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.
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.
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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