Westport Fuel Systems Inc.’s (WPRT - Free Report) second-quarter 2019 net loss from continuing operations was 2 cents per share, meeting the Zacks Consensus Estimate. The same was 4 cents in second-quarter 2018. Net loss from continuing operations in the reported quarter was $2.3 million compared with $5.7 million in second-quarter 2018.
Westport Fuel logged consolidated revenues of $82.4 million in the reported quarter, up 2% year over year. Moreover, the company’s revenues top line surpassed the Zacks Consensus Estimate of $71 million.
During the quarter under review, consolidated gross margin declined to $19.3 million from $21.7 million in the year-ago quarter. This increase was due to product mix.
Adjusted EBITDA amounted to $8.1 million compared with $8.5 million in the prior-year quarter.
In the reported quarter, CWI revenues declined $2.9 million to $84 million.
Financial Position
Westport Fuel had cash and cash equivalents of $45.4 million as of Jun 30, 2019, down from $61.1 million as of Dec 31, 2018.
For the three months ended Jun 30, 2019, the company’s net cash flows from operating activities of continuing operations was $2.5 million compared with net cash flows of $2 million used in operating activities in the three months ended Jun 30, 2018.
Guidance
For 2019, the company projects consolidated revenues from continuing operations of $285-$305 million, up from previously mentioned $265-$295 million.
Zacks Rank & Stocks to Consider
Westport Fuel currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Fox Factory Holding Corp (FOXF - Free Report) , CarMax, Inc. (KMX - Free Report) and Gentex Corporation (GNTX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory has an expected long-term growth rate of 16.7%. In the past year, shares of the company have rallied 16.2%.
CarMax has an expected long-term growth rate of 12.6%. In the past year, shares of the company have moved up 13.3%.
Gentex has an expected long-term growth rate of 5%. In the past year, shares of the company have returned 17.3%.
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Westport Fuel Systems Inc.’s (WPRT - Free Report) second-quarter 2019 net loss from continuing operations was 2 cents per share, meeting the Zacks Consensus Estimate. The same was 4 cents in second-quarter 2018. Net loss from continuing operations in the reported quarter was $2.3 million compared with $5.7 million in second-quarter 2018.
Westport Fuel logged consolidated revenues of $82.4 million in the reported quarter, up 2% year over year. Moreover, the company’s revenues top line surpassed the Zacks Consensus Estimate of $71 million.
During the quarter under review, consolidated gross margin declined to $19.3 million from $21.7 million in the year-ago quarter. This increase was due to product mix.
Adjusted EBITDA amounted to $8.1 million compared with $8.5 million in the prior-year quarter.
In the reported quarter, CWI revenues declined $2.9 million to $84 million.
Financial Position
Westport Fuel had cash and cash equivalents of $45.4 million as of Jun 30, 2019, down from $61.1 million as of Dec 31, 2018.
For the three months ended Jun 30, 2019, the company’s net cash flows from operating activities of continuing operations was $2.5 million compared with net cash flows of $2 million used in operating activities in the three months ended Jun 30, 2018.
Guidance
For 2019, the company projects consolidated revenues from continuing operations of $285-$305 million, up from previously mentioned $265-$295 million.
Zacks Rank & Stocks to Consider
Westport Fuel currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Fox Factory Holding Corp (FOXF - Free Report) , CarMax, Inc. (KMX - Free Report) and Gentex Corporation (GNTX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory has an expected long-term growth rate of 16.7%. In the past year, shares of the company have rallied 16.2%.
CarMax has an expected long-term growth rate of 12.6%. In the past year, shares of the company have moved up 13.3%.
Gentex has an expected long-term growth rate of 5%. In the past year, shares of the company have returned 17.3%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
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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