Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.ĬMC Markets does not endorse or offer opinion on the trading strategies used by the author. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. More emphasis should be placed on what Duach says regarding the next couple of years and any update on production numbers.įor the full year, analysts expect Workhorse to post revenue of $4.71m, up 238% year-on-year, before accelerating to $83.63M for full year 2022, according to data from Yahoo Finance.ĭisclaimer Past performance is not a reliable indicator of future results.ĬMC Markets is an execution-only service provider. Revenue is pegged at $1.18m, down 34.8% on the $1.81m seen last year.įocusing on earnings and revenue for the individual quarter may be short sighted. Wall Street is expecting Workhorse to post a loss of $0.35 a share, an improvement on the $0.78 loss seen in the same period last year. “ Dauch's experience with turnarounds within the auto industry makes him a nice fit for Workhorse as it looks to ramp production” - B. Workhorse has yet to show that it has an opportunity like that on the cards in the near-future. That said, the February drop was a response to the USPS handing a contract to rival Oshkosh. better focus our time and resources on initiatives that we expect will be more productive for our company,” Dauch said. In September, Duach ditched Workhorse’s legal wranglings with USPS which were dragging on the company - both in terms of investor sentiment and negative PR. The company had revised down its full-year production guidance from 1,800 vehicles to 1,000 vehicles on the back of supply chain issues, before removing the revised guidance completely.Įarly signs of a change in direction have been positive. Such experience will be needed as Workhorse looks to improve on disappointing second quarter earnings. Riley analyst, Christopher Souther, said “Dauch's experience with turnarounds within the auto industry makes him a nice fit for Workhorse as it looks to ramp production.” Investors will be looking for new CEO Richard Dauch to outline his strategy on turning around the EV delivery van maker.ĭauch is an industry veteran having held the same position at Delphi Technologies. What could move Workhorse’s share price post-earnings? Tuesday’s third quarter results should provide insight on where the company is heading - and if it’s good news, then Workhorse’s share price could be about to shift gears. And with a new CEO behind the wheel of the electric delivery van maker, things could be about to turn a corner. Yet, to pass over Workhorse could be missing out on a heavily discounted stock in the electric vehicle market. Considering Workhorse’s share price has slipped a further 4.6% over the past month, investors will definitely need to kick the tyres when it comes to picking up the stock. There’s definitely been a sense of one way traffic regarding sentiment around Workhorse’s share price. Since hitting a year-high of $42.92 February, the stock has reversed more than 80% and remains down 51% on the year (through 5 November). Workhorse’s share price has had a bumpy ride in 2021.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |