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#Workhorse earnings plus
In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the top 32% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is -$0.19 on $5.2 million in revenues for the coming quarter and -$0.46 on $101.8 million in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to underperform the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Workhorse was unfavorable. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While Workhorse has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Workhorse shares have lost about 18.3% since the beginning of the year versus the S&P 500's gain of 1.5%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. This compares to zero revenues a year ago.
Workhorse, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $0.65 million for the quarter ended December 2020, missing the Zacks Consensus Estimate by 47.87%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. A quarter ago, it was expected that this truck and drone manufacturer would post a loss of $0.11 per share when it actually produced a loss of $0.78, delivering a surprise of -609.09%. This quarterly report represents an earnings surprise of 308.33%. These figures are adjusted for non-recurring items.
This compares to earnings of $0.02 per share a year ago.
#Workhorse earnings free
Workhorse Group ( WKHS Quick Quote WKHS - Free Report) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of a loss of $0.12 per share.
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