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Workhorse | 8-K: Workhorse Group Reports Third Quarter 2024 Results

Workhorse | 8-K: Workhorse Group Reports Third Quarter 2024 Results

Workhorse | 8-K:Workhorse 集團公佈2024年第三季度業績
美股SEC公告 ·  2024/11/20 06:06

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Workhorse Group reported Q3 2024 financial results, highlighting a three-year Master Framework Agreement with FedEx and delivery of 15 W56 step vans. Sales decreased to $2.5M from $3.0M YoY, while net loss improved to $25.1M from $30.6M. The company secured a GSA contract, expanding access to federal agencies.Workhorse's W56 step van demonstrated 31 MPGe efficiency during FedEx testing, significantly outperforming traditional delivery trucks. The company projects a sub-five-year payback period for EV step vans based on operational data. Cost-saving measures implemented earlier in the year are beginning to yield benefits.As of September 30, 2024, Workhorse had $3.2M in cash, $3.7M in receivables, and $43.2M in net inventory. The company continues to focus on extending its operational runway and managing cash flow while working to convert positive customer interactions into firm purchase orders.
Workhorse Group reported Q3 2024 financial results, highlighting a three-year Master Framework Agreement with FedEx and delivery of 15 W56 step vans. Sales decreased to $2.5M from $3.0M YoY, while net loss improved to $25.1M from $30.6M. The company secured a GSA contract, expanding access to federal agencies.Workhorse's W56 step van demonstrated 31 MPGe efficiency during FedEx testing, significantly outperforming traditional delivery trucks. The company projects a sub-five-year payback period for EV step vans based on operational data. Cost-saving measures implemented earlier in the year are beginning to yield benefits.As of September 30, 2024, Workhorse had $3.2M in cash, $3.7M in receivables, and $43.2M in net inventory. The company continues to focus on extending its operational runway and managing cash flow while working to convert positive customer interactions into firm purchase orders.
Workhorse集團發佈了2024年第三季度財務業績,強調了與聯邦快遞簽訂的爲期三年的主框架協議以及交付15輛W56步進廂貨車。銷售額從去年的300萬美元下降至250萬美元,而淨損失從3060萬美元改善至2510萬美元。該公司獲得了一項GSA合同,擴展了對聯邦機構的訪問。Workhorse的W56步進廂貨車在聯邦快遞測試中展現了31 MPGe的效率,遠超傳統的送貨卡車。根據運營數據,該公司預計電動步進廂貨車的投資回收期低於五年。今年早些時候實施的節省成本措施開始顯現成效。截至2024年9月30日,Workhorse擁有320萬美元現金、370萬美元應收賬款和4320萬美元淨庫存。該公司繼續專注於延長運營跑道和管理現金流,同時努力將積極的客戶互動轉化爲正式的採購訂單。
Workhorse集團發佈了2024年第三季度財務業績,強調了與聯邦快遞簽訂的爲期三年的主框架協議以及交付15輛W56步進廂貨車。銷售額從去年的300萬美元下降至250萬美元,而淨損失從3060萬美元改善至2510萬美元。該公司獲得了一項GSA合同,擴展了對聯邦機構的訪問。Workhorse的W56步進廂貨車在聯邦快遞測試中展現了31 MPGe的效率,遠超傳統的送貨卡車。根據運營數據,該公司預計電動步進廂貨車的投資回收期低於五年。今年早些時候實施的節省成本措施開始顯現成效。截至2024年9月30日,Workhorse擁有320萬美元現金、370萬美元應收賬款和4320萬美元淨庫存。該公司繼續專注於延長運營跑道和管理現金流,同時努力將積極的客戶互動轉化爲正式的採購訂單。
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