Overview

* Westport Q2 revenue declines 11% to $12.5 mln, missing analyst expectations

* Adjusted EBITDA for Q2 at negative $1.0 mln, missing consensus, per LSEG data

* Westport completes sale of Light-Duty segment, receiving $62.5 mln in net proceeds

Outlook

* Company aims to expand Cespira's market presence in Europe, India, South America

* Westport plans to open Hydrogen Innovation Center in China by late 2025

Result Drivers

* REVENUE DECLINE - Decreased sales volumes in High-Pressure Controls & Systems and Heavy-Duty OEM segments led to an 11% revenue drop

* STRATEGIC TRANSFORMATION - Divestiture of Light-Duty segment to focus on commercial transportation and industrial applications

* CESPIRA MOMENTUM - Increased demand in Europe for trucks equipped with Cespira fuel systems, with Volvo noting rising adoption

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $12.50 $75.80

Revenue mln mln (3

Analysts

)

Q2 EPS -$1.98

Q2 Net -$34.30

Income mln

Q2 Miss -$1 mln $2.87

Adjusted mln (3

EBITDA Analysts

)

Q2 -$30 mln

EBITDA

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:

(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.)