Overview

* Westport Q3 revenue declines but beats analyst expectations

* Company ends Q3 with $33.1 mln in cash, enhancing liquidity

Outlook

* Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

* LIGHT-DUTY DIVESTITURE - Revenue decline due to planned divestiture of Light-Duty segment, allowing focus on core heavy-duty systems

* GROSS MARGIN IMPROVEMENT - Gross margin increased to 31% from 14% due to higher margin engineering services revenue

* CESPIRA GROWTH - Cespira joint venture deliveries increased, supported by aftermarket sales growth and easing supply chain constraints

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.6 mln $1.12

Revenue mln (5

Analysts

)

Q3 EPS -$0.79

Q3 Net -$13.7

Income mln

Q3 Beat -$5.9 -$6.03

Adjusted mln mln (4

EBITDA Analysts

)

Q3 -$12.8

EBITDA mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)