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

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
earnings-and-revenue-growth

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

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for Worksport (1 makes us a bit uncomfortable) you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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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