Westport reports Q3 EPS (7c), consensus 0c

Reports Q3 revenue $71.2M, consensus $86.62M. Cash and cash equivalents were $86.5M at the end of the Q3."While economies and our industry continue to be hit with significant headwinds including inflation and dramatically rising energy costs, we are seeing some positive trends emerge and are optimistic about our long-term future. While these headwinds are expected to continue, Westport is preparing for growth and profitability, focused on driving value in new and existing passenger car markets, working directly with key OEMs to advance evaluation of our H2 HPDI solution for long-haul, heavy-duty transport, and enhancing margins throughout the business. Absent the effects of foreign exchange changes, revenue would have increased by 10% year-over-year, a significant improvement given the environment our industry has been facing."