|Over a week ago|
Westport reports Q1 EPS 4c, consensus 0c » 17:0105/0605/06/22
Reports Q1 revenue…
Reports Q1 revenue $76.5M, consensus $86.62M. "The first quarter of 2022 was challenging as our industry continues to deal with significant gaseous fuel price fluctuations due to the ongoing uncertainty in supply levels and geopolitical risk," said CEO David M. Johnson. "Despite the challenging macroeconomic environment, our OEM business continues to grow, we generated 21% growth year over year. Looking forward, the long-term outlook for our company is strong. There is still a need for clean, affordable transport and we remain in a prime competitive position; our products are here, available now, and are making a difference today. Our work with hydrogen is generating significant interest for the company and attention globally. Hydrogen HPDI broadens the call for our proprietary HPDI technology, reaching all the way to zero-carbon green hydrogen future that will have a positive impact on the industry and the global transportation market."
|Over a month ago|
Largest borrow rate increases among liquid names » 08:4504/0804/08/22
CELU, FATH, BYND, STRY, UWMC, XSPA, VLTA, ISPO, SJT, WPRT
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Celularity (CELU) 60.15% +5.60, Fathom Digital Manufacturing (FATH) 116.04% +1.17, Beyond Meat (BYND) 17.62% +0.63, (STRY) 22.62% +0.60, UWM Holdings Corp (UWMC) 3.73% +0.60, XpresSpa (XSPA) 3.52% +0.27, Volta (VLTA) 3.76% +0.24, Inspirato (ISPO) 67.16% +0.22, San Juan Basin Royalty Trust (SJT) 10.69% +0.16, and Westport (WPRT) 4.10% +0.15.
Westport price target lowered to $7 from $12 at H.C. Wainwright » 06:0503/1603/16/22
H.C. Wainwright analyst…
H.C. Wainwright analyst Amit Dayal lowered the firm's price target on Westport Fuel Systems to $7 from $12 and keeps a Buy rating on the shares. The analyst reduced near-term expectations to reflect recent developments in Russia and the European Union, and increased volatility in energy prices. He believes revenue risks associated with the situation in Russia are more commercial than operational, however, "providing for a quicker bounce back when stability returns."
Fly Intel: After-Hours Movers » 18:3003/1403/14/22
ID, GTLB, CANO, YALA, WPRT, COUP, DLO, LIFE, ANAB, EXEL
Check out this evening's…
Westport not providing guidance due to fuel prices volatility » 17:0503/1403/14/22
The company states:…
The company states: "The long-term growth potential of our HPDI technology in Heavy-Duty commercial vehicles and our diversified portfolio of gaseous fuel systems and components is poised to capture a share of the global transition to cleaner transportation, especially in promising markets like India. However, against the current backdrop of supply chain disruptions that continue to challenge the automotive industry and the recent volatility in fuel prices, we are not providing quantitative guidance on revenues or profitability for 2022. Since the fourth quarter of 2021, we have observed softness in demand caused by the continued uncertainty of the elevated prices of gaseous fuels relative to diesel and gasoline. At this time, we are uncertain as to the duration of the price fluctuations and their impact on sales volumes but remain cautiously optimistic that price differentials will return to historically normal ranges in the long term."
Westport reports Q4 EPS 3c, consensus 0c » 17:0303/1403/14/22
Reports Q4 revenue…
Reports Q4 revenue $82.7M, consensus $86.6M. CEO David Johnson states: "Westport delivered record annual revenue in 2021 despite customer demand constrained by the effects of lingering COVID restrictions, supply chain shortages and other disruptions that our global industry faces. Our acquisition of Stako contributed strongly to our 2021 performance, and importantly, expanded our product portfolio and manufacturing capabilities. Balance sheet and organizational improvements completed during the year position us well to achieve our mid-and long-term goals. The gross margin pressure we faced in 2021 will be addressed by the economies of scale that will result from continued and accelerating growth. Increasing demand will lead to higher production and sales that drive profitability improvement."
Westport options imply 24.6% move in share price post-earnings » 13:0403/1403/14/22
Pre-earnings options volume in Westport is normal with calls leading puts 4:1. Implied volatility suggests the market is anticipating a move near 24.6%, or 36c, after results are released. Median move over the past eight quarters is 11.9%.
|Over a quarter ago|
Westport price target lowered to $12 from $16 at H.C. Wainwright » 06:0902/0802/08/22
H.C. Wainwright analyst…
H.C. Wainwright analyst Amit Dayal lowered the firm's price target on Westport to $12 from $16 and keeps a Buy rating on the shares. The target drop reflects adjustments to the forward cash flow projections associated with the company's equity distribution from its joint venture with Cummins (CMI) after Westport announced that it is selling its stake of the Cummins Westport Joint Venture.
Westport looking 'far too cheap,' says Craig-Hallum » 11:0102/0702/07/22
Craig-Hallum analyst Eric…
Craig-Hallum analyst Eric Stine notes that it "was an eventful morning" for Westport Fuel Systems (WPRT) with the announcement it has monetized its share of the jointly owned Cummins-Westport spark-ignited IP for $20M along with an agreement with Cummins (CMI) for the initial assessment of Westport's high-pressure direct injection technology using hydrogen. The analyst sees the addition of $20M to an already strong balance sheet as a positive resolution to the end of the CWI JV. In his view, the primary aspect of the announcement is the hydrogen HPDI assessment which is another great example of the high-value and strategic importance of Westport's proprietary HPDI technology in the market as the transportation sector decarbonizes. Add Cummins to the hydrogen HPDI roster while adding $20M to the balance sheet - two more reasons why Westport is "far too cheap at 0.5-times sales," Stine argues. The analyst has a Buy rating and a price target of $12 on Westport's shares.
Cummins to purchase remaining shares in former Cummins Westport JV » 08:0402/0702/07/22
Cummins Inc. (CMI) and…
Cummins Inc. (CMI) and Westport Fuel Systems Inc. (WPRT) have agreed to a share purchase agreement for the sale of Westport's stake in the Cummins Westport Joint Venture with CMI continuing to operate the business as the sole owner. As previously reported, the Cummins Westport Inc. joint venture agreement terminated effective December 31, 2021. As part of the agreement, Cummins also will buy Westport's interest in the JV's intellectual property, developed by the JV in support of the JV's spark ignited engines, with proceeds to Westport of $20,000,000. Cummins and Westport have also agreed to conduct an initial technical assessment of Westport's hydrogen high pressure direct injection system for potential use on CMI's hydrogen applications.