Workhorse Group (NASDAQ:WKHS) Announces Earnings Results, Misses Estimates By $0.91 EPS

by · The Markets Daily

Workhorse Group (NASDAQ:WKHS – Get Free Report) released its earnings results on Thursday. The company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.91), FiscalAI reports. Workhorse Group had a negative net margin of 357.61% and a negative return on equity of 249.81%. The firm had revenue of $3.56 million during the quarter, compared to analyst estimates of $5.33 million.

Here are the key takeaways from Workhorse Group’s conference call:

  • Workhorse expects a meaningful increase in deliveries during the second half of 2026, supported by 100-vehicle orders each from Purolator and Gateway Fleets, as well as additional customer purchase orders. Its sales pipeline has more than doubled since the start of the year.
  • The company remains on track to achieve a $20 million annualized cost-synergy run rate by the end of 2026 following the Workhorse-Motiv merger, while pursuing further bill-of-materials reductions and a modular vehicle platform.
  • Workhorse plans to enter the mobile AI data-center market, targeting prototype development and partnerships over the next 10–12 months, with production and commercial deliveries targeted for 2027. Management views the opportunity as a potentially significant, capital-efficient growth area, but it remains early-stage and speculative.
  • Q2 revenue was $3.6 million and the company delivered 26 vehicles, below the prior-year pro forma comparison of $6.4 million and 39 vehicles; gross loss was $7.5 million and net loss reached $20.2 million. Workhorse ended the quarter with only $9.6 million in cash and said just $1.7 million remained available under its credit agreements after additional borrowing.

Workhorse Group Stock Up 0.7%

Shares of WKHS traded up $0.02 during trading hours on Friday, hitting $3.06. The stock had a trading volume of 190,944 shares, compared to its average volume of 96,415. Workhorse Group has a 1-year low of $2.31 and a 1-year high of $26.40. The firm has a market capitalization of $33.33 million, a P/E ratio of -0.25 and a beta of 2.57. The firm has a 50 day simple moving average of $2.93 and a 200-day simple moving average of $3.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.23 and a quick ratio of 0.25.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC raised its position in Workhorse Group, Inc. (NASDAQ:WKHS – Free Report) by 32.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 44,684 shares of the company’s stock after acquiring an additional 11,073 shares during the period. Geode Capital Management LLC owned approximately 0.47% of Workhorse Group worth $49,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 15.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WKHS. Wall Street Zen downgraded Workhorse Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Workhorse Group from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Check Out Our Latest Report on WKHS

Workhorse Group Company Profile

(Get Free Report)

Workhorse Group Inc is a U.S.-based technology company specializing in the design and manufacture of electric vehicles and drone-integrated delivery solutions. Founded in 2007 and headquartered in Loveland, Ohio, Workhorse focuses on last-mile delivery, combining electric powertrain systems, advanced telematics and proprietary composite bodies to address the growing demand for sustainable logistics fleets.

The company’s core product lineup includes the N-GEN™ chassis, a modular electric vehicle platform available in Class 3–5 configurations, and the C-1000™ all-electric delivery van.

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