Workhorse Group (NASDAQ: WKHS) stock was on a downward trajectory in morning trading on Tuesday as the manufacturer of electric vans, drones, and telematics software reported Q3 earnings that fell short of estimates.
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While the company’s loss per diluted share narrowed to $0.22 in the third quarter versus a loss of $0.63 in the same period last year, it still fell short of analysts’ estimates of a loss of $0.12 per share.
Workhorse reaffirmed its FY22 outlook and expects to generate revenues in the range of $15 million to $25 million, ” while tightening the range of vehicles expected to be manufactured and sold to between 100-200, assuming current supply chain lead times remain unchanged.”