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Workhorse Group has rescheduled its third quarter 2024 earnings conference call to November 19, 2024. The company delivered 20 trucks during Q3, including 15 W56 step vans to FedEx. CEO Rick Dauch highlighted positive momentum with recent purchase orders and customer conversations, emphasizing their focus on cost management and financial strengthening. The company will file Form 12b-25 with the SEC regarding the delay in Form 10-Q filing, which they plan to submit by November 19. The earnings call will include a presentation and Q&A session, with both U.S. and international dial-in options available.
Workhorse Group ha riprogrammato la sua conference call sugli utili del terzo trimestre 2024 per il 19 novembre 2024. L’azienda ha consegnato 20 camion durante il terzo trimestre, inclusi 15 furgoni W56 per FedEx. Il CEO Rick Dauch ha messo in evidenza il slancio positivo con i recenti ordini e le conversazioni con i clienti, sottolineando l’importanza della gestione dei costi e del rafforzamento finanziario. L’azienda presenterà il modulo 12b-25 presso la SEC riguardo al ritardo nel deposito del modulo 10-Q, che intendono presentare entro il 19 novembre. La conference call sugli utili includerà una presentazione e una sessione di domande e risposte, con opzioni per la partecipazione sia negli Stati Uniti che a livello internazionale.
Workhorse Group ha reprogramado su conferencia telefónica sobre los ingresos del tercer trimestre de 2024 para el 19 de noviembre de 2024. La compañía entregó 20 camiones durante el tercer trimestre, incluyendo 15 furgones W56 a FedEx. El CEO Rick Dauch destacó el impulso positivo con los recientes pedidos y conversaciones con clientes, enfatizando su enfoque en la gestión de costos y el fortalecimiento financiero. La empresa presentará el formulario 12b-25 ante la SEC sobre el retraso en la presentación del formulario 10-Q, que planean enviar antes del 19 de noviembre. La llamada sobre los ingresos incluirá una presentación y una sesión de preguntas y respuestas, con opciones de marcado tanto para EE. UU. como para el ámbito internacional.
워크호스 그룹은 2024년 3분기 실적 컨퍼런스 콜을 2024년 11월 19일로 재조정했습니다. 이 회사는 3분기 동안 20대의 트럭을 인도했으며, 그중 15대의 W56 스텝 밴을 FedEx에 전달했습니다. CEO 릭 다우치는 최근 구매 주문 및 고객과의 대화에서 긍정적인 모멘텀을 강조하며, 비용 관리 및 재무 강화를 위한 집중을 강조했습니다. 회사는 10-Q 양식 제출 지연에 대해 SEC에 12b-25 양식을 제출할 예정이며, 11월 19일까지 제출할 계획입니다. 실적 전화 회의에는 발표와 질의응답 세션이 포함되며, 미국 및 국제 전화 연결 옵션이 제공됩니다.
Workhorse Group a reprogrammé sa conférence téléphonique sur les résultats du troisième trimestre 2024 pour le 19 novembre 2024. L’entreprise a délivré 20 camions au cours du troisième trimestre, dont 15 fourgons W56 pour FedEx. Le PDG Rick Dauch a souligné l’élan positif avec des commandes récentes et des conversations avec des clients, en mettant l’accent sur leur concentration sur la gestion des coûts et le renforcement financier. L’entreprise déposera le formulaire 12b-25 auprès de la SEC concernant le retard dans le dépôt du formulaire 10-Q, qu’elle prévoit de soumettre d’ici le 19 novembre. La conférence sur les résultats comprendra une présentation et une session de questions-réponses, avec des options de connexion par téléphone disponibles à la fois pour les États-Unis et à l’international.
Workhorse Group hat seinen Konferenzanruf zu den Einnahmen für das dritte Quartal 2024 auf den 19. November 2024 verschoben. Das Unternehmen hat im dritten Quartal 20 Lastwagen ausgeliefert, darunter 15 W56-Transporter an FedEx. CEO Rick Dauch betonte den positiven Schwung durch kürzliche Bestellungen und Gespräche mit Kunden und hob den Fokus auf Kostenmanagement und finanzielle Stärkung hervor. Das Unternehmen wird das Formular 12b-25 bei der SEC einreichen, um den Rückstand bei der Einreichung des Formulars 10-Q zu melden, das sie bis zum 19. November einreichen möchten. Der Ertragsanruf wird eine Präsentation und eine Q&A-Session umfassen, mit Dial-in-Optionen sowohl für die USA als auch international.
Positive
- Delivered 20 trucks in Q3 2024
- Secured initial FedEx order of 15 W56 step vans
- Received new purchase orders from customers
Negative
- Delayed filing of Q3 2024 Form 10-Q
- Postponement of earnings call from original date
Insights
This rescheduling announcement contains several notable operational updates. The delivery of 20 trucks in Q3, including 15 W56 step vans to FedEx, represents meaningful progress in commercialization efforts. However, the need to file Form 12b-25 for a delayed 10-Q filing raises concerns about potential accounting complexities or internal control issues.
For a micro-cap company with a market cap of just $19.2M, securing FedEx as a customer is significant. However, the delayed financial filing combined with the company’s focus on “managing costs” and “strengthening financial position” suggests ongoing cash burn concerns typical of early-stage EV manufacturers. The company’s ability to scale production and maintain adequate liquidity will be critical factors to monitor in the upcoming earnings report.
CINCINNATI, Nov. 13, 2024 (GLOBE NEWSWIRE) — Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on pioneering the transition to zero-emission commercial vehicles, today announced that it has rescheduled its third quarter 2024 earnings conference call to Tuesday, November 19, 2024 at 10:00 a.m. Eastern time (7:00 a.m. Pacific time). Financial results will be issued in a press release prior to the call.
“We look forward to providing an update on the important momentum across Workhorse on November 19,” Workhorse CEO Rick Dauch said. “We’re encouraged by the delivery of 20 trucks during the third quarter, including the initial FedEx order of 15 W56 step vans, as well as the recent purchase orders we’ve received from customers, and the positive conversations we are having with prospective customers. We continue to demonstrate the reliability, durability, and real-world capabilities of our EV trucks. At the same time, we remain laser focused on managing costs across the organization and strengthening our financial position for the future.”
Updated Earnings Call Information
Workhorse management will host a presentation, followed by a question-and-answer period.
Date: Tuesday, November 19, 2024
Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)
U.S. dial-in: 877-407-8289
International dial-in: 201-689-8341
Please call the conference telephone number 10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860.
The conference call will be broadcast live and available for replay here and via the Investor Relations section of Workhorse’s website.
A telephonic replay of the conference call will be available after 1:00 p.m. Eastern time on the same day through November 26, 2024.
Toll-free replay number: 877-660-6853
International replay number: 201-612-7415
Replay ID: 13749999
12b-25 Filing
Workhorse intends to file a Form 12b-25 with the Securities and Exchange Commission (“SEC”) that provides more detail about the delay in the filing of the Company’s Form 10-Q for the third quarter of 2024 and the consequent postponement of the earnings call. The Company also intends to file the Form 10-Q by November 19, 2024.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing ground-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric trucks. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit workhorse.com.
Forward Looking Statements
The discussions in this press release contain forward-looking statements reflecting our current expectations that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate” and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements about the features, benefits and performance of our products, our ability to introduce new product offerings and increase revenue from existing products, expected expenses including those related to selling and marketing, product development and general and administrative, our beliefs regarding the health and growth of the market for our products, anticipated increase in our customer base, expansion of our products functionalities, expected revenue levels and sources of revenue, expected impact, if any, of legal proceedings, the adequacy of liquidity and capital resources, and expected growth in business. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained in this press release.
Media Contact:
Aaron Palash / Greg Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Investor Relations Contact:
Tom Colton and Greg Bradbury
Gateway Group
949-574-3860
WKHS@gateway-grp.com
FAQ
When is Workhorse (WKHS) reporting Q3 2024 earnings?
Workhorse will report Q3 2024 earnings on Tuesday, November 19, 2024, at 10:00 a.m. Eastern time.
How many vehicles did Workhorse (WKHS) deliver in Q3 2024?
Workhorse delivered 20 trucks during Q3 2024, including 15 W56 step vans to FedEx.
Why did Workhorse (WKHS) delay their Q3 2024 earnings release?
Workhorse is filing Form 12b-25 with the SEC regarding the delay in their Form 10-Q filing, with plans to file by November 19, 2024.
