Market News

Workhorse Group Drops As Q3 Earnings Fall Short of Estimates

Workhorse Group (NASDAQ: WKHS) stock was on a downward trajectory in morning trading on Tuesday as the manufacturer of electric vans, drones, and telematics software reported Q3 earnings that fell short of estimates.

While the company’s loss per diluted share narrowed to $0.22 in the third quarter versus a loss of $0.63 in the same period last year, it still fell short of analysts’ estimates of a loss of $0.12 per share.

Workhorse reaffirmed its FY22 outlook and expects to generate revenues in the range of $15 million to $25 million, ” while tightening the range of vehicles expected to be manufactured and sold to between 100-200, assuming current supply chain lead times remain unchanged.”

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