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Worksport Ltd (WKSP)
:WKSP
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Earnings Data
Report Date
―TBA Not Confirmed
Period Ending
―Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 15, 2019
|% Change Since: -5.75%
|Next Earnings Date:Aug 16, 2019
Earnings Call Sentiment|Positive
The earnings call highlights substantial revenue growth and a strong strategic position with new product launches and government sales expansion. However, challenges in margin improvement and uncertainty in 2024 revenue guidance indicate areas of caution.Company Guidance
During Worksport's Q3 2024 earnings call, the company highlighted several key financial metrics and strategic initiatives. Worksport reported approximately $3.1 million in revenue for Q3, a remarkable 581% increase from the same period in 2023. This growth was driven by a 63% revenue increase from Q2 2024 and a significant rise in B2B and B2C sales. The gross profit for the quarter was $247,000, with product margins in the B2C segment expected to reach up to 51% and B2B white label margins targeting 25% to 40% in the future. Worksport is projecting revenues between $25 million and $34.5 million for 2025, with plans to achieve cash flow positivity. The company also launched several products, including the COR and SOLIS energy systems, and began sales to the U.S. government. With a $6.1 million inventory balance, Worksport is poised for continued growth without significant supply chain concerns.Record Revenue Growth
Worksport reports top line revenue of approximately $3.1 million, a 581% year-over-year increase from Q3 of 2023's $458,000.
Government and International Sales Expansion
Commencement of sales to the U.S. government and first-ever B2B order from a customer in Puerto Rico, signaling significant expansion into new territories.
New Product Launches and Innovations
Launch of AL4 tonneau cover expected in late Q4 2024 and market beta release of COR and SOLIS products, anticipated to drive significant growth in 2025.
Strategic Cost Savings Program
Initiation of a $2 million strategic cost savings program aimed at enhancing operational efficiency without impacting revenue growth.
Robust Inventory and Production Capacity
Maintaining a healthy inventory balance of approximately $6.1 million with production capacity optimized to produce over 200 tonneau covers per day.
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WKSP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WKSP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $0.87 | $0.73 | -16.09% |
| Aug 13, 2024 | $0.68 | $0.66 | -2.94% |
| Feb 06, 2024 | $1.24 | $1.22 | -1.61% |
| Nov 15, 2023 | $1.41 | $1.70 | +20.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Worksport Ltd (WKSP) report earnings?
Currently, no data Available
What is Worksport Ltd (WKSP) earnings time?
Currently, no data Available
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is WKSP EPS forecast?
Currently, no data Available
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