Workhorse Group Reports Q2 Loss, Lags Revenue Estimates
Workhorse Group (NASDAQ: 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. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this truck and drone manufacturer would post a loss of $1.60 per share when it actually produced a loss of $2, delivering a surprise of -25%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Workhorse, which belongs to the Zacks Automotive – Original Equipment industry, posted revenues of $0.84 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 71.93%. This compares to year-ago revenues of $3.97 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 …
Full story available on Benzinga.com
