Westport Fuel Systems Inc.’s (WPRT - Free Report) first-quarter 2019 net loss from continuing operations was 2 cents per share, narrower than the Zacks Consensus Estimate loss of 5 cents. Net loss per share from continuing operations was 10 cents in first-quarter 2018. Net loss from continuing operations in the reported quarter was $3 million compared with $12.6 million in first-quarter 2018.
Westport Fuel logged consolidated revenues of $73.2 million in the reported quarter, up 15% year over year. Moreover, the top line surpassed the Zacks Consensus Estimate of $67 million. This upside was driven by increased aftermarket revenue generation and Westport HPDI 2.0 shipments.
During the quarter under review, consolidated gross margin increased to $17.2 million from $14.6 million in the year-ago quarter. This increase was due to higher revenues.
Adjusted EBITDA amounted to $7.3 million against negative $3.4 million in the prior-year quarter.
In the reported quarter, CWI revenues rose $40.1 million to $92.3 million.
Westport Fuel had cash and cash equivalents of $46 million as of Mar 31, 2019, down from $61.1 million as of Dec 31, 2018.
At the end of first-quarter 2019, net cash flow used for operating activities in continuing operations was $15.2 million in comparison with the prior year’s $12.9 million.
For 2019, the company projects consolidated revenues from continuing operations of $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 AB Volvo (VLVLY - Free Report) , Fox Factory Holding Corp. (FOXF - Free Report) and PACCAR Inc. (PCAR - Free Report) . While Volvo currently sports a Zacks Rank #1 (Strong Buy), Fox Factory and PACCAR carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Volvo has an expected long-term growth rate of 5%. Over the past three months, shares of the company have gained 5.6%.
Fox Factory has an expected long-term growth rate of 16.4%. Over the past three months, shares of the company have gained 20.6%.
PACCAR has an expected long-term growth rate of 6.4%. Share price of the company has increased 5.6% in the past three months.
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