Workhorse Group Inc (OQ:WKHS)
Business Focus: Auto & Truck Manufacturers
| Sector: Consumer Cyclicals | Industry: Auto & Truck Manufacturers |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 100 Commerce Dr LOVELAND OH 45140-7726 |
| Tel: | 1-949-5743860 |
| Website: | https://workhorse.com |
| IR: | See website |
| Key People | ||
| Richard F. Dauch Chief Executive Officer, Director | Robert M. Ginnan Chief Financial Officer | Ryan Wesley Gaul President, Commercial Trucks |
| John W. Graber President - Aerospace | Kerry K. Roraff Chief Human Resource Officer | Joshua J. Anderson Chief Technology Officer |
| James D. Harrington Chief Compliance Officer, General Counsel, Secretary | Stanley Raymond March Vice President - Corporate Development and Communications | James C. Peters Vice President - Supply Chain Management |
| Business Overview |
| Workhorse Group, Inc. is a technology company, which is focused on providing ground and air-based electric vehicles to the last-mile delivery sector. The Company is primarily engaged in providing solutions to the commercial transportation sector. It designs and manufactures all-electric delivery trucks and drone systems, including the technology that optimizes the way these vehicles operate. As an original equipment manufacturer, it designs and builds high performance, battery-electric trucks and drones. It also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with its vehicles and enable fleet operators to optimize energy and route efficiency. Its products are marketed under the Workhorse brand. All Workhorse last-mile delivery trucks are assembled at its Union City, Indiana production facility. All Workhorse drone systems are designed and built at its Mason, Ohio facility. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Workhorse Group Inc revenues increased from $5M to $13.1M. Net loss increased 6% to $123.9M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Research and Development increase of 5% to $24.5M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -$0.74 to -$0.60. |
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