Workhorse Misses On FY24 Revenue And EPS, But Cost Cuts Narrow Losses

Workhorse Group shares are climbing in premarket trading after reporting a fiscal year 2024 sales drop of 49.5% to $6.616 million, missing estimates. The company posted a wider-than-expected EPS loss of $(51.69), but reduced operating losses and expenses. Workhorse aims to cut costs further while securing financial stability for its long-term strategy.