Latest news with #WestportFuelSystemsInc
Toronto Star
a day ago
- Business
- Toronto Star
Westport Reports Second Quarter 2025 Financial Results
VANCOUVER, British Columbia, Aug. 11, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. ('Westport') (TSX:WPRT / Nasdaq:WPRT), a supplier of alternative fuel systems and components for the global transportation industry, reported financial results for the second quarter ended June 30, 2025, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated. 'We made significant progress in advancing our strategic transformation this quarter, culminating in the recent successful divestiture of our Light-Duty Segment on July 29, 2025. This transaction strengthens our balance sheet and sharpens our strategic focus on high-impact opportunities in commercial transportation and industrial applications — sectors with few alternatives to affordably decarbonize and where Westport is uniquely positioned to provide affordable solutions that create the greatest potential for long-term growth. Beyond reinforcing our financial position, the divestiture provides us with greater flexibility to invest in innovation and evaluate select strategic acquisitions that can enhance our capabilities or expand our presence in prioritized markets.
Toronto Star
29-07-2025
- Business
- Toronto Star
Westport Announces Closing of Previously Announced Light-Duty Segment Divestiture
VANCOUVER, British Columbia, July 29, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. ('Westport' or the 'Company') (TSX:WPRT / Nasdaq:WPRT), today announced the successful closing of the previously announced transaction to divest its Light-Duty Segment and outlines its strategic vision for future growth, emphasizing expansion of market share, entering new markets and right sizing its current operations. Today, Westport closed the sale of the Light-Duty Segment to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. ('Heliaca Investments'), a Netherlands based investment firm supported by Ramphastos Investments Management B.V., a prominent Dutch venture capital and private equity firm (the 'Transaction'). The Transaction, initially announced on March 31, 2025, includes the sale of Westport Fuel Systems Italia S.r.l., encompassing the Light-Duty OEM, delayed OEM, and independent aftermarket businesses. Total consideration for the assets was a base price of approximately $79.5 million (€67.7 million), subject to certain adjustments, along with potential earnouts of up to a revised estimate of $3.9 million (€3.3 million) based on future performance milestones.
Hamilton Spectator
29-07-2025
- Automotive
- Hamilton Spectator
Westport Announces Closing of Previously Announced Light-Duty Segment Divestiture
VANCOUVER, British Columbia, July 29, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. ('Westport' or the 'Company') (TSX:WPRT / Nasdaq:WPRT), today announced the successful closing of the previously announced transaction to divest its Light-Duty Segment and outlines its strategic vision for future growth, emphasizing expansion of market share, entering new markets and right sizing its current operations. Today, Westport closed the sale of the Light-Duty Segment to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. ('Heliaca Investments'), a Netherlands based investment firm supported by Ramphastos Investments Management B.V., a prominent Dutch venture capital and private equity firm (the 'Transaction'). The Transaction, initially announced on March 31, 2025, includes the sale of Westport Fuel Systems Italia S.r.l., encompassing the Light-Duty OEM, delayed OEM, and independent aftermarket businesses. Total consideration for the assets was a base price of approximately $79.5 million (€67.7 million), subject to certain adjustments, along with potential earnouts of up to a revised estimate of $3.9 million (€3.3 million) based on future performance milestones. 'The successful completion of the disposition of our Light-Duty Segment marks a pivotal step in strengthening our balance sheet,' said Dan Sceli, Chief Executive Officer of Westport Fuel Systems. 'More importantly, it allows Westport to sharpen our focus on the larger, higher-growth opportunities ahead, including providing the most economical solutions for heavier duty and high horse power commercial mobility and industrial applications that also deeply decarbonize these challenging segments – where we believe our products and technologies can deliver the greatest value.' The New Westport With the successful completion of the Light-Duty Segment divestiture, Westport is taking the necessary steps to execute on a new and focused integrated business strategy. The Company recognizes the evolving macroeconomic environment and is positioning itself to capitalize on renewed market momentum, drive operational excellence, and deliver on key financial objectives. 'The transportation landscape is shifting, and customer demand for cleaner, smarter, and more sustainable solutions continues to accelerate,' added Sceli. 'We're seeing renewed attention on CNG and LNG fuelled platforms and Westport is uniquely positioned to deliver the necessary products and technologies. By leveraging our core strengths in fuel-agnostic, high-pressure fuel systems, we aim to meet growing market demand and provide our customers with reliable solutions that perform – and in many cases are more affordable than the incumbant engines.' During the upcoming Q2 financial results conference call, Westport will be covering additional details about the transaction and Westport's strategy ahead. We will focus on key priorities, including: Westport's key focus going forward recognizes both the opportunities and headwinds in overall market conditions. We have initiated a comprehensive internal process to review additional ways to maximize our economic benefit from this recent transaction for our stakeholders. We look forward to providing additional insight and updates when we report Q2 2025 results on Monday, August 11, 2025, after market close. About Westport Fuel Systems Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions. Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals – without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality. Westport Fuel Systems is headquartered in Vancouver, Canada. For more information, visit . Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the anticipated benefits of the Transaction, including potential earn-out payments, the ability to strengthen our balance sheet, the ability to capitalize on higher- growth opportunities , and our expectations regarding the future success of our business. Other forward-looking statements included in the release include those relating to Westport's future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to governmental policies, regulation and approval, the achievement of the performance criteria required for the earnout described above, purchase price adjustments contained in the Agreement, the demand for our products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein . Investor Inquiries: Investor Relations T: +1 604-718-2046 E: invest@
Yahoo
15-05-2025
- Business
- Yahoo
Westport Fuel Systems Inc (WPRT) Q1 2025 Earnings Call Highlights: Strategic Shifts and ...
Revenue: $71 million for Q1 2025, a 9% decrease compared to Q1 2024. Cespira Revenue: $16.7 million, not included in top line due to equity accounting. Net Loss: Improved to $2.5 million from $13.6 million in Q1 2024. Gross Margin: Increased to $15.2 million or 21% of revenue, up from $11.7 million or 15% in Q1 2024. Operating Expenditures: Reduced by $8 million year-over-year. Adjusted EBITDA: Improved to nil from a loss of $6.6 million in Q1 2024. Light-Duty Revenue: $64.2 million, up from $63.3 million in Q1 2024. High Pressure Control & Systems Revenue: $1.4 million, down from $2.4 million in Q1 2024. Heavy-Duty OEM Revenue: $5.4 million, decreased due to transition to Cespira. Cash and Cash Equivalents: $32.6 million as of March 31, 2025, down from $37.6 million at December 31, 2024. Net Cash Used in Operating Activities: $4.9 million for Q1 2025. Warning! GuruFocus has detected 3 Warning Signs with WPRT. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Westport Fuel Systems Inc (NASDAQ:WPRT) reported a significant improvement in net loss, reducing it to $2.5 million from $13.6 million in Q1 2024. Gross profit increased by $3.5 million, and operating expenditures decreased by $8 million, indicating improved operational efficiency. The company is focusing on high-growth areas by divesting its Light-Duty business to concentrate on long-haul and heavy-duty transport solutions. Cespira, the joint venture with Volvo, generated $16.7 million in revenue, showcasing strong performance and potential for future growth. Westport Fuel Systems Inc (NASDAQ:WPRT) is strategically positioned as a leader in alternative fuels, with innovations like the CNG HPDI solution enhancing its market offerings. Reported revenue for Q1 2025 was $71 million, a 9% decrease compared to the same period last year. The transition of the Heavy-Duty OEM business into Cespira resulted in a shift of revenue, impacting reported figures. High Pressure Control & Systems revenues decreased to $1.4 million from $2.4 million in Q1 2024, primarily due to a slowdown in the hydrogen industry. Cash and cash equivalents decreased to $32.6 million from $37.6 million at the end of 2024, indicating a reduction in liquidity. The hydrogen infrastructure development is slowing, which could delay the adoption of hydrogen-powered automotive and industrial applications. Q: Just to clarify on the divestiture. Is this closing in 2Q or has it already been closed? A: Closing in Q2. Q: And that is when the cash proceeds, et cetera, will show up in the Q2 financials? Or will we see those in the third quarter financials? A: We expect to close by the end of the quarter, so the cash should show up in our June 30 balance sheet. Q: With respect to Cespira margins going forward, any color on what the path to higher margins looks like? Is it just more volume that will drive this? A: Getting Cespira profitable is a combination of things. Volume is key, along with reducing costs and managing the supply base better. Q: Last quarter, you mentioned the CNG related opportunity in North America. Any progress on that front? A: The pendulum is swinging back to natural gases. The hydrogen solutions are further off than expected, and the new US administration is pushing for natural gas, which should create opportunities. Q: Is China going to be a focus for you as well in the new emerging Westport? A: Yes, China is important, representing 50% of our high-pressure components business. We are seeing natural gas accelerate in China, and we are developing products for customers there. Q: Regarding the development of a CNG HPDI solution, how long would it take for Volvo to bring it to North America if they decide to? A: Engine development is a long cycle, typically about four years, mainly due to the certification process. We are proactively working to shorten this cycle. Q: On the High-Pressure Controls business, what growth opportunities do you see in that segment? A: We have a strong book of business in hydrogen components, and we are pivoting to include CNG components. The market is pulling for local supply, especially in China. Q: On the Cespira business, where is the growth coming from, and what are the dynamics? A: Growth is primarily in Europe, with Volvo marketing heavily and exploring opportunities in India. The 25% growth was built into our business plan. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
14-05-2025
- Business
- Yahoo
Westport's Q1 Loss Narrower Than Expected, Revenues Fall Y/Y
Westport Fuel Systems Inc. WPRT reported a loss of 14 cents per share in the first quarter of 2025, narrower than the Zacks Consensus Estimate of a loss of 47 cents. The company had incurred a loss of 79 cents in the year-ago registered consolidated revenues of $71 million, which missed the Zacks Consensus Estimate of $72 million. The top line also fell from $77.6 million generated in the corresponding quarter of 2024. The company incurred an adjusted EBITDA loss of $0.1 million compared with a loss of $9.2 million recorded in the year-ago period. Westport Fuel Systems Inc. price-consensus-eps-surprise-chart | Westport Fuel Systems Inc. Quote From the third quarter of 2024, Westport has started reporting its results under four reportable segments: Cespira, Light-Duty, High-Pressure Controls and Systems, and Heavy-Duty OEM. Cespira is Westport's HPDI joint venture with Volvo The segment reported net sales of $16.7 million, which missed our estimate of $22.8 million and incurred an operating loss of $7.1 million in the first quarter of Net sales of the segment totaled $64.2 million, which increased from $63.3 million in the first quarter of 2024 and surpassed our estimate of $63.8 million. The upside was mainly due to higher sales to light-duty original equipment manufacturer (OEM) and delayed OEM businesses. Gross profit rose to $14 million (22% of revenues) from the year-ago period's $12.4 million (20% of revenues), primarily due to an increase in sales to European customers and lower sales in developing Controls and Systems: Net sales of the segment totaled $1.4 million compared with $2.4 million in the year-ago period. The figure also missed our estimate of $1.6 million. A slowdown in hydrogen infrastructure development has resulted in slower adoption of hydrogen-powered solutions, which has resulted in a year-over-year decline. In the reported quarter, gross profit fell to $0.2 million of revenues (14% of revenue) from $0.4 million (17% of revenues) in the year-ago period due to lower sales volume, which increased the per-unit manufacturing costs. Heavy-Duty OEM: In the reported quarter, net sales of the segment fell to $5.4 million from $11.9 million in the year-ago quarter. The metric also missed our estimate of $6.7 million. The year-over-year decline resulted from the continuation of the business in profit totaled $1 million (19% of revenues) against a gross loss of $1.1 million in the first quarter of 2024. Westport had cash and cash equivalents (including restricted cash) of $32.6 million as of March 31, 2025, down from $37.6 million as of Dec. 31, 2024. Long-term debt decreased to $17.9 million as of March 31, 2025, from $19.1 million as of Dec. 31, 2024. Westport carries a Zacks Rank #3 (Hold) at better-ranked stocks in the auto space are Ferrari N.V. RACE and Standard Motor Products, Inc. SMP. RACE sports a Zacks Rank #1 (Strong Buy), while SMP carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for RACE's 2025 sales and earnings implies year-over-year growth of 12.37% and 4.8%, respectively. EPS estimates for 2025 and 2026 have improved 30 cents and 36 cents, respectively, in the past seven Zacks Consensus Estimate for SMP's 2025 sales and earnings implies year-over-year growth of 17.1% and 12.62%, respectively. EPS estimates for 2025 and 2026 have improved 6 cents and 2 cents, respectively, in the past 30 days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Standard Motor Products, Inc. (SMP) : Free Stock Analysis Report Westport Fuel Systems Inc. (WPRT) : Free Stock Analysis Report Ferrari N.V. (RACE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio Error in retrieving data
