Westport (WPRT) Q1 2026 Earnings Transcript

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Date

Friday, May 15, 2026 astatine 7 a.m. ET

Call participants

• Chief Executive Officer — Daniel Sceli

• Chief Financial Officer — Elizabeth Owens

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Full Conference Call Transcript

Daniel Sceli: Thank you, Ashley, and bully morning, everyone. I volition crook to our fiscal results. Our Cespira momentum continues to physique with gross up 33% twelvemonth implicit twelvemonth successful the archetypal quarter. That maturation is progressively worldly to West Port, reflecting stronger volumes, broader marketplace adoption of HPDI, and advancement with the 2nd OEM. Importantly, we expect this momentum to proceed done 2026 supported by favorable substance economics, tightening emissions regulations, and increasing OEM and fleet involvement successful applicable debased c solutions. The value for our investors is not lone apical enactment growth, but the fiscal read-through As our Cespira continues to standard and amended operating performance, we expect our backing requirements for the associated task to proceed to decline.

That creates a much nonstop nexus betwixt commercialized execution astatine Cespira and improved superior ratio astatine Westport. The broader marketplace backdrop besides remains supportive. Volvo Trucks precocious announced it has delivered much than 10 1000 state powered trucks globally. Highlighting increasing adoption successful cardinal European markets. While cognitive marketplace probe projects the European LNG dense motortruck marketplace to turn astatine a 12.5% maturation complaint done 2031. Together, those indicators reenforce our presumption that Cespira is participating successful a marketplace with some adjacent word momentum and multiyear maturation potential. Our precocious unit controls concern has besides reflected improved results successful Q1 26 with a 21% summation successful revenue. compared with the aforesaid play past year.

What makes it genuinely meaningful is however we delivered it. Our brand, GFI Control Systems, provides captious components that marque this strategy viable. While AFS ensures that the technologies travel unneurotic arsenic a implicit existent satellite solution, enabling the performance, reliability, and power our customers expect. Adding to this result, we commenced accumulation astatine the expanded merchandise improvement and manufacturing installation successful Cambridge, Ontario and GFI's caller China Hydrogen Innovation Center and manufacturing installation successful Zhengzhou, China. With accumulation underway astatine each facilities, combined with beardown request from ample concern companies, we stay optimistic astir its show this twelvemonth gathering disconnected this beardown start. Moving connected to immoderate caller excitement astatine the ACT league successful Las Vegas.