Worksport Ltd reports results for the quarter ended June 30 - Earnings Summary

• Worksport Ltd WKSP.OQ reported a quarterly adjusted loss of 71 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $-1.50. The mean expectation of three analysts for the quarter was for a loss of 83 cents per share. Wall Street expected results to range from -91 cents to -76 cents per share.

• Revenue rose 113.6% to $4.10 million from a year ago; analysts expected $3.89 million.

• Worksport Ltd's reported EPS for the quarter was a loss of 71 cents​.

• The company reported a quarterly loss of $3.73 million.

• Worksport Ltd shares had risen by 33.6% this quarter and lost 58.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6.1% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the business support services peer group is also "buy"

• Wall Street's median 12-month price target for Worksport Ltd is $11.50, about 67.1% above its last closing price of $3.78

This summary was machine generated from LSEG data August 13 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)