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Cespira revenues rose 33% on higher LNG HPDI truck demand and stronger system volumes.
Westport said current cash may not fund operations for the next 12 months as it weighs funding options.
Westport Fuel Systems Inc. (WPRT - Free Report) reported a first-quarter 2026 loss of 33 cents per share, narrower than the Zacks Consensus Estimate of a loss of 44 cents. The loss widened from 14 cents in the year-ago quarter, reflecting a tougher consolidated revenue base after the prior-year period included activity that is no longer in continuing operations.
Revenues in the quarter came in at $2.29 million, down 68.8% year over year, but above the Zacks Consensus Estimate of $1.9 million, delivering a 20.3% surprise. Operationally, Westport pointed to continued momentum in Cespira, its HPDI joint venture with Volvo Group, which lifted revenues 33% from a year ago. The company incurred an adjusted EBITDA loss of $4.86 million compared with a loss of $7,000 recorded in the year-ago period.
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise
WPRT Reports Wider Net Loss as FX Swings Against It
While the per-share result topped expectations, WPRT still posted a net loss from continuing operations of $5.7 million compared with a $5.3 million loss in the first quarter of 2025. The quarter also included a $1 million foreign exchange loss versus a gain in the year-ago period, which added pressure to bottom-line performance.
Below operating income, the company recorded a $1.38 million loss from investments accounted for under the equity method, down from $3.88 million a year earlier. Interest and other income, net of bank charges, totaled $0.74 million, partially offsetting the quarter’s operating and equity-method losses.
Westport's Cespira JV Expands HPDI System Volumes
Cespira remained the key operational bright spot. The joint venture generated total revenues of $22.25 million, up 33% year over year, supported by stronger demand for LNG HPDI trucks and higher systems volumes. Product revenues climbed 48% to $19.49 million, showing that shipments, rather than milestone-based service work, drove the step-up.
The mix shift showed up in profitability. Cespira’s gross profit rose to $1.58 million from $0.45 million a year ago, while gross margin improved to 7% from 3%. Net loss at Cespira narrowed to $2.52 million from $7.11 million, reflecting higher product volume and a cost base.
WPRT's High-Pressure Controls Gains on Testing Services
On the consolidated reporting side, WPRT’s High-Pressure Controls segment posted revenues of $2.29 million, up 21% from $1.89 million in the first quarter of 2025. Westport attributed the increase primarily to higher service revenues tied to product testing provided to an OEM customer, while product revenues were described as consistent with the year-ago quarter.
Gross profit for the segment was $0.52 million, essentially flat year over year, but gross margin declined to 23% from 27%. Engineering service revenues drove gross profit in the current quarter, while the prior-year quarter leaned more on products sold, suggesting a different profitability profile within the segment’s revenue mix.
Westport Adjusts Cost Structure as Revenue Base Resets
With the Heavy-Duty OEM transitional service agreement with Cespira having ended in the second quarter of 2025, the year-over-year comparison reflects a smaller continuing-operations revenue base. Against that backdrop, Westport’s operating expenses were mixed. Research and development expenses were $1.22 million compared with $1.29 million a year ago, while sales and marketing expenses fell to $0.21 million from $0.44 million.
General and administrative expenses increased to $2.83 million from $2.67 million in the prior-year quarter. Depreciation and amortization were $0.11 million, largely steady year over year, underscoring that the near-term earnings trajectory is being shaped more by revenue composition and operating cost discipline than changes in the depreciation profile.
WPRT Flags Liquidity Needs Despite Lower Debt
As of March 31, 2026, WPRT’s cash and cash equivalents were $24.5 million, down from $27.2 million at the end of 2025. Cash used in operating activities from continuing operations was $3.34 million, due to operating losses and working-capital changes. Investing activities provided $2.56 million, led by $5.84 million of proceeds from a holdback receivable, partially offset by $2.85 million of capital contributions to equity-method investments.
The company estimates that the cash and cash equivalents will not be sufficient to fund operations through the next 12 months, and it is evaluating funding alternatives, a disclosure that raises the stakes around capital access as Westport works to translate Cespira’s growth into improved consolidated results.
Mobileye Global Inc. (MBLY - Free Report) reported first-quarter 2026 results on April 23. It posted earnings of 12 cents per share, beating the Zacks Consensus Estimate of 8 cents by 58.52%. The bottom line rose 50% year over year, driven by higher shipments of EyeQ system-on-chip. The company posted revenues of $558 million, which beat the Zacks Consensus Estimate of $520 million by 7.36% and increased 27.4% year over year.
Operating cash flow was $75 million, reflecting the company’s ability to convert its ADAS scale into cash generation.
Mobileye also approved a share buyback program of up to $250 million. By the end of the first quarter, MBLY had $1.21 billion in cash, after spending $591 million (net of cash received) on the Mentee Robotics acquisition.
Gentex Corporation (GNTX - Free Report) reported first-quarter 2026 results on April 24. It posted adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 8.28%. The figure increased 11.6% from 43 cents per share a year ago. Net sales came in at $675 million, topping the consensus mark of $647 million by 4.36%. Revenues rose 17.1% from $577 million in the year-ago quarter, aided by contributions from VOXX and a richer mix of advanced features.
Liquidity improved during the quarter. As of March 31, 2026, GNTX’s cash and cash equivalents were $164.8 million compared with $145.6 million as of Dec. 31, 2025. Short-term investments increased to $10.3 million from $5.4 million.
PACCAR Inc. (PCAR - Free Report) reported first-quarter 2026 results on April 28. It reported earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.13 by 1.8%. The bottom line decreased 21.2% from $1.46 in the year-ago quarter. Consolidated revenues (including trucks and financial services) were $6.78 billion, down from $7.44 billion in the corresponding quarter of 2025. The decline reflected lower industry volumes.
On the balance sheet, cash and marketable securities were $8.60 billion as of March 31, 2026, compared with $9.25 billion as of Dec. 31, 2025, while stockholders’ equity increased to $19.76 billion from $19.26 billion over the same span.
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Westport's Q1 Earnings Beat Estimates on Cespira HPDI Demand Strength
Key Takeaways
Westport Fuel Systems Inc. (WPRT - Free Report) reported a first-quarter 2026 loss of 33 cents per share, narrower than the Zacks Consensus Estimate of a loss of 44 cents. The loss widened from 14 cents in the year-ago quarter, reflecting a tougher consolidated revenue base after the prior-year period included activity that is no longer in continuing operations.
Revenues in the quarter came in at $2.29 million, down 68.8% year over year, but above the Zacks Consensus Estimate of $1.9 million, delivering a 20.3% surprise. Operationally, Westport pointed to continued momentum in Cespira, its HPDI joint venture with Volvo Group, which lifted revenues 33% from a year ago. The company incurred an adjusted EBITDA loss of $4.86 million compared with a loss of $7,000 recorded in the year-ago period.
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise
Westport Fuel Systems Inc. price-consensus-eps-surprise-chart | Westport Fuel Systems Inc. Quote
WPRT Reports Wider Net Loss as FX Swings Against It
While the per-share result topped expectations, WPRT still posted a net loss from continuing operations of $5.7 million compared with a $5.3 million loss in the first quarter of 2025. The quarter also included a $1 million foreign exchange loss versus a gain in the year-ago period, which added pressure to bottom-line performance.
Below operating income, the company recorded a $1.38 million loss from investments accounted for under the equity method, down from $3.88 million a year earlier. Interest and other income, net of bank charges, totaled $0.74 million, partially offsetting the quarter’s operating and equity-method losses.
Westport's Cespira JV Expands HPDI System Volumes
Cespira remained the key operational bright spot. The joint venture generated total revenues of $22.25 million, up 33% year over year, supported by stronger demand for LNG HPDI trucks and higher systems volumes. Product revenues climbed 48% to $19.49 million, showing that shipments, rather than milestone-based service work, drove the step-up.
The mix shift showed up in profitability. Cespira’s gross profit rose to $1.58 million from $0.45 million a year ago, while gross margin improved to 7% from 3%. Net loss at Cespira narrowed to $2.52 million from $7.11 million, reflecting higher product volume and a cost base.
WPRT's High-Pressure Controls Gains on Testing Services
On the consolidated reporting side, WPRT’s High-Pressure Controls segment posted revenues of $2.29 million, up 21% from $1.89 million in the first quarter of 2025. Westport attributed the increase primarily to higher service revenues tied to product testing provided to an OEM customer, while product revenues were described as consistent with the year-ago quarter.
Gross profit for the segment was $0.52 million, essentially flat year over year, but gross margin declined to 23% from 27%. Engineering service revenues drove gross profit in the current quarter, while the prior-year quarter leaned more on products sold, suggesting a different profitability profile within the segment’s revenue mix.
Westport Adjusts Cost Structure as Revenue Base Resets
With the Heavy-Duty OEM transitional service agreement with Cespira having ended in the second quarter of 2025, the year-over-year comparison reflects a smaller continuing-operations revenue base. Against that backdrop, Westport’s operating expenses were mixed. Research and development expenses were $1.22 million compared with $1.29 million a year ago, while sales and marketing expenses fell to $0.21 million from $0.44 million.
General and administrative expenses increased to $2.83 million from $2.67 million in the prior-year quarter. Depreciation and amortization were $0.11 million, largely steady year over year, underscoring that the near-term earnings trajectory is being shaped more by revenue composition and operating cost discipline than changes in the depreciation profile.
WPRT Flags Liquidity Needs Despite Lower Debt
As of March 31, 2026, WPRT’s cash and cash equivalents were $24.5 million, down from $27.2 million at the end of 2025. Cash used in operating activities from continuing operations was $3.34 million, due to operating losses and working-capital changes. Investing activities provided $2.56 million, led by $5.84 million of proceeds from a holdback receivable, partially offset by $2.85 million of capital contributions to equity-method investments.
The company estimates that the cash and cash equivalents will not be sufficient to fund operations through the next 12 months, and it is evaluating funding alternatives, a disclosure that raises the stakes around capital access as Westport works to translate Cespira’s growth into improved consolidated results.
WPRT currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Releases From Auto Space
Mobileye Global Inc. (MBLY - Free Report) reported first-quarter 2026 results on April 23. It posted earnings of 12 cents per share, beating the Zacks Consensus Estimate of 8 cents by 58.52%. The bottom line rose 50% year over year, driven by higher shipments of EyeQ system-on-chip. The company posted revenues of $558 million, which beat the Zacks Consensus Estimate of $520 million by 7.36% and increased 27.4% year over year.
Operating cash flow was $75 million, reflecting the company’s ability to convert its ADAS scale into cash generation.
Mobileye also approved a share buyback program of up to $250 million. By the end of the first quarter, MBLY had $1.21 billion in cash, after spending $591 million (net of cash received) on the Mentee Robotics acquisition.
Gentex Corporation (GNTX - Free Report) reported first-quarter 2026 results on April 24. It posted adjusted earnings of 48 cents per share, which beat the Zacks Consensus Estimate of 44 cents by 8.28%. The figure increased 11.6% from 43 cents per share a year ago. Net sales came in at $675 million, topping the consensus mark of $647 million by 4.36%. Revenues rose 17.1% from $577 million in the year-ago quarter, aided by contributions from VOXX and a richer mix of advanced features.
Liquidity improved during the quarter. As of March 31, 2026, GNTX’s cash and cash equivalents were $164.8 million compared with $145.6 million as of Dec. 31, 2025. Short-term investments increased to $10.3 million from $5.4 million.
PACCAR Inc. (PCAR - Free Report) reported first-quarter 2026 results on April 28. It reported earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.13 by 1.8%. The bottom line decreased 21.2% from $1.46 in the year-ago quarter. Consolidated revenues (including trucks and financial services) were $6.78 billion, down from $7.44 billion in the corresponding quarter of 2025. The decline reflected lower industry volumes.
On the balance sheet, cash and marketable securities were $8.60 billion as of March 31, 2026, compared with $9.25 billion as of Dec. 31, 2025, while stockholders’ equity increased to $19.76 billion from $19.26 billion over the same span.