Systems Inc. Quote
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