Westport Fuel Systems Inc Down 11.46% To $6.41 After Earnings Miss

Westport Fuel Systems Inc (WPRT) missed earnings estimates for Q4 2023 this afternoon.

Analyst expectations for Westport Fuel Systems Inc earnings per share (EPS) were at a loss of $0.51 per share, with the company missing those estimates with a reported EPS loss of $0.81 per share, leading to a negative surprise of $0.3 per share (-59%). Westport Fuel Systems Inc's earnings rose 19% year-over-year as the firm reported an EPS loss of $1.00 per share in its year-ago quarter. The positive annual growth shows the Consumer Cyclical company is performing well amid recent economic conditions.

Consensus estimates for Westport Fuel Systems Inc revenue averaged out to $86.5 million, with the business managing to beat those expectations with reported fourth-quarter revenue of $87.2 million. The $710 thousand (1%) positive revenue surprise led to 12% growth year-over-year as the firm reported revenue of $78 million in its year-ago quarter. The higher earnings growth compared to revenue points to Westport Fuel Systems Inc improving its profit margin.

The stock is down 11.46% to $6.41 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Westport Fuel Systems Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 51. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Westport Fuel Systems Inc is a provider of high-performance, low-emission engine and fuel system technologies utilizing gaseous fuels. The company segment includes Original Equipment Manufacturer (OEM), Independent Aftermarket (IAM), and Corporate. It generates maximum revenue from the OEM segment.