Westport Fuel Systems

Westport Fuel Systems, Inc. is a transportation technology company. It engages in the engineering, manufacture, and supply of alternative fuel systems and components. The firm operates through the following segments: Transportation, The Cummins Westport, Inc. (CWI) Joint Venture, and Corporate. The Transportation segment designs, manufactures, and sells alternative fuel systems and components for transportation applications. The CWI Joint Venture segment serves the medium and heavy-duty on highway engine markets. The Corporate segment refers to the public company activities, corporate oversight, and general administrative duties. The company was founded on March 20, 1995 and is headquartered in Vancouver, Canada.

Earnings data Q1 2021

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Westport Fuel Systems, Inc. engages in the business of engineering, manufacturing, and supplying alternative fuel systems and components for transportation applications. It operates through the following segments: Original Equipment Manufacturers (OEM), Independent Aftermarket (IAM), and Corporate. The OEM segment includes designing, manufacturing, and selling alternative fuel systems, components, and electronics including the HPDI 2.0 fuel systems product and engineering services. The IAM segment focuses on alternative fuel systems and components that consumers can purchase and have installed onto vehicles to use liquid petroleum or compressed natural gas fuels in addition to gasoline. The Corporate segment is involved in public company activities, corporate oversight, financing, capital allocation, and general administrative duties such as securing intellectual property. The company was founded on March 20, 1995 and is headquartered in Vancouver, Canada.

Westport (WPRT) reported earnings 30 days ago. What's next for the stock?

Why Is Westport (WPRT) Down 19.1% Since Last Earnings Report?

VANCOUVER, BC , Aug. 21, 2023 /PRNewswire/ - Westport Fuel Systems Inc. (TSX: WPRT) (Nasdaq: WPRT), a leading supplier of advanced alternative fuel systems and components for the global transportation industry, announced today that David Johnson, Chief Executive Officer has decided to step down as chief executive officer and will resign from the Board, effective immediately. Tony Guglielmin, who serves on the Westport Board and as Chair of the Audit Committee, will act as interim CEO until such time that a replacement is identified.

Westport Announces Resignation of David Johnson, Chief Executive Officer, and Names Interim CEO

Westport (WPRT) generates an adjusted EBITDA of negative $4 million in Q2 compared with negative $4.3 million recorded in the year-ago period.

Westport (WPRT) Q2 Loss In Line With Estimates, Sales Rise Y/Y

Westport Fuel Systems Inc. (NASDAQ:WPRT ) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET Company Participants Ashley Nuell - Senior Director, Investor Relations David Johnson - Chief Executive Officer Bill Larkin - Chief Financial Officer Conference Call Participants Colin Rusch - Oppenheimer Amit Dayal - H.C. Wainwright Rob Brown - Lake Street Capital Markets Eric Stine - Craig-Hallum Chris Dendrinos - RBC capital Markets Mac Whale - Cormark Securities Bill Peterson - JPMorgan Jeff Osborne - TD Cowen Operator Good morning.

Westport Fuel Systems Inc. (WPRT) Q2 2023 Earnings Call Transcript

VANCOUVER, BC , Aug. 8, 2023 /PRNewswire/ - Westport Fuel Systems Inc. (" Westport ") (TSX: WPRT) (Nasdaq: WPRT), a leading supplier of advanced alternative fuel systems and components for the global transportation industry, reported financial results for the second quarter ended June 30, 2023, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

Westport Fuel Systems Reports Second Quarter 2023 Financial Results

VANCOUVER, BC , Aug. 8, 2023 /PRNewswire/ - Westport Fuel Systems Inc. (TSX: WPRT) (NASDAQ: WPRT), a leading supplier of advanced alternative fuel systems and components for the global transportation industry, announced today it has been designated as the supplier of liquified petroleum gas (LPG) systems to a global original equipment manufacturer (OEM). This is in addition to the previously announced production supply agreement, adding new Euro 7 vehicle platforms planned for production by the OEM.

Westport Awarded Additional Production Supply Agreement for Euro 7 LPG Fuel Systems by Global OEM

Volvo AB

Shares rallied to new multi-month highs after the company disclosed a letter of intent to contribute its HPDI fuel system technology to a new joint venture with key customer Volvo Group. With Volvo expected to acquire 45% of the proposed joint venture for approximately $28 million, the company's HPDI assets would be valued at $62.2 million. Depending on the performance of the joint venture, Volvo has committed to invest up to an additional $45 million.

Westport Fuel Systems: Proposed JV With Volvo Is Positive But Risk Of Near-Term Dilution Remains

Utilizing HPDI Technology to Accelerate the Decarbonization Efforts of Global OEM Customers VANCOUVER, BC , July 19, 2023 /PRNewswire/ - Volvo Group (VOLVb.ST) and Westport Fuel Systems Inc. (TSX: WPRT) (NASDAQ: WPRT), a leading supplier of advanced alternative fuel delivery systems and components for the global transportation industry, have signed a non-binding letter of intent to establish a joint venture to accelerate the commercialization and global adoption of Westport's HPDI™ fuel system technology for long-haul and off-road applications. Volvo and Westport share the vision of creating sustainable transport solutions to accelerate the decarbonization efforts of global trucking, engine, and equipment manufacturers for their customers and society.

Volvo Group and Westport Sign Letter of Intent to Establish Joint Venture to Reduce CO2 Emissions from Long-Haul Transport

VANCOUVER, BC , July 17, 2023 /PRNewswire/ - Westport Fuel Systems Inc. (TSX: WPRT) (Nasdaq: WPRT) announces it will release financial results for the second quarter of 2023 on Tuesday, August 8, 2023, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday August 9, 2023.

Westport to Issue Second Quarter 2023 Financial Results on Tuesday, August 8, 2023

Westport (WPRT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might help the stock continue moving higher in the near term.

Westport (WPRT) Stock Jumps 8.6%: Will It Continue to Soar?

The average of price targets set by Wall Street analysts indicates a potential upside of 270.8% in Westport (WPRT). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

How Much Upside is Left in Westport (WPRT)? Wall Street Analysts Think 270.81%

VANCOUVER, BC , June 29, 2023 /PRNewswire/ - Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX: WPRT) (NASDAQ: WPRT), a global leader in low-emissions alternative fuel transportation technologies, announces the release of its 2022 Environmental, Social and Governance ("ESG") report (the "2022 ESG Report"). The 2022 ESG Report outlines the Company's accomplishments within its core ESG-based areas of focus including: carbon footprint, operational health and safety, diversity, equity and inclusion, responsible sourcing, human rights, and ESG governance.

Westport Releases 2022 ESG Report

VANCOUVER, British Columbia, June 21, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the "Company") (TSX:WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, announced today that it has received a Bid Price Compliance Letter from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Capital Market®.

Westport Regains Compliance with NASDAQ Minimum Bid Requirement

VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT / Nasdaq: WPRT) a global leader in low-emissions alternative fuel transportation technologies is pleased to announce, further to its April 26, 2023 press release, the completion of the Company's proposed consolidation of its common shares ("Common Shares") on the basis of (1) new post-consolidation Common Share for every ten (10) existing pre-consolidation Common Shares (the "Consolidation").

Westport Announces Effective Date of Share Consolidation

Westport Fuel Systems Inc. (NASDAQ:WPRT ) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET Company Participants Ashley Nuell - Senior Director, Investor Relations David Johnson - Chief Executive Officer Bill Larkin - Chief Financial Officer Conference Call Participants Colin Rusch - Oppenheimer Rob Brown - Lake Street Capital Markets Chris Dendrinos - RBC Capital Markets Amit Dayal - H.C. Wainwright Mahima Kakani - JPMorgan Mahima Kakani - JPMorgan Eric Stine - Craig-Hallum Jeff Osborne - TD Cowen Mac Whale - Cormark Securities Operator Thank you for standing by.

Westport Fuel Systems Inc. (WPRT) Q1 2023 Earnings Call Transcript

Westport generates an adjusted EBITDA of negative $4.5 million in Q1 compared with negative $6.1 million recorded in the year-ago period.

Westport (WPRT) Q1 Loss Narrower Than Expected but Wider Y/Y

Westport Innovations (WPRT) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.04 per share a year ago.

Westport Innovations (WPRT) Reports Q1 Loss, Tops Revenue Estimates

VANCOUVER, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport") (TSX:WPRT / Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2023, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

Westport Fuel Systems Reports First Quarter 2023 Financial Results

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Heavy-Duty Trucks Equipped with LNG and H₂ IC Engines in Booth #7084 Heavy-Duty Trucks Equipped with LNG and H₂ IC Engines in Booth #7084

Westport Showcases its Market Ready HPDI™ Fuel System, A Single Solution for Multiple Fuels at ACT Expo 2023

Westport (WPRT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Westport Innovations (WPRT) to Report a Decline in Earnings: What to Look Out for

Further Positions the Company for Leadership in Alternative Fuel Mobility Solutions Further Positions the Company for Leadership in Alternative Fuel Mobility Solutions

Westport Fuel Systems Welcomes New Executive Vice President of Product Development and Chief Technology Officer

VANCOUVER, British Columbia, April 26, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the "Company") (TSX:WPRT / Nasdaq: WPRT) a global leader in low-emissions alternative fuel transportation technologies announced today that on April 26, 2023, it received a written notice (“Notification”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5450(a)(1) (“Nasdaq Listing Rule”). The Company also announced that the Board has approved a consolidation of the Company's issued and outstanding common shares at a consolidation ratio of 10-for-1 (the “Share Consolidation”).

Westport Receives Nasdaq Notification Regarding Minimum Bid Price Compliance and Announces Board of Director Approval of Share Consolidation

VANCOUVER, British Columbia, April 19, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) announced today it will release financial results for the first quarter of 2023 on Monday, May 8 after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Tuesday, May 9, 2023.

Westport to Issue First Quarter 2023 Financial Results on Monday, May 8, 2023

VANCOUVER, British Columbia, April 14, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) announces it has filed a preliminary short form base shelf prospectus (once filed in final form and received by the relevant Canadian securities regulatory authorities, the “Shelf Prospectus”) with the securities commissions in each of the provinces and territories of Canada. The Company's current base shelf prospectus and corresponding shelf registration statement expires on April 16, 2023.

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