Workhorse Group (NASDAQ:WKHS) Announces Quarterly Earnings Results

Workhorse Group (NASDAQ:WKHS) issued its earnings results on Thursday. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.91), FiscalAI reports. Workhorse Group had a negative net margin of 299.18% and a negative return on equity of 255.45%. 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 Price Performance

Workhorse Group stock traded down $0.05 during mid-day trading on Thursday, reaching $3.04. The company had a trading volume of 274,137 shares, compared to its average volume of 141,385. Workhorse Group has a fifty-two week low of $2.31 and a fifty-two week high of $26.40. The company has a current ratio of 1.23, a quick ratio of 0.25 and a debt-to-equity ratio of 0.22. The company has a market cap of $33.11 million, a P/E ratio of -0.10 and a beta of 2.57. The business has a fifty day simple moving average of $2.94 and a 200 day simple moving average of $3.25.

Analyst Ratings Changes

WKHS has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Workhorse Group from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. Wall Street Zen cut Workhorse Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Workhorse Group stock. Geode Capital Management LLC lifted its position in shares of Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,684 shares of the company’s stock after acquiring an additional 11,073 shares during the quarter. Geode Capital Management LLC owned approximately 0.47% of Workhorse Group worth $49,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.98% of the company’s stock.

Workhorse Group Company Profile

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.