Welcome to our dedicated page for Workhorse Group news (Ticker: WKHS), a resource for investors and traders seeking the latest updates and insights on Workhorse Group stock.
Workhorse Group Inc. (WKHS) delivers innovative electric commercial vehicles and drone-integrated logistics solutions for sustainable transportation. This news hub provides investors and industry professionals with essential updates on company developments, financial milestones, and technological advancements.
Access official press releases and curated news coverage spanning product launches, regulatory filings, partnership announcements, and operational updates. Our repository tracks key areas including vehicle production milestones, fleet deployments, technology patents, and corporate governance matters.
Discover timely information on earnings reports, SEC filings, and strategic initiatives that shape Workhorse's position in the zero-emission transportation sector. The collection serves as a decision-making resource for tracking manufacturing expansions, supply chain developments, and market expansion efforts.
Bookmark this page for structured access to Workhorse's evolving story in commercial EV innovation. Verify critical updates through primary sources linked within each entry, and revisit regularly to maintain current awareness of company progress.
Workhorse Group Inc. (WKHS) announced its Q1 2022 financial results, reporting a decline in sales to $14.3 thousand from $521.1 thousand in Q1 2021, primarily due to reduced truck sales volume. While cost of sales decreased to $3.9 million, SG&A expenses rose significantly to $11.9 million, largely driven by higher employee-related costs. The net loss improved to $(22.1) million compared to $(120.5) million in the prior year. The company remains committed to producing at least 250 vehicles in 2022 and generating a minimum of $25 million in revenue.
Workhorse Group Inc. (NASDAQ: WKHS) held its annual stockholders’ meeting on May 3, 2022, where shareholders re-elected nine directors and added Scott Miller, increasing the board to ten members, with nine being independent. Additionally, Grant Thornton LLP was ratified as the Company’s independent auditors for 2022. Workhorse is focused on sustainable, drone-integrated electric vehicles for last-mile delivery. Further details can be found in the Company's Proxy Statement filed with the SEC.
Workhorse Group (NASDAQ: WKHS) announced the election of Scott Miller to its board of directors during the annual stockholders' meeting on May 3, 2022. Miller, a retired Four-Star General with extensive leadership experience, will also serve on the Nominating and Corporate Governance and Compensation Committees. His military background includes significant roles in NATO and U.S. forces in Afghanistan. CEO Rick Dauch highlighted Miller's strategic mindset as a valuable asset for the company's vision in zero-emission commercial vehicle technology.
Workhorse Group Inc. (WKHS) will hold a conference call on May 10, 2022, at 10:00 a.m. Eastern time to discuss its first-quarter financial results for 2022 and future plans. The results will be released prior to the call. Investors can access the call via U.S. dial-in number 877-407-8289 or international dial-in 201-689-8341. A replay will be available after 1:00 p.m. Eastern time on the same day through May 17, 2022. The conference will be broadcasted live and available for replay on the company's website.
Workhorse Group Inc. (Nasdaq: WKHS) announced a significant financial move to strengthen its balance sheet by entering an agreement with High Trail Capital. In this agreement, the company will exchange approximately $29.7 million of common stock for outstanding 4.00% senior secured convertible notes, effectively eliminating its remaining debt. CFO Bob Ginnan emphasized that this transaction is a step towards transforming Workhorse from an advanced technology start-up into an efficient manufacturing entity with enhanced financial flexibility and stability.
Workhorse Group (WKHS) reported its fourth-quarter and full-year 2021 financial results on March 1, 2022, revealing a net loss of $156.1 million for Q4 and $401.3 million for the full year. Sales fell to $(2.0) million in Q4 and $(0.9) million for the year, primarily due to vehicle recalls. The company has revamped its leadership team and opened a new design facility to strengthen its operational capabilities. Guidance for 2022 estimates at least 250 vehicle sales and $25 million in revenue, with manufacturing expected to ramp up in the second half.
Workhorse Group (NASDAQ: WKHS) has partnered with GreenPower Motor Company (NASDAQ: GP) to establish a multi-year supply agreement for 1,500 EV Star cab and chassis. The delivery is set to begin in July 2022, with the chassis used for Workhorse's Class 4 W750 step vans. Workhorse will exclusively sell these vans across the U.S. and Canada. The W750 features a 150-mile electric range and 5,000 lbs payload capacity. This collaboration aims to enhance Workhorse's electric vehicle offerings and market presence.
On March 1, 2022, Workhorse Group (NASDAQ: WKHS) and GreenPower Motor Company (NASDAQ: GP) announced a multi-year supply agreement for the delivery of 1,500 EV Star cab and chassis. Deliveries will commence in July 2022, supporting Workhorse's new Class 4 W750 step van line, which is set for production in Q3 2022. This partnership grants Workhorse exclusive rights to sell the Class 4 vans in the U.S. and Canada. The W750 model will offer a 150-mile electric range and a 5,000 lbs. payload capacity, enhancing Workhorse's presence in the zero-emission vehicle market.
Workhorse Group Inc. (NASDAQ: WKHS) has appointed William Quigley to its board of directors effective February 23, 2022. Quigley brings over 30 years of automotive and finance experience, having held senior positions at Nexteer Automotive, Dana Holding, and Visteon. He will also serve on the audit committee, bringing valuable financial acumen to the board composed of nine directors, eight of whom are independent. Quigley aims to leverage his expertise to enhance Workhorse's operations in the last-mile delivery sector.
Workhorse Group Inc. (WKHS) will hold a conference call on March 1, 2022, at 10:00 a.m. Eastern Time to discuss its financial results for Q4 and the full year ended December 31, 2021. The call aims to provide insights into the company's plans and outlook following the release of their financial results. Participants can join via U.S. or international dial-in numbers, with a live broadcast and replay available on the company's website.
