Workhorse Group Stock Price, News & Analysis

Workhorse Group has announced a partnership with Progress Manufacturing Company (PMC) as a certified dealer for specialized second-stage manufacturing. PMC has placed a purchase order for Workhorse's W56 step van and W4 CC cab chassis as demonstration units. These vehicles will showcase EnviroCharge's mobile DC fast chargers, providing off-grid fleet EV charging solutions.

Located near Workhorse's manufacturing facility in Union City, Indiana, PMC specializes in equipping commercial vehicles with specialized technology. The partnership aims to expand the availability of electric commercial vehicles to specialized fleets and integrate advanced equipment for various applications. PMC is licensed to sell vehicles nationally through their dealer network and directly to customers.

Workhorse Group has announced a new partnership with Progressive Manufacturing Company (PMC) as a certified dealer. PMC, a second-stage manufacturer specializing in equipping commercial vehicles with specialized technology, has placed a purchase order for Workhorse's W56 step van and W4 CC cab chassis as demonstration units.

The vehicles will showcase EnviroCharge's mobile DC fast chargers, providing off-grid fleet EV charging solutions. Located near Workhorse's manufacturing facility in Union City, Indiana, PMC will distribute these vehicles nationally through their dealer network and directly to customers, focusing on last-mile delivery, EV fleet operations, and utility applications.

Workhorse Group has delivered its W56 electric step van to NorthStar Courier, a FedEx Ground Contract Service Provider in Minneapolis, Minnesota. This marks the first W56 deployment by a FedEx Ground Service Provider outside California. The sale was facilitated by Ziegler Truck Group, a Workhorse Certified Dealer. The W56, manufactured in Union City, Indiana, is designed for last-mile delivery and is now available in standard and extended wheelbase configurations with pre-configured upfit options for parcel delivery. Minnesota's emergence as a commercial EV adoption leader is supported by state grants for fleet electrification.

Workhorse Group reported Q3 2024 financial results with sales of $2.5 million, down from $3.0 million in Q3 2023. The company secured a three-year Master Framework Agreement with FedEx and delivered the first 15 W56 step vans. Net loss was $25.1 million compared to $30.6 million in the same period last year. The company ended the quarter with $3.2 million in cash and cash equivalents. Notable achievements include obtaining a GSA contract for federal government sales and demonstrating significant fuel efficiency with the W56 achieving 31 MPGe compared to 7 MPG for traditional delivery trucks.

Workhorse Group (Nasdaq: WKHS) has been awarded a General Services Administration (GSA) Government Fleet Contract through Colonial Fleet Electrification. The contract (GS-30F-RA005) under SIN 493E enables federal agencies to purchase Workhorse's W56 platform electric vehicles through GSAFleet.gov. The approval follows a comprehensive review of Workhorse's Union City, Indiana facility.

The company has also expanded its cooperative purchasing network through partnerships with Sourcewell, Florida Sheriff's Association Purchasing Program, OMNIA Partners, and PASSPort, making its vehicles more accessible to public sector fleets nationwide.

Workhorse Group (Nasdaq: WKHS), a technology company focused on zero-emission commercial vehicles, has rescheduled its third quarter 2024 earnings conference call to Tuesday, November 19, 2024, at 6:00 p.m. Eastern time. The company will release its financial results after market close on the same day. The earnings call will be accessible via U.S. dial-in (877-407-8289) and International dial-in (201-689-8341). A replay will be available through November 26, 2024. The call will also be broadcast live and available for replay through the company's Investor Relations website.

Workhorse Group has rescheduled its third quarter 2024 earnings conference call to November 19, 2024. The company delivered 20 trucks during Q3, including 15 W56 step vans to FedEx. CEO Rick Dauch highlighted positive momentum with recent purchase orders and customer conversations, emphasizing their focus on cost management and financial strengthening. The company will file Form 12b-25 with the SEC regarding the delay in Form 10-Q filing, which they plan to submit by November 19. The earnings call will include a presentation and Q&A session, with both U.S. and international dial-in options available.

Workhorse Group (Nasdaq: WKHS) has secured purchase orders for seven W56 electric step vans from three parcel delivery independent service providers. The orders came within 30 days following the company's participation at the FedEx Forward Service Provider Summit. The vehicles include both 178" wheelbase (1,000 cubic feet) and 208" extended wheelbase (1,200 cubic feet) models, scheduled for delivery by year-end. Multiple demonstrations were performed at parcel delivery terminal depots across California, where FedEx has installed electric charging systems. The W56, designed and built in the USA, features an efficient eAxle electric drivetrain and regenerative braking system.

Workhorse Group (Nasdaq: WKHS), a technology company focused on zero-emission commercial vehicles, has scheduled its Third Quarter 2024 earnings conference call for Thursday, November 14, 2024 at 10:00 a.m. ET. The company will release its financial results for the quarter ended September 30, 2024, before the call. Management will host a presentation followed by Q&A. The call will be accessible via U.S. dial-in (877-407-8289) and International dial-in (201-689-8341), with a replay available until November 21, 2024.