From Nasdaq: 2024-11-15 10:12:00

Westport Fuel Systems Inc. (WPRT) reported a loss of 22 cents per share in Q3 2024, beating estimates. Revenues were $66.2 million, below expectations, with an adjusted EBITDA loss of $0.8 million. The company now reports under five segments, with Cespira showing an operating loss of $5.3 million.

In the third quarter, Cespira, Light-Duty, High-Pressure Controls and Systems, Heavy-Duty OEM, and Corporate were the five segments reported by Westport Fuel Systems Inc. Light-Duty saw an increase in net sales, while High-Pressure Controls and Systems experienced a decline due to slower hydrogen adoption.

The financials for Westport Fuel Systems Inc. show cash and cash equivalents of $33.26 million and long-term debt of $23.5 million as of Sept. 30, 2024. WPRT currently holds a Zacks Rank #2 (Buy), with other top-ranked auto stocks like Dorman Products, Tesla, and BYD Company also showing strong potential for growth.

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Read more at Nasdaq: Westport Q3 Earnings Beat Expectations, Revenues Decline Y/Y