WPRT Stock has been Recoiling after the Recent Financial Results Announcement

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WPRT
WPRT

WPRT prices increased 0.58% to 1.71 USD on 22 March 2022. In order to understand this ascent, we’ll need to look into the most recent developments.

Recent Happenings

The company has been very dynamic since the start of this year on a lot of different grounds.

On Jan 25, 2022, the company designated Mr. Hodge as the new director

On Feb 7, 2022, it was announced that Cummins Inc. (NYSE: CMI) was going to purchase WPRT’s share in the Cummins Westport Joint Venture thereby owning the business alone since the unison concluded on Dec 31, 2021.

A fireside chat discussion was announced between the CEO of WPRT, David Johnson, and research analysts Graham Mattison and Shawn Severson of Waterpower research on Feb 17, 2022; on the subject of expanding the company’s products and portfolios, more specifically to improve them to operate on hydrogen besides natural gas and propane.

Financial Results

More recently, the financial results of Q4 and full-year 2021 were announced on March 14, 2021; the factor which is continuing to impact the stock value to date. Prominent features of the report are as follows:

Fourth Quarter Analytics

  • The revenue was $82.7 Million in Q4 showing a 1% decline compared to the corresponding quarter of 2020.
  • Net income in Q4 of 2021 was $5.3 Million or $0.03 per share revealing a year-over-year development.

Year 2021 Analytics

  • Revenue of $312.4 Million over the financial year 2021 indicating a 24% improvement compared to 2020.
  • Net income of the year 2021 was $13.7 Million or $0.09 per share vs the $7.4 Million net loss in the preceding year.

The Core

The report clearly highlights that Westport Fuel Systems Inc. has been exhibiting improved performance overall. The sales grew 11.24% vs the previous quarter statistics vividly convey just why the stock has been gushing in the pre-market after its close on 14 March 2022. As it stands, a bright prospect for WPRT stock is pretty transparent.

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