Workhorse Group (WKHS) Reports Q3 Miss on Revenues

Workhorse Group (NASDAQ: WKHS) reported Q3 EPS of $. Revenue for the quarter came in at $3.3 million versus the consensus estimate of $3.58 million.

Third Quarter 2017 Highlights

• Completed delivery for 73 of the 200 units on order by UPS.
• Completed on-time delivery in mid-September of prototype vehicles to the United State Postal Service for testing.
• Announced the lease of Workhorse E-GEN vehicles for W.B. Mason through Workhorse’s strategic sales and service partner Ryder System.
• Deliveries of units for 2017 increased for the 3rd quarter and remain on track to further increase in Q4. We have delivered 64 units to-date in the fourth quarter.
• W-15 Pickup Truck development progress continues, and the formation of the W-15 Leadership Council is underway.
• First DOE/FedEx Hydrogen Fuel Cell Chassis was delivered to Plug Power and is being prepared for delivery to FedEx Express.
• Workhorse EV’s have now logged nearly 2.0 million miles and are deployed with customers in 14 states.
• Revenue increased by $3.0 million over the prior quarter and increased $1.4 million compared to the same year ago period.
• Completed a $12.0 million equity financing in September 2017.

For earnings history and earnings-related data on Workhorse Group (WKHS) click here.

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