Workhorse Stock Sinks After Company Cuts Its Sales Outlook

Workhorse Group


stock tumbled on Tuesday after the electric-van manufacturer said it expects to sell fewer vehicles than previously expected and cut its revenue guidance for the full year.

Workhorse


(ticker: WKHS) said in its second-quarter earnings release that “assuming supply chain lead times remain unchanged,” it now expects to manufacture and sell between 150 to 250 vehicles in 2022, which would generate between $15 million to $25 million worth of revenue. Workhorse had previously said it expected to manufacture and sell at least 250 vehicles in 2022, which would have generated at least $25 million.