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Friday, May 07, 2021 2:59:17 AM
source
https://finance.yahoo.com/news/westport-innovations-wprt-reports-q1-234511460.html
Fri, May 7, 2021, 1:45 AM
Westport Innovations (WPRT) came out with a quarterly loss of $0.02 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this maker of natural-gas engine technology would post earnings of $0.01 per share when it actually produced earnings of $0.03, delivering a surprise of 200%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Westport, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $76.44 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 6.91%. This compares to year-ago revenues of $67.22 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Westport shares have added about 21% since the beginning of the year versus the S&P 500's gain of 11%.
What's Next for Westport?
While Westport has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Westport was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.01 on $77.1 million in revenues for the coming quarter and $0.05 on $352.4 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Recent WPRT News
- Westport to Issue Q1 2024 Financial Results on May 8, 2024 • PR Newswire (US) • 04/23/2024 10:30:00 AM
- Westport to Issue Q1 2024 Financial Results on May 8, 2024 • PR Newswire (US) • 04/23/2024 10:30:00 AM
- Westport to Issue Q1 2024 Financial Results on May 8, 2024 • PR Newswire (Canada) • 04/23/2024 10:30:00 AM
- Westport's Alternative Fuel Technologies Can Play an Important Role in Meeting the Strengthened European Decarbonization Targets for Heavy-Duty Vehicles • PR Newswire (Canada) • 04/11/2024 10:30:00 AM
- Westport's Alternative Fuel Technologies Can Play an Important Role in Meeting the Strengthened European Decarbonization Targets for Heavy-Duty Vehicles • PR Newswire (US) • 04/11/2024 10:30:00 AM
- Westport's Alternative Fuel Technologies Can Play an Important Role in Meeting the Strengthened European Decarbonization Targets for Heavy-Duty Vehicles • PR Newswire (US) • 04/11/2024 10:30:00 AM
- Westport Reports Fourth Quarter and Full Year 2023 Results • PR Newswire (Canada) • 03/25/2024 09:00:00 PM
- Westport Reports Fourth Quarter and Full Year 2023 Results • PR Newswire (US) • 03/25/2024 09:00:00 PM
- Westport Reports Fourth Quarter and Full Year 2023 Results • PR Newswire (US) • 03/25/2024 09:00:00 PM
- Anticipation Builds on Wall Street for Federal Reserve’s Upcoming Policy Moves; WTI and Brent See Upticks • IH Market News • 03/18/2024 11:12:12 AM
- Westport Reschedules Q4 and 2023 Audited Financial Results Release to Post-Market on March 25, 2024 • PR Newswire (US) • 03/12/2024 01:48:00 AM
- Westport Reschedules Q4 and 2023 Audited Financial Results Release to Post-Market on March 25, 2024 • PR Newswire (US) • 03/12/2024 01:30:00 AM
- Westport Reschedules Q4 and 2023 Audited Financial Results Release to Post-Market on March 25, 2024 • PR Newswire (Canada) • 03/12/2024 01:30:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/11/2024 10:58:08 AM
- Westport Announces Signing of Investment Agreement to Establish Previously Announced Joint Venture with Volvo Group • PR Newswire (US) • 03/11/2024 10:30:00 AM
- Westport Announces Signing of Investment Agreement to Establish Previously Announced Joint Venture with Volvo Group • PR Newswire (US) • 03/11/2024 10:30:00 AM
- Westport Announces Signing of Investment Agreement to Establish Previously Announced Joint Venture with Volvo Group • PR Newswire (Canada) • 03/11/2024 10:30:00 AM
- Westport to Issue Fourth Quarter 2023 Financial Results on March 18, 2024 • PR Newswire (US) • 03/04/2024 10:00:00 PM
- Westport to Issue Fourth Quarter 2023 Financial Results on March 18, 2024 • PR Newswire (Canada) • 03/04/2024 10:00:00 PM
- Westport to Issue Fourth Quarter 2023 Financial Results on March 18, 2024 • PR Newswire (US) • 03/04/2024 10:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/26/2024 04:14:05 PM
- Westport Announces Methanol HPDI™ Project with a Leading Global Supplier of Power Solutions for Marine Applications • PR Newswire (US) • 02/26/2024 11:30:00 AM
- Westport Announces Methanol HPDI™ Project with a Leading Global Supplier of Power Solutions for Marine Applications • PR Newswire (US) • 02/26/2024 11:30:00 AM
- Westport Announces Methanol HPDI™ Project with a Leading Global Supplier of Power Solutions for Marine Applications • PR Newswire (Canada) • 02/26/2024 11:30:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/16/2024 04:02:12 PM
FEATURED NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM