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What Investors Should Know Ahead of Luminar's (LAZR) Q4 Earnings
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Luminar Technologies, Inc. (LAZR - Free Report) is slated to release fourth-quarter 2020 results on Mar 18, after the closing bell. The lidar manufacturer made its NASDAQ debut on Dec 3, 2020 by merging with a special purpose acquisition company, Gores Metropoulos, Inc. This will be the first time that Luminar would release quarterly numbers as a public company.
The Zacks Consensus Estimate for fourth-quarter loss of 6 cents per share has remained stable for the past 30 days. The consensus mark for fourth-quarter revenues is pegged at $3.95 million.
Factors at Play
Luminar’s proprietary software designed to unlock full lidar capabilities enhances automakers’ ability to deliver high-speed highway autonomy in commercial series production scale and is likely to positively impact the firm’s fourth-quarter results. The company’s contracts with Daimler AG , Intel Corp.’s (INTC - Free Report) Mobileye unit, Volvo Group and others are likely to have buoyed revenues in the to-be-reported quarter. Notably, Volvo’s vehicles will be equipped with Luminar’s Iris lidar sensors and the latter commenced shipping its first Iris units to Volvo Cars in October 2020. The company executed exclusive supply deals for all three of its key lidar components including receiver, ASIC and laser, which are expected to have buoyed the firm’s prospects in fourth-quarter 2020.
While the above-mentioned factors seem to have aided the firm’s fourth-quarter earnings, COVID-related disruptions and increasing R&D costs might have played spoilsports. While the company is still in the nascent stage, high technology and product development expenses are likely to have dented margins.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Luminar this time around. 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, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Luminar — whose closest peer is Velodyne Lidar — has an Earnings ESP of 0.00% and a Zacks Rank #3.
Zacks Top 10 Stocks for 2021
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What Investors Should Know Ahead of Luminar's (LAZR) Q4 Earnings
Luminar Technologies, Inc. (LAZR - Free Report) is slated to release fourth-quarter 2020 results on Mar 18, after the closing bell. The lidar manufacturer made its NASDAQ debut on Dec 3, 2020 by merging with a special purpose acquisition company, Gores Metropoulos, Inc. This will be the first time that Luminar would release quarterly numbers as a public company.
The Zacks Consensus Estimate for fourth-quarter loss of 6 cents per share has remained stable for the past 30 days. The consensus mark for fourth-quarter revenues is pegged at $3.95 million.
Factors at Play
Luminar’s proprietary software designed to unlock full lidar capabilities enhances automakers’ ability to deliver high-speed highway autonomy in commercial series production scale and is likely to positively impact the firm’s fourth-quarter results. The company’s contracts with Daimler AG , Intel Corp.’s (INTC - Free Report) Mobileye unit, Volvo Group and others are likely to have buoyed revenues in the to-be-reported quarter. Notably, Volvo’s vehicles will be equipped with Luminar’s Iris lidar sensors and the latter commenced shipping its first Iris units to Volvo Cars in October 2020. The company executed exclusive supply deals for all three of its key lidar components including receiver, ASIC and laser, which are expected to have buoyed the firm’s prospects in fourth-quarter 2020.
While the above-mentioned factors seem to have aided the firm’s fourth-quarter earnings, COVID-related disruptions and increasing R&D costs might have played spoilsports. While the company is still in the nascent stage, high technology and product development expenses are likely to have dented margins.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Luminar this time around. 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, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Luminar — whose closest peer is Velodyne Lidar — has an Earnings ESP of 0.00% and a Zacks Rank #3.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>