Auto Components News

Worksport Third Quarter 2022 Earnings: EPS Beats Expectations, Revenues Lag

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Worksport (NASDAQ:WKSP) Third Quarter 2022 Results

Key Financial Results

  • Net loss: US$2.88m (loss widened by 39% from 3Q 2021).
  • US$0.17 loss per share (further deteriorated from US$0.15 loss in 3Q 2021).
earnings-and-revenue-growth
NasdaqCM:WKSP Earnings and Revenue Growth November 16th 2022

All figures shown in the chart above are for the trailing 12 month (TTM) period

Worksport EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 82%. Earnings per share (EPS) exceeded analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 135% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in the US.

Performance of the American Auto Components industry.

The company’s shares are down 1.7% from a week ago.

Risk Analysis

What about risks? Every company has them, and we’ve spotted 4 warning signs for Worksport (of which 1 is potentially serious!) you should know about.

Valuation is complex, but we’re helping make it simple.

Find out whether Worksport is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

View the Free Analysis

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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