Worksport Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Worksport (NASDAQ:WKSP) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.92m (up by US$1.72m from 2Q 2023).
• Net loss: US$4.01m (loss widened by 5.7% from 2Q 2023).
• US$0.15 loss per share.

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

Worksport Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) missed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 131% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Auto Components industry in the US.

Performance of the American Auto Components industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 5 warning signs for Worksport (1 is significant!) that you should be aware of before investing here.

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