Financial Information

As of June 1st, 2016, Fuel Systems Solutions and Westport Innovations have merged to create Westport Fuel Systems. To view previous Fuel System Solutions financials, visit our Regulatory Filings page.

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Key Financials

(millions of U.S. dollars, except per share amounts and shares outstanding) Quarter ended mar 31
20172016 (1)

Notes:

  1. The merger closed on June 1, 2016. The quarter ended March 31, 2016 does not include Fuel Systems Solutions.
  2. Fully diluted loss per share is not materially different as the effect of conversion of stock options, warrants, and performance share units would be anti-dilutive.
  3. Westport Fuel Systems defines Adjusted EBITDA as EBITDA from continuing operations excluding expenses for stock-based compensation, unrealized foreign exchange gain or loss, and non-cash and other adjustments. Management uses Adjusted EBITDA as a long-term indicator of operational performance since it ties closely to the business units' ability to generate sustained cash flow. Adjusted EBITDA includes the company's share of income from joint ventures.
Total revenue 60.0 24.0
Gross margin 17.5 6.4
GM % 29.2% 27%
Net income (loss) (12.8) (24.6)
Net income (loss) per share—basic and diluted (2) (0.11) (0.38)
Weighted average shares outstanding 110,171,034 64,413,316
Cash and short-term investments 47.7 24.6
Total assets 325.3 209.1
Long-term debt (incl. current portion)
78.4 65.4
Consolidated Adjusted EBITDA (3) (4.1) (11.9)

News Releases

May 11

Westport Fuel Systems Reports First Quarter 2017 Financial Results, 2017 Off to a Strong Start

Westport Fuel Systems Inc. reported financial results for the first quarter ended March 31, 2017, and provided an update on operations.

May 4

Westport Fuel Systems to Announce First Quarter Results On Thursday, May 11, 2017

Westport Fuel Systems Inc. announced today that it will disclose its financial results for the first quarter ended March 31, 2017 on Thursday, May 11, 2017 after market close.

May 1

Cummins Westport “Moves to Zero” with New Natural Gas Engines

Cummins Westport Inc. announced today at the Alternative Clean Transportation (ACT) Expo in Long Beach, California its model year 2018 dedicated natural gas engines for regional haul truck/tractor, vocational and transit, school bus, and refuse applications.

May 1

Westport Fuel Systems Announces the Closing of the Sale of the IMPCO APU Assets

Westport Fuel Systems Inc. today announced the closing of its previously announced sale of the assets of its IMPCO Auxiliary Power Unit business.

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