SHARONVILLE, Ohio (AP) — SHARONVILLE, Ohio (AP) — Workhorse Group Inc. (WKHS) on Wednesday reported a loss of $38.7 million in its fourth quarter.
The Sharonville, Ohio-based company said it had a loss of 24 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The truck and drone manufacturer posted revenue of $3.4 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $10.1 million.
For the year, the company reported a loss of $117.3 million, or 74 cents per share. Revenue was reported as $5 million.
Workhorse expects full-year revenue in the range of $75 million to $125 million.
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