Westport Innovations Earnings: Here’s Why the Stock is Rising Now
Westport Innovations Inc. (NASDAQ:WPRT) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.52%.
Westport Innovations Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.64 in the quarter versus EPS of $-0.30 in the year-earlier quarter.
Revenue: Decreased 17.72% to $82.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Westport Innovations Inc. reported adjusted EPS loss of $0.64 per share. By that measure, the company missed the mean analyst estimate of $-0.45. It beat the average revenue estimate of $75.9 million.
Quoting Management: “There has been a transformational shift in the opportunity for natural gas solutions for transportation,” said David Demers , CEO of Westport. “Global infrastructure partners and original equipment manufacturers (OEMs) covering multiple platforms are signing up to develop natural gas products with Westport. As a result of this shift, we realigned our business units to focus on product sales and marketing, while expanding on corporate and technology development investments.”
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