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Workhorse (WKHS) Gears Up for Q3 Earnings: What to Expect
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Workhorse Group, Inc. (WKHS - Free Report) is slated to release third-quarter 2020 results on Nov 9, before the opening bell. The Zacks Consensus Estimate for the quarter’s loss and revenues is pegged at 11 cents and $400,000, respectively. The electric vehicle (EV) maker incurred a loss of 12 cents in the last reported quarter amid high operating expenses. The Zacks Consensus Estimate for Workhorse’s third-quarter loss per share has remained stable over the past 60 days.
Factors at Play
Rising deliveries of C-Series vans is expected to have boosted Workhorse’s top line during the to-be-reported quarter. These C-series vans are designed for last mile service for delivering packages or cargo to final destinations. Increasing demand for green vehicles amid favorable government policies and climate change concerns, along with strategic partnerships with firms including Lordstown Motors are likely to have strengthened the firm’s backlog. Nonetheless, high cost of goods sold due to elevated tooling expenses for C-Series production is anticipated to have dented gross profits. Also, the market leader, first mover and only U.S. pure play original equipment manufacturer in medium-duty electrification has been incurring elevated SG&A and R&D costs, which are expected to have ailed operating margins.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Workhorse this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company has an Earnings ESP of 0.00%.
Zacks Rank: It carries a Zacks Rank of 3 currently.
Importantly, the red hot EV maker Tesla (TSLA - Free Report) delivered an earnings beat in the latest quarterly release. Meanwhile, electric-truck start up Nikola (NKLA - Free Report) is set to post quarterly numbers on Nov 9, after the closing bell. China-based EV manufacturer NIO Inc. (NIO - Free Report) is scheduled to unveil third-quarter results on Nov 17.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Workhorse (WKHS) Gears Up for Q3 Earnings: What to Expect
Workhorse Group, Inc. (WKHS - Free Report) is slated to release third-quarter 2020 results on Nov 9, before the opening bell. The Zacks Consensus Estimate for the quarter’s loss and revenues is pegged at 11 cents and $400,000, respectively. The electric vehicle (EV) maker incurred a loss of 12 cents in the last reported quarter amid high operating expenses. The Zacks Consensus Estimate for Workhorse’s third-quarter loss per share has remained stable over the past 60 days.
Factors at Play
Rising deliveries of C-Series vans is expected to have boosted Workhorse’s top line during the to-be-reported quarter. These C-series vans are designed for last mile service for delivering packages or cargo to final destinations. Increasing demand for green vehicles amid favorable government policies and climate change concerns, along with strategic partnerships with firms including Lordstown Motors are likely to have strengthened the firm’s backlog. Nonetheless, high cost of goods sold due to elevated tooling expenses for C-Series production is anticipated to have dented gross profits. Also, the market leader, first mover and only U.S. pure play original equipment manufacturer in medium-duty electrification has been incurring elevated SG&A and R&D costs, which are expected to have ailed operating margins.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Workhorse this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company has an Earnings ESP of 0.00%.
Zacks Rank: It carries a Zacks Rank of 3 currently.
Importantly, the red hot EV maker Tesla (TSLA - Free Report) delivered an earnings beat in the latest quarterly release. Meanwhile, electric-truck start up Nikola (NKLA - Free Report) is set to post quarterly numbers on Nov 9, after the closing bell. China-based EV manufacturer NIO Inc. (NIO - Free Report) is scheduled to unveil third-quarter results on Nov 17.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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