Workhorse Group (WKHS) reported Q3 EPS of ($0.22), $0.10 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $1.5 million versus the consensus estimate of $5.22 million.
2022 Guidance:
Workhorse is reaffirming its revenue guidance and expects to generate between $15-25 million in revenue for calendar year 2022, while tightening the range of vehicles expected to be manufactured and sold to between 100-200, assuming current supply chain lead times remain unchanged.
“We continue to prudently invest in our people, product portfolios, facilities, and operations as we ramp up production at both our Commercial Vehicles and Aerospace operations. We are also further building out our sales team, aftermarket infrastructure and capabilities as well as launching the Stables & Stalls initiative. We are on track to achieve our outlook for 2022 and look forward to delivering enhanced value to our customers and shareholders,” said Workhorse CFO Bob Ginnan.