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. 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 b ...

CINCINNATI, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an American technology company focused on pioneering the transition to zero-emission commercial vehicles, today reported financial results for the second quarter ended June 30, 2024. Management Commentary "During the second quarter, we continued to advance our EV product roadmap and worked diligently to gain momentum with prospective customers," said Workhorse CEO Rick Dauch. "We successfully ex ...

CINCINNATI, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an American technology company focused on pioneering the transition to zero-emission commercial vehicles today announced that it has rescheduled its earnings call, which will now be held on Tuesday, August 20th at 11:00 a.m. Eastern time (8:00 a.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2024 as well as the Company's plans and outlook. Financial resul ...

CINCINNATI, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an American technology company focused on pioneering the transition to zero-emission commercial vehicles, will hold a conference call on Wednesday, August 14th at 10:00 a.m. Eastern time (7:00 a.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2024 as well as the Company's plans and outlook. Financial results will be issued in a press release prior to the c ...

CINCINNATI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an American technology company focused on pioneering the transition to zero-emission commercial vehicles, today announced the first delivery of its W56 step van as part of an ongoing collaboration with NorCal Transports Inc. ("NorCal"), a last-mile package delivery contractor in Richmond, California. The delivery, facilitated through Workhorse's Certified Dealer, Kingsburg Truck Sales, provides ...

Core Insights - Workhorse Group Inc. has successfully delivered its W56 step van to NorCal Transports Inc., marking a significant milestone in their collaboration focused on zero-emission commercial vehicles [1][6] - NorCal Transports currently operates a fleet where 80% consists of alternate fuel vehicles, aiming for 100% by 2025, highlighting the growing trend towards sustainable logistics solutions [2] - The W56 step van is designed for fleet operators transitioning to electric vehicles, featuring a payload capacity of 10,000 pounds and various cargo capacities across different models [4][6] Company Overview - Workhorse Group is an American technology company specializing in electric vehicles for the last-mile delivery sector, integrating cloud-based telematics for performance monitoring [7] - The W56 has become eligible for California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project, allowing purchasers to apply for a base voucher of $85,000 per vehicle [5] Industry Context - The deployment of the W56 is expected to contribute to reducing greenhouse gas emissions in the Richmond area, aligning with NorCal's sustainability goals and California's Advanced Clean Fleet Requirements [6] - The collaboration with NorCal Transports demonstrates the effectiveness of electric vehicles in meeting the demands of last-mile delivery, particularly in incentive-driven states [4]

CINCINNATI, July 24, 2024 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company") an American technology company focused on pioneering the transition to zero-emission commercial vehicles, today announced its participation in the upcoming Zero-Emissions Showcase + Ride & Drive, hosted by the California Air Resources Board (CARB) and CALSTART. The event will take place on August 14, 2024, from 9:00 AM to 4:00 PM at the Oakland Arena in Oakland, California. Registration for the e ...

Event Participation - Workhorse Group Inc will participate in the Zero-Emissions Showcase + Ride & Drive event hosted by CARB and CALSTART on August 14, 2024, in Oakland, California [1] - The event will feature demonstrations of Workhorse's battery-electric medium-duty W56 step van and W4 CC cab chassis, which qualify for California's HVIP and ISEF incentive programs [2] - Attendees can experience zero-emission trucks, buses, and off-road equipment, with the event located near the Port of Oakland where such vehicles are already in use [3] Company Offerings - Workhorse designs and builds high-performance, battery-electric trucks for the last-mile delivery sector, with vehicles integrated with cloud-based telematics systems for fleet optimization [7] - The company's vehicles aim to make the movement of people and goods more efficient and environmentally friendly [7] Industry Collaboration - CALSTART, a nonprofit organization, works with over 300 member companies to promote a clean, efficient, and prosperous transportation industry [6] - Representatives from HVIP, EnergIIZE, CARB, and the California Energy Commission will provide information on incentive programs for zero-emission vehicles and infrastructure at the event [4] Strategic Goals - Workhorse aims to help fleet operators comply with the Advanced Clean Fleets 2024 requirements by offering guidance and support during their transition to electric vehicles [5]

Core Insights - Workhorse Group Inc. has made a significant advancement in sustainable transportation with McAbee Trucking acquiring an all-electric W4 CC box truck, marking McAbee's first electric vehicle addition to its fleet [1][4] - The decision to purchase the W4 CC was influenced by its impressive performance during a demonstration period, showcasing the reliability and efficiency of Workhorse's electric trucks in real-world operations [1][11] Company Overview - Workhorse Group Inc. is focused on providing ground-based electric vehicles for the last-mile delivery sector, designing and building high-performance, battery-electric trucks [7] - The company also develops integrated cloud-based telematics systems to optimize energy and route efficiency for fleet operators [7] McAbee Trucking Details - McAbee Trucking, established in 1971, operates as a contractor for the United States Postal Service, delivering packages between USPS locations in North Carolina and South Carolina [9] - The company currently employs 68 individuals and operates a fleet of 63 vehicles, which includes propane, compressed natural gas (CNG), and diesel trucks [9] Industry Context - The acquisition of the Workhorse electric truck aligns with the National Star Route Mail Contractors Association's commitment to supporting alternative fuel adoption, including battery-electric solutions [6] - This move is consistent with the Postal Service's goals to reduce harmful emissions by transitioning to alternative fuel trucking fleets [6][8]

The W4 CC electric box truck is equipped to perform a 120-mile daily round trip mail route between Blacksburg, South Carolina, and Shelby, North Carolina. This addition underscores McAbee Trucking's commitment to lowering emissions while maintaining their impressive reliability record and an on-time dispatch rating of over 99% by the U.S. Postal Service. Greg Reed, Executive Director of the National Star Route Mail Contractors Association, also commented on this significant development: "The National Star R ...