A month has gone by since the last earnings report for Westport Innovations (WPRT - Free Report) . Shares have added about 27.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Westport due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Westport Fuel Q4 Earnings Lag Estimates, Revenues Top
Westport Fuel’s fourth-quarter 2018 net loss from continuing operations was 8 cents per share, wider than the Zacks Consensus Estimate loss of 2 cents. Net loss per share from continuing operations was 14 cents in fourth-quarter 2017. Net loss from continuing operations in the reported quarter was $10.4 million compared with $20.8 million in fourth-quarter 2017.
Westport Fuel logged consolidated revenues of $60.5 million in the reported quarter, up 5% year over year. Moreover, the top line surpassed the Zacks Consensus Estimate of $59.8 million. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments.
During the quarter under review, consolidated gross margin decreased to $12.3 million (20% of sales) from $14 million (24% of sales) in the year-ago quarter. This decline was due to product mix and fixed costs associated with the sale of Westport HPDI 2.0.
Adjusted EBITDA amounted to $0.2 million compared with negative $4.9 million in the prior-year quarter.
In the reported quarter, CWI revenues rose to $94.1 million from the prior-year quarter’s $91.6 million.
2018 Results
In 2018, the company posted adjusted EBIDTA (earnings before interest, tax, depreciation and amortization) of $9.7 million or loss of 31 cents per share compared with adjusted EBIDTA of negative $19.7 million or loss of 52 cents per share recorded in the prior year.
The company’s consolidated revenues rose 18% year over year to $270.3 million. In 2017, the figure was $229.8 million.
Financial Position
Westport Fuel had cash and cash equivalents of $61.1 million as of Dec 31, 2018, down from $71.8 million as of Dec 31, 2017.
At the end of the year, net cash flow used in operating activities in continuing operations was $27.4 million in comparison with the prior year’s $46.8 million.
Guidance
For 2019, Westport Fuel expects to sustain growth in light-duty and medium-duty businesses through aftermarket and OEM channels. It expects consolidated revenues from continuing operations to be $265-$295 million.
How Have Estimates Been Moving Since Then?
Fresh estimates followed an upward path over the past two months.
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A month has gone by since the last earnings report for Westport Innovations (WPRT - Free Report) . Shares have added about 27.1% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Westport due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Westport Fuel Q4 Earnings Lag Estimates, Revenues Top
Westport Fuel’s fourth-quarter 2018 net loss from continuing operations was 8 cents per share, wider than the Zacks Consensus Estimate loss of 2 cents. Net loss per share from continuing operations was 14 cents in fourth-quarter 2017. Net loss from continuing operations in the reported quarter was $10.4 million compared with $20.8 million in fourth-quarter 2017.
Westport Fuel logged consolidated revenues of $60.5 million in the reported quarter, up 5% year over year. Moreover, the top line surpassed the Zacks Consensus Estimate of $59.8 million. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments.
During the quarter under review, consolidated gross margin decreased to $12.3 million (20% of sales) from $14 million (24% of sales) in the year-ago quarter. This decline was due to product mix and fixed costs associated with the sale of Westport HPDI 2.0.
Adjusted EBITDA amounted to $0.2 million compared with negative $4.9 million in the prior-year quarter.
In the reported quarter, CWI revenues rose to $94.1 million from the prior-year quarter’s $91.6 million.
2018 Results
In 2018, the company posted adjusted EBIDTA (earnings before interest, tax, depreciation and amortization) of $9.7 million or loss of 31 cents per share compared with adjusted EBIDTA of negative $19.7 million or loss of 52 cents per share recorded in the prior year.
The company’s consolidated revenues rose 18% year over year to $270.3 million. In 2017, the figure was $229.8 million.
Financial Position
Westport Fuel had cash and cash equivalents of $61.1 million as of Dec 31, 2018, down from $71.8 million as of Dec 31, 2017.
At the end of the year, net cash flow used in operating activities in continuing operations was $27.4 million in comparison with the prior year’s $46.8 million.
Guidance
For 2019, Westport Fuel expects to sustain growth in light-duty and medium-duty businesses through aftermarket and OEM channels. It expects consolidated revenues from continuing operations to be $265-$295 million.
How Have Estimates Been Moving Since Then?
Fresh estimates followed an upward path over the past two months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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