Workhorse Group (WKHS) Reports Q2 Loss, Lags Revenue Estimates
Workhorse Group (WKHS) came out with a quarterly loss of $1.40 per share in line with the Zacks Consensus Estimate. This compares to loss of $2.40 per share a year ago.
Investors Should Stay Far, Far Away From Faraday Future Stock
Faraday Future (NASDAQ: FFIE ) reminds me of four other, largely unsuccessful electric-vehicle makers: Workhorse (NASDAQ: WKHS ), Mullen (NASDAQ: MULN ), Canoo (NASDAQ: GOEV ), and Nu Ride (OTCMKTS: NRDE ), formerly known as Lordstown Motors. Like those other firms, Faraday talks a great deal about unimpressive future plans and partnerships that are either unremarkable or unspecific or both.
WKHS Stock Alert: Workhorse Pops on EV Contract
Workhorse (NASDAQ: WKHS ) stock is up more than 25% today after the commercial electric vehicle (EV) company announced that it had been awarded a procurement contract from government agency Sourcewell for Class 4-8 chassis and cabs and related equipment and service. “Sourcewell is dedicated to streamlining the procurement process and combines the purchasing power of numerous agencies into a single cooperative group,” said Workhorse.
Workhorse (WKHS) Adds Eco Auto to Its Certified Dealer Network
Workhorse (WKHS) joins hands with Eco Auto, located in Tewksbury, MA, to expand its Certified Dealer Network.
Has Workhorse stock regained Nasdaq compliance?
Workhorse Group (NASDAQ: WKHS) is in focus this morning after it started trading on a split-adjusted basis. Workhorse stock is losing after the stock split Last week, the electric vehicles company announced a reverse stock split (1-for-20) to regain compliance with requirements to remain listed on Nasdaq.
Will a 1-for-20 Reverse Split Save Workhorse (WKHS) Stock?
Troubled electric vehicle (EV) company Workhorse (NASDAQ: WKHS ) just held a 1-for-20 reverse stock split to maintain the Nasdaq's minimum bid price requirement. The reverse split brought the price of shares from 15 cents to $3 apiece.
Workhorse (WKHS) Stock Plunges 11% on 1-for-20 Reverse Stock Split
Workhorse (NASDAQ: WKHS ) stock is a hot topic on Thursday after the technology company announced plans for a one-for-20 reverse stock split. Workhorse is moving forward with plans for a reverse stock split after getting approval from investors during its 2024 Annual Shareholder Meeting.
Workhorse Group Inc. (WKHS) Q1 2024 Earnings Call Transcript
Workhorse Group Inc. (NASDAQ:WKHS ) Q1 2024 Results Conference Call May 24, 2024 10:00 AM ET Company Participants Stan March - VP, Corporate Development and Communications Rick Dauch - Chief Execuitve Officer Bob Ginnan - Chief Financial Officer Conference Call Participants Mike Shlisky - D.A. Davidson Jeff Osborne - TD Cowen Craig Irwin - ROTH Capital Partners Operator Hello, and welcome to the Workhorse Group Q1 2024 Earnings Conference Call.
Workhorse Group (WKHS) Reports Q1 Loss, Lags Revenue Estimates
Workhorse Group (WKHS) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.15 per share a year ago.
Workhorse Group (WKHS) Reports Q1 Loss, Lags Revenue Estimates
Zacks Equity Research Tale of the Tape Workhorse Group (WKHS Quick QuoteWKHS - Free Report) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25%. A quarter ago, it was expected that this truck and drone manufacturer would post a loss of $0.11 per share when it actually produced a loss of $0.18, delivering a surprise of -63.64%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Workhorse, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $1.34 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 55.37%. This compares to year-ago revenues of $1.69 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Workhorse shares have lost about 33.3% since the beginning of the year versus the S&P 500's gain of 11.2%.What's Next for Workhorse?While Workhorse has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Workhorse: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $4.5 million in revenues for the coming quarter and -$0.30 on $65 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, ChargePoint Holdings, Inc. (CHPT Quick QuoteCHPT - Free Report) , is yet to report results for the quarter ended April 2024. The results are expected to be released on June 5. This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.ChargePoint Holdings, Inc.'s revenues are expected to be $106.09 million, down 18.4% from the year-ago quarter. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>
