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LUCID (LCID) to Report Q4 Earnings: Here's What to Expect
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Lucid Group (LCID - Free Report) is scheduled to release fourth-quarter 2022 results on Feb 22, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at a loss of 39 cents per share and $290 million, respectively. The consensus mark for Lucid’s fourth-quarter loss per share narrowed by 3 cents in the past 60 days.
Lucid’s bottom line estimates imply a decline of 5.41% from the year-ago reported number. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year increase of 998.14%.
This electric vehicle company made its NASDAQ debut on Jul 26, 2021. In the last reported quarter, it posted a net loss per share of 40 cents, wider than the Zacks Consensus Estimate of 33 cents per share. Over the trailing four quarters, Lucid has surpassed earnings estimates on two out of four occasions and missed in the rest, with the average surprise being 11.2%. This is depicted in the graph below:
Let’s take a look at how things are shaping up ahead of its fourth-quarter earnings release.
Earnings Whispers
Our proven model predicts earnings beat for Lucid. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Lucid has an Earnings ESP of +3.90%. This is because the Most Accurate Estimate of loss is pegged 2 cents narrower than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
During the fourth quarter, LCID produced 3,493 vehicles, up from 2,282 in the third quarter, to exceed its full-year guidance of producing 6,000-7,000 vehicles. The company delivered 1,932 vehicles in the fourth quarter, up from 1,398 in the third quarter. The increased deliveries are likely to aid upcoming results.
Notably, Lucid started deliveries of Lucid Air Touring and Lucid Air Pure in the fourth quarter. Lucid Air Grand Touring has managed to achieve an exceptional efficiency of 4.6 miles/kWh. The efficiency factor has played in favor of Lucid, putting it steps ahead of its competition by lowering cost through less raw material usage per vehicle and subsequently reducing the cost of ownership for customers. Robust customer demand for Lucid Air is likely to have boosted fourth-quarter revenues.
Other Stocks With the Favorable Combination
Let’s take a look at some other players from the auto space that, according to our model, have the right combination of elements to post an earnings beat for the quarter to be reported:
The Shyft Group (SHYF - Free Report) will release fourth-quarter 2022 results on Feb 23. The company has an Earnings ESP of +2.98% and a Zacks Rank #3.
The Zacks Consensus Estimate for Shyft Group’s to-be-reported quarter’s earnings and revenues is pegged at 45 cents per share and $314.6 million, respectively. SHYF surpassed earnings estimates in all the trailing four quarters, with an average surprise of 16.11%.
Vroom (VRM - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +7.50% and a Zacks Rank #3.
The Zacks Consensus Estimate for Vroom’s to-be-reported quarter’s loss and revenues is pegged at 60 cents per share and $256.73 million, respectively. VRM surpassed earnings estimates in two of the trailing four quarters and missed in the rest, with an average surprise of 1.43%.
CarGurus (CARG - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +58.49% and a Zacks Rank #3.
The Zacks Consensus Estimate for CarGurus’ to-be-reported quarter’s earnings and revenues is pegged at 9 cents per share and $279.28 million, respectively. CARG surpassed earnings estimates in three of the trailing four quarters and missed on the other, with an average surprise of 10.56%.
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LUCID (LCID) to Report Q4 Earnings: Here's What to Expect
Lucid Group (LCID - Free Report) is scheduled to release fourth-quarter 2022 results on Feb 22, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at a loss of 39 cents per share and $290 million, respectively. The consensus mark for Lucid’s fourth-quarter loss per share narrowed by 3 cents in the past 60 days.
Lucid’s bottom line estimates imply a decline of 5.41% from the year-ago reported number. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year increase of 998.14%.
This electric vehicle company made its NASDAQ debut on Jul 26, 2021. In the last reported quarter, it posted a net loss per share of 40 cents, wider than the Zacks Consensus Estimate of 33 cents per share. Over the trailing four quarters, Lucid has surpassed earnings estimates on two out of four occasions and missed in the rest, with the average surprise being 11.2%. This is depicted in the graph below:
Lucid Group, Inc. Price and EPS Surprise
Lucid Group, Inc. price-eps-surprise | Lucid Group, Inc. Quote
Let’s take a look at how things are shaping up ahead of its fourth-quarter earnings release.
Earnings Whispers
Our proven model predicts earnings beat for Lucid. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Lucid has an Earnings ESP of +3.90%. This is because the Most Accurate Estimate of loss is pegged 2 cents narrower than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: LCID currently carries a Zacks Rank of #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors to Note
During the fourth quarter, LCID produced 3,493 vehicles, up from 2,282 in the third quarter, to exceed its full-year guidance of producing 6,000-7,000 vehicles. The company delivered 1,932 vehicles in the fourth quarter, up from 1,398 in the third quarter. The increased deliveries are likely to aid upcoming results.
Notably, Lucid started deliveries of Lucid Air Touring and Lucid Air Pure in the fourth quarter. Lucid Air Grand Touring has managed to achieve an exceptional efficiency of 4.6 miles/kWh. The efficiency factor has played in favor of Lucid, putting it steps ahead of its competition by lowering cost through less raw material usage per vehicle and subsequently reducing the cost of ownership for customers. Robust customer demand for Lucid Air is likely to have boosted fourth-quarter revenues.
Other Stocks With the Favorable Combination
Let’s take a look at some other players from the auto space that, according to our model, have the right combination of elements to post an earnings beat for the quarter to be reported:
The Shyft Group (SHYF - Free Report) will release fourth-quarter 2022 results on Feb 23. The company has an Earnings ESP of +2.98% and a Zacks Rank #3.
The Zacks Consensus Estimate for Shyft Group’s to-be-reported quarter’s earnings and revenues is pegged at 45 cents per share and $314.6 million, respectively. SHYF surpassed earnings estimates in all the trailing four quarters, with an average surprise of 16.11%.
Vroom (VRM - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +7.50% and a Zacks Rank #3.
The Zacks Consensus Estimate for Vroom’s to-be-reported quarter’s loss and revenues is pegged at 60 cents per share and $256.73 million, respectively. VRM surpassed earnings estimates in two of the trailing four quarters and missed in the rest, with an average surprise of 1.43%.
CarGurus (CARG - Free Report) will release fourth-quarter 2022 results on Feb 28. The company has an Earnings ESP of +58.49% and a Zacks Rank #3.
The Zacks Consensus Estimate for CarGurus’ to-be-reported quarter’s earnings and revenues is pegged at 9 cents per share and $279.28 million, respectively. CARG surpassed earnings estimates in three of the trailing four quarters and missed on the other, with an average surprise of 10.56%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.