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WESTPORT FUEL SYSTEMS INC. (WPRT)

Income Statement Business | Product

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   SourceSourceSourceSourceSourceSourceSourceSource
Revenues:  
    OEM  198.0195.5149.6164.7    
    Other  107.7116.9102.9140.6    
Total revenues   [+]305.7312.4252.5305.3378.3229.8224.9103.3
            Revenue growth   [+]97750.9%23.7%-17.3%-19.3%64.6%2.2%117.7% 
Cost of goods sold  269.5264.3213.0237.1323.0169.6346.7213.6
Gross profit  36.248.239.568.355.360.3-121.8-110.3
            Gross margin  11.8%15.4%15.7%22.4%14.6%26.2%-54.1%-106.7%
Selling, general and administrative   [+]52.149.838.157.767.063.269.252.7
Research and development  23.525.221.025.230.650.159.452.8
Equity in earnings  0.933.724.026.722.712.55.817.6
Other operating expenses  6.4-2.0-4.3-2.5 0.6-163.7-139.9
EBITDA   [+]-37.517.516.623.2-11.9-36.2-76.1-56.3
            EBITDA margin  -12.3%5.6%6.6%7.6%-3.2%-15.8%-33.8%-54.5%
Depreciation  10.712.412.313.413.111.312.810.7
EBITA  -48.25.14.39.8-25.0-47.5-88.9-67.0
            EBITA margin  -15.8%1.6%1.7%3.2%-6.6%-20.7%-39.5%-64.9%
Amortization of intangibles  1.11.61.72.93.43.53.23.0
EBIT   [+]-49.33.52.56.9-28.4-50.9-92.1-70.0
            EBIT margin  -16.1%1.1%1.0%2.2%-7.5%-22.2%-41.0%-67.7%
Non-recurring items   [+]0.10.30.51.51.53.223.822.7
Interest expense  3.44.98.07.39.114.510.85.5
Other income (expense), net   [+]21.47.30.04.10.51.434.2-0.2
Pre-tax income  -31.35.5-5.92.1-38.7-67.3-92.6-98.4
Income taxes  1.4-8.11.42.02.1-4.45.00.7
            Tax rate     91.2% 6.6%  
Net income  -32.713.7-7.40.0-31.5-10.0-97.6-99.2
            Net margin  -10.7%4.4%-2.9%0.0%-8.3%-4.3%-43.4%-96.0%
   
Basic EPS   [+]($0.19)$0.09($0.05)$0.00($0.31)($0.53)($1.07)($1.55)
Diluted EPS   [+]($0.19)$0.08($0.05)$0.00($0.31)($0.53)($1.07)($1.55)
   
Shares outstanding (basic)   [+]171.2160.2137.1134.2132.4119.691.064.1
Shares outstanding (diluted)   [+]171.2162.1137.1144.1132.4119.691.064.1
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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