Workhorse CFO on Electrification of Last Mile Delivery & Profitability Goals

Workhorse is at the center of the electric vehicle revolution and is looking to capitalize on the trend by redefining last mile delivery. Dion Rabouin, Host of Voices of Wall Street and Markets Editor at Axios, spoke with Steve Schrader, Chief Financial Officer at Workhorse, about key catalysts for future growth, how COVID-19 is creating increased long-term demand for delivery by all-electric trucking fleets, and the path to profitability.

Shortly after this interview, trucks.com reported that USPS is delaying its mail truck replacement decision. The news crushed the stock, but it wasn’t totally surprising given the history of delays over the past four years. Cowen analyst Jeffrey Osborne, who has a $23 price target and OUTPERFORM rating for $WKHS, says Workhorse is still well-positioned to capture up to 60%-70% of the Post Office’s fleet once a decision is finally made. As of the end of 2018, the Post Office owned about 229,000 vehicles.