Workhorse Group (NASDAQ:WKHS) stock is trading lower on Friday despite upbeat second-quarter results and its Motiv Electric Trucks merger deal.
The company reported second-quarter sales of $5.7 million, up by 573.0% year-over-year, topping the analyst consensus estimate of $2.3 million.
However, it struggled for profitability, reporting quarterly EPS loss of $1.67, beating the analyst consensus estimate loss of $3.98.
Also Read: Workhorse Stock Jumps After Reviving Merger Talks With Electric Vehicle Maker
Cost of sales rose 78.8% to $13.1 million. Loss from operations improved to $(14.5) million from $(20.5) million a year ago.
As of June 30, 2025, the company held $2.2 million in cash and equivalents.
Workhorse CEO Rick Dauch noted the company shipped a record 32 trucks in the quarter, fueled by the strong performance of its W56 step vans.
Dauch said the company also reached an agreement to merge with Motiv Electric Trucks to …