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Mar 31, 2022
Workhorse Q1 2022 Earnings Report
Workhorse reported financial results, team enhancement, and strategic roadmap execution.
Key Takeaways
Workhorse Group reported first quarter results with a net loss of $22.1 million and sales of $14.3 thousand. The company is focused on executing its revised strategic product roadmap and strengthening its financial and operational position.
Hired talented executives to oversee critical roles.
Completed the consolidation and relocation of the Company’s headquarters to Sharonville, Ohio.
Opened a new technical design and testing center in Wixom, Michigan.
Made significant progress transforming Workhorse’s Union City plant.
Forward Guidance
Workhorse reaffirms its commitment to manufacture and sell at least 250 vehicles in 2022, assuming current supply chain visibility remains unchanged, and to generate at least $25 million in revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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