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Workhorse Group Swings to Loss in Q1, Sales Gain; Unveils Deal With EAVX to Expand Product Offerings

05/10/2021 06:17

10:05 AM EDT, 05/10/2021 (MT Newswires) -- Workhorse Group (WKHS) reported Monday Q1 GAAP loss of $1.04 per diluted share, versus earnings of $0.06 a year ago. Analysts polled by Capital expected a loss of $0.17.

Sales for the quarter rose to $521,060 from $84,300 a year ago. Analysts polled by Capital expected $2.3 million.

In a separate release, Workhorse said it is working with J.B. Poindexter & Co. unit EAVX, a commercial vehicle body services provider, to expand the technology company's product portfolio.

Under the deal, the companies will develop a "next-generation delivery vehicle," Workhorse said.

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