Benzinga | Aug 9, 2021 11:43AM EDT

Workhorse Group Q2 Sales Surge On Higher Truck Volume

* Workhorse Group Inc (NASDAQ:WKHS) reported second-quarter FY21 sales of $1.2 million, missing the analyst consensus of $6.41 million. It reported sales of $0.092 million last year.

* It delivered a total of 14 trucks in Q2 versus one truck last year.

* Gross loss widened to $(13.6) million, versus $(1.42) million last year.

* Operating expenses rose 64% Y/Y to $9.1 million.

* Operation loss was $(34.4) million versus $(6.98) million the previous year.

* Loss per share of $(0.35) beat the consensus estimate of $(0.29).

* Net loss for the quarter narrowed to $(43.6) million.

* Net interest expense decreased to $10.5 million from $124.3 million last year.

* Price action: WKHS shares are trading higher by 1.78% at $10.28 on the last check Monday.