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Westport Fuel (WPRT) Q4 Earnings Lag Estimates, Revenues Top
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Westport Fuel Systems Inc.’s (WPRT - Free Report) 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.
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise
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 projects consolidated revenues from continuing operations to be $265-$295 million.
Dana has an expected long-term growth rate of 4.4%. Over the past three months, shares of the company have gained 33.2%.
Oshkosh has an expected long-term growth rate of 11.3%. Shares of the company have gained 24.6% over the past three months.
General Motors has an expected long-term growth rate of 8.9%. Shares of the company have gained 24.6% over the past three months.
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Westport Fuel (WPRT) Q4 Earnings Lag Estimates, Revenues Top
Westport Fuel Systems Inc.’s (WPRT - Free Report) 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.
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise
Westport Fuel Systems Inc. Price, Consensus and EPS Surprise | Westport Fuel Systems Inc. Quote
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 projects consolidated revenues from continuing operations to be $265-$295 million.
Zacks Rank & Stocks to Consider
Westport Fuel currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader auto sector are Dana Incorporated (DAN - Free Report) , Oshkosh Corporation (OSK - Free Report) and General Motors Company (GM - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dana has an expected long-term growth rate of 4.4%. Over the past three months, shares of the company have gained 33.2%.
Oshkosh has an expected long-term growth rate of 11.3%. Shares of the company have gained 24.6% over the past three months.
General Motors has an expected long-term growth rate of 8.9%. Shares of the company have gained 24.6% over the past three months.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>