Westport reports 2% revenue fall and net loss for 2022
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By Bradley Osborne - 12th April 2023
Canada – Westport Fuel Systems Inc, a manufacturer of gas engines based in Vancouver, British Columbia, released its results for 2022, which showed a slight fall in its revenues and a significant drop in its earnings compared to the year prior.
In 2022, Westport made USD305.7m, a 2% fall compared to revenues (USD312.4m) reported in 2021. Its 2022 revenues provided a gross margin of USD36.2m, or 12% of its total sales. However, the company’s net income was minus USD32.7m, a massive 339% drop from its positive USD13.7m earnings in 2021.
