On May 14, we issued an updated research report on Westport Fuel Systems Inc. WPRT .
The company reported first-quarter 2018 results on May 10. Westport Fuel Systems reported adjusted net loss from continuing operations of 10 cents per share, narrower than the Zacks Consensus Estimate of a loss of 11 cents. Net loss in the prior-year quarter was 12 cents per share.
During the reported quarter, Westport Fuel Systems recorded consolidated revenues of $67.6 million, up 13% year over year. Also, the top line surpassed the Zacks Consensus Estimate of $61.1 million. This upside was driven by the rise of euro vis-a-vis the U.S. dollar, solid sales in the European aftermarket and delayed original equipment manufacturing (OEM) business, along with the launch of Westport HPDI 2.0 product.
The company regularly makes investments and acquisitions related to technology and businesses that complement or help in the commercialization of its products. In 2017, the company divested industrial business assets for gross proceeds of $87.5 million. This positioned Westport Fuel Systems to focus on the transportation sector.
The Zacks Consensus Estimate for the current quarter and the current-year losses have remained unchanged over the past 30 days. In the past six months, Westport Fuel Systems has underperformed the industry
it belongs to. The company's shares have lost 21.5% over this period compared with 4.3% rise recorded by the industry. Currently, Westport Fuel Systems has a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are Oshkosh Corporation OSK , Ferrari N.V. RACE and Gentex Corporation GNTX . While Oshkosh and Ferrari sport a Zacks Rank #1 (Strong Buy), Gentex carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here .
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 14.5% over the past year.
Ferrari has an expected long-term growth rate of 17.3%. Over the past year, shares of the company have gained 59.8%.
Gentex has an expected long-term growth rate of 13%. In a year's time, shares of the company have gained 17%.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oshkosh Corporation (OSK): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis Report Ferrari N.V. (RACE): Free Stock Analysis Report Westport Fuel Systems Inc. (WPRT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research