Worksport QX earnings beat estimates, revenue misses forecast
Truck bed cover maker Worksport reported adjusted earnings per share above expectations but revenue below analyst projections for the quarter.
Worksport reported adjusted earnings per share of $0.04 above Wall Street estimates for the quarter, while revenue fell short of analyst forecasts.
The company, which manufactures and sells truck bed covers and accessories, disclosed adjusted EPS of $0.04 above the consensus estimate of $0.00, according to preliminary results. Revenue totaled $1.2 million, missing the $1.4 million forecast compiled by analysts.
Worksport attributed the revenue shortfall to supply chain disruptions and lower-than-expected demand for its products during the period. The company did not provide specific guidance for the current quarter or full year in its preliminary release.
Shares of Worksport were down 5% in after-hours trading following the announcement. The stock has declined approximately 12% over the past month amid broader market weakness in small-cap equities.
The company plans to release detailed financial results and host an earnings call in the coming weeks to discuss operational performance and outlook.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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