Welcome to our dedicated page for Westport Fuel Systems news (Ticker: WPRT), a resource for investors and traders seeking the latest updates and insights on Westport Fuel Systems stock.
Westport Fuel Systems Inc (WPRT) is a global leader in advanced alternative fuel technologies, delivering clean energy solutions for transportation sector decarbonization. This page provides investors and industry stakeholders with timely, verified updates on the company’s strategic initiatives and market developments.
Access the latest press releases, earnings reports, and announcements covering WPRT’s engineering innovations, OEM partnerships, and aftermarket solutions. Track progress in natural gas, hydrogen, and renewable fuel systems designed to reduce emissions across global transportation networks.
Key updates include product launches, regulatory milestones, joint ventures, and financial performance. Our curated news collection ensures you stay informed on WPRT’s role in advancing sustainable mobility while maintaining compliance with evolving environmental standards.
Bookmark this page for direct access to Westport Fuel Systems’ official communications and analysis of their clean energy technology roadmap. Regularly updated to provide a comprehensive view of the company’s contributions to low-carbon transportation solutions.
Westport Fuel Systems (TSX/Nasdaq: WPRT) has announced key upcoming corporate events. The company will release its Q1 2025 financial results on Tuesday, May 13, 2025, after market close, followed by a conference call and webcast on Wednesday, May 14, 2025, at 10:00 a.m. ET.
Additionally, Westport will host its 2025 Annual General and Special Meeting virtually on May 15, 2025, at 10:00 a.m. PT. Shareholders are encouraged to vote in advance using the provided voting instruction form or proxy form. The virtual meeting will be accessible online where registered shareholders and appointed proxyholders can participate, vote, and submit questions during the live webcast.
Westport Fuel Systems (WPRT) reported its Q4 and full-year 2024 financial results, showing mixed performance. Full-year revenue was $302.3 million, with Q4 revenue at $75.1 million. The company posted a net loss of $21.8 million ($1.27 per share) for 2024, an improvement from $49.7 million loss in 2023.
Key developments include the formation of Cespira, a joint venture with Volvo Group, focused on HPDI technology commercialization. The company announced plans to divest its Light-Duty business, with a proposed sale of Westport Fuel Systems Italia for $73.1 million to Heliaca Investments.
The company's financial position shows $37.6 million in cash and cash equivalents, with operating activities generating $7.2 million in cash. However, management expressed substantial doubt about continuing as a going concern, citing the need for additional funding to support operations through the next twelve months.
Westport Fuel Systems (TSX/Nasdaq: WPRT) has announced a binding agreement to sell its Light-Duty segment to Heliaca Investments for $73.1 million, with potential earnouts of up to $6.5 million. The transaction, expected to close in late Q2 2025, includes the light-duty OEM, delayed OEM, and independent aftermarket businesses.
This strategic divestment allows Westport to focus on providing solutions for hard-to-decarbonize mobility and industrial applications, centered around HPDI technology and the Cespira joint venture. The company will concentrate on the heavy-duty truck, off-road, and industrial markets, leveraging natural gas (LNG, CNG, RNG) as its foundation while developing hydrogen solutions.
The proceeds will strengthen Westport's balance sheet and enable strategic acquisition opportunities. Post-closing, the company plans to restructure its cost base to reflect a smaller, more efficient organization.
Westport Fuel Systems (TSX/Nasdaq: WPRT) has scheduled the release of its Q4 and full year 2024 financial results for Monday, March 31, 2025, before market open. The company will host a conference call and webcast on the same day at 1:30 p.m. ET (10:30 a.m. PT) to discuss the financial results and corporate developments.
Participants can register up to 60 minutes before the event through the provided registration link, after which they will receive dial-in information and a unique PIN. The webcast will be archived on Westport's website with replay access available at their investor relations portal.
Westport Fuel Systems announced that Cespira, its High Pressure Direct Injection (HPDI) joint venture with Volvo Group, has appointed Carlos Gonzalez as President and CEO, effective April 1, 2025. Gonzalez succeeds Dan Sceli, who served as interim CEO since the joint venture's formation in June 2024 and will remain on Cespira's board.
Gonzalez brings over 24 years of automotive and commercial vehicle industry experience, including 12 years at ZF Group where he most recently served as Vice President and Global Key Account Executive for TRATON Group. His previous experience includes roles at General Dynamics ELS, Continental AG, and Lear He holds engineering degrees from Universitat Rovira i Virgili and Universidad Europea de Madrid, along with executive training from Duke University, Insead Business School, and IESE Business School.
Westport Fuel Systems (TSX/Nasdaq: WPRT) announced the retirement of Brenda Eprile from its Board of Directors, effective January 6, 2025. Eprile served on the Board for 11 years, and the company is currently evaluating alternatives to fill the vacancy with an independent director. Board Chair Dan Hancock expressed gratitude for Eprile's leadership and dedication during her tenure.
Westport Fuel Systems reported Q3 2024 financial results with revenues decreasing 14% to $66.2 million compared to $77.4 million in Q3 2023. The company posted a net loss of $3.9 million, improving from an $11.9 million loss year-over-year. The revenue decline was primarily due to the transition of Heavy-Duty OEM revenues to Cespira, their HPDI joint venture with Volvo Group, which generated $16.2 million in revenue. Adjusted EBITDA improved to negative $0.8 million from negative $3.0 million in Q3 2023. The company reduced operating expenses by approximately 40% compared to the same period last year.
Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) has established an at-the-market equity offering program (ATM Program) to issue and sell up to US$35 million of common shares. The program, effective until June 18, 2025, or earlier completion, allows Westport to offer shares through the TSX and Nasdaq at prevailing market prices. Craig-Hallum Capital Group , H.C. Wainwright & Co., , and Cormark Securities Inc. will act as agents. Proceeds will primarily fund investments in Westport's hydrogen business, research and development, and general corporate purposes. The offering is supported by a prospectus supplement to the company's existing shelf prospectus and U.S. base prospectus.
Westport Fuel Systems reported Q2 2024 financial results, highlighting a 2% decrease in revenues to $83.4 million. The company achieved a net income of $5.8 million, compared to a net loss of $13.2 million in Q2 2023. This improvement was primarily due to a $13.3 million gain from the formation of the HPDI joint venture with Volvo Group. Westport also revised its segment reporting, now including five key segments: HPDI JV, Light-Duty, High-Pressure Controls and Systems, Heavy-Duty OEM, and Corporate. The company's Adjusted EBITDA improved to negative $2.0 million from negative $4.0 million in the same period last year. Cash and cash equivalents stood at $41.5 million at the end of Q2 2024.
Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) has announced that it will release its Q2 2024 financial results on Tuesday, August 13, 2024, after market close. The company will hold a conference call and webcast to discuss these results and other corporate developments on Wednesday, August 14, 2024, at 10:00 a.m. ET (7:00 a.m. PT).
Interested participants can register for the call up to 60 minutes before the event through the provided link. Upon registration, they will receive dial-in information and a unique PIN. The webcast will be archived on Westport's website, and a replay will be available starting August 15, 2024.
