Westport Fuel Systems Inc. (WPRT) is a leading global driver for a ‘cleaner tomorrow’ cause. It is a major provider of unconventional fuel delivery platforms for low-carbon fuels to the international automotive business. The company’s advanced Fuel Systems technology brings the fuel efficiency and performance utilized in transportation applications.
WPRT stock price during the regular trading on March 14, 2022, fell by 4.86% to be $1.37. Its price inclined gradually by 3.65% at the last check of the aftermarket.
WPRT: Key Financials
On March 14, 2022, WPRT released unaudited fourth quarter 2021 financials for three months ended December 31, 2021. Some important highlights are shared here.
Revenue
Total revenue was $82.7 million in Q4 of fiscal 2021 corresponding to $83.9 million in the corresponding quarter of 2020. The company’s revenue was decreased by 1% over the yearly span.
EPS
Basic and diluted net earnings in the fourth quarter of 2021 were $5.3 million or $0.03 per share compared to $4.1 million or $0.03 per share for the corresponding quarter of 2020. Its net earning increased year-over-year.
WPRT: Events and Happenings
On March 8, 2022, WPRT trading halted and resumed multiple times. On February 17, 2022, WPRT announced its Chief Executive Officer David Johnson presented the company at the Water Tower Research on February 24. On February 07, 2022, WPRT and Cummins Inc. reported about their acquisition contract for the sale of the company’s stake in its joint venture with Cummins. Their joint venture contract ended with effect from December 31, 2021.
On January 27, 2022, WPRT updated on joining a globally-acclaimed Hydrogen Council as its supporting member. The council is an international CEO-level advisory framework that provides a long-term visualization for hydrogen technology’s role in an energy transition.
Conclusion
WPRT stock lost 86% in the previous year primarily due to the pandemic restrictions exercised globally. Its recent stock surge in aftermarket trading is the result of the financial statement released as the company’s earnings gained momentum over the year. For the first quarter of FY2022, the company’s revenue range is $82.5 million versus -$0.02 EPS.
