Westport Reports Second Quarter 2024 Financial Results, Revises Segment Reporting

VANCOUVER, British Columbia, August 13, 2024 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“West gate“) (TSX:WPRT / Nasdaq:WPRT), a leading supplier of advanced alternative fuel systems and components for the global transportation industry, reported financial results for the second quarter ended June 30, 2024 and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

“In the second quarter of 2024, we remained focused on implementing the company’s three strategic pillars: unlocking the potential of our HPDI joint venture, improving operational excellence, and continuously innovating to shape the world’s hydrogen-powered future. We celebrated several achievements that align with our priorities and continue to recognize that we have more work to do. The closing of our HPDI joint venture with Volvo Group in June was a transformative step forward and represents one of many steps we are taking to evolve the business. Our financial performance in the quarter was strong, with results from our cost-saving initiatives, along with recent growth projects, delivering demonstrable margin improvement.