Xos Inc Stock Price, News & Analysis

Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, has rescheduled its second quarter 2024 earnings release to Tuesday, August 13, 2024, after the U.S. financial markets close. The company will host a conference call at 4:30 p.m. EDT / 1:30 p.m. PDT on the same day to discuss the financial results. Investors can access the call via webcast or by dialing in. An audio replay will be available until August 27, 2024. Xos specializes in battery-electric vehicles for medium- and heavy-duty commercial use, focusing on last-mile and back-to-base routes. The company aims to provide more cost-efficient and easier-to-maintain alternatives to traditional internal combustion engine vehicles.

Xos, a leader in electric truck manufacturing and fleet services, will release its second quarter 2024 financial results on August 12, 2024, after U.S. market close. A conference call to discuss these results will occur at 4:30 p.m. EDT/1:30 p.m. PDT the same day. To participate, attendees should dial in ten minutes before the call using either the U.S. toll-free number 1-866-250-8117 or the international number 1-412-317-6011 with conference ID 10190972. An audio replay of the call will be available until August 26, 2024. The results will also be accessible via a webcast and archived on the company's website. Xos specializes in battery-electric trucks for medium- and heavy-duty commercial use, providing cost-efficient, low-maintenance alternatives to traditional internal combustion engine vehicles.

Xos, Inc. (NASDAQ: XOS) has announced the delivery of their Xos SV Stepvans and comprehensive charging solutions to Morgan Services, a family-owned textile company.

The delivery includes the first set of Class 6 battery-electric stepvans, with additional orders for facilities in Los Angeles and San Diego. Xos also installed nine charging stations at Morgan Services' Los Angeles site, covering everything from design and permitting to physical installation and activation.

CEO Dakota Semler expressed enthusiasm about the partnership, emphasizing the significance of this milestone for both companies in the realm of fleet electrification. This collaboration underscores Xos' commitment to providing turnkey solutions for businesses transitioning to electric vehicles and solidifies its position as a leader in the commercial fleet electrification space.

Blue Bird (Nasdaq: BLBD), a leader in electric and low-emission school buses, will debut an electric-powered step van at the 2024 Advanced Clean Transportation (ACT) Expo from May 20-23, 2024, in Las Vegas. Partnering with Xos (Nasdaq: XOS) and Morgan Olson, Blue Bird aims to expand its zero-emission solutions to the commercial vehicle market. The step van features a 140kWh Lithium-ion battery offering a range of up to 130 miles and various safety features such as 'hill hold' and 'electric creep.' Blue Bird's stripped chassis provides a 55-degree wheel cut for better maneuverability in urban settings. The company anticipates commercial availability of the stripped chassis by late 2024.

Xos, a leading electric truck manufacturer, reported a significant financial turnaround in Q1 2024, with a 180% year-over-year revenue growth to $13.2 million and industry-leading gross margins of 21.2%. The company completed the acquisition of ElectraMeccanica, boosting its cash position by approximately $50.2 million. Xos delivered 62 units in the quarter and launched the updated Xos Hub mobile charging solution. Despite the progress, Xos still reported a net loss of $11 million, which is an improvement compared to the $24.3 million net loss in the same period last year. The outlook for 2024 includes expected revenue between $66.7 million and $100.4 million, and unit deliveries ranging from 400 to 600 units.

Xos, Inc. has received approval from CARB for their 2024 Xos SV Battery Electric Stepvan to be listed on the HVIP catalog, offering a base incentive of $85,000 per vehicle. This presents a significant opportunity for Xos to provide cost-effective electrification solutions and reduce upfront costs for customers. The HVIP approval underscores Xos's commitment to making electrification more affordable and breaking barriers for businesses transitioning to electric fleets.