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Westport Fuel Systems Shares Plunge 31% Since Q4 Report
Mar 15, 2023 10:22 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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Westport Fuel Systems (NASDAQ: WPRT) shares dropped more than 31% since the company’s reported Q4 results on Monday, with EPS of ($0.10) coming in worse than the Street estimate of ($0.06). Revenue was $78 million, above the Street estimate of $75 million, but margins were under pressure from higher warranty expenses, lower volumes, and higher input pricing.
The silver lining is in energy price dynamics that continue to improve and could support growth and margin trends, but this could be a late 2023 development, and analysts at RBC Capital think investors will want to see proof of the demand response.
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