Westport Innovations (WPRT) Reports Q2 Loss, Tops Revenue Estimates

Core Insights - Westport Innovations (WPRT) reported a quarterly loss of $0.43 per share, better than the Zacks Consensus Estimate of a loss of $0.55, and an improvement from a loss of $0.60 per share a year ago, resulting in an earnings surprise of 21.82% [1] - The company achieved revenues of $88.64 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.80% and showing an increase from $85.02 million year-over-year [2] - Westport shares have declined approximately 14.7% year-to-date, contrasting with the S&P 500's gain of 12.1% [3] Earnings Outlook - The future performance of Westport's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - Current consensus EPS estimate for the upcoming quarter is -$0.49 on revenues of $84.68 million, and for the current fiscal year, it is -$2.23 on revenues of $343.44 million [7] Industry Context - The Automotive - Original Equipment industry, to which Westport belongs, is currently ranked in the bottom 22% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5][6]