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Lucid (LCID) to Report Q1 Earnings: What's in the Cards?
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Lucid Group (LCID - Free Report) is scheduled to release first-quarter 2022 results on May 5, after the bell. The Zacks Consensus Estimate is pegged at a loss of 30 cents per share for the quarter. The consensus mark for Lucid’s first-quarter loss per share has been unchanged in the past 30 days.
This electric vehicle company made its NASDAQ debut on Jul 26, 2021. The company released quarterly results twice after becoming public, and incurred wider-than-expected loss both the times. In the last quarter, it posted a net loss per share of 37 cents, wider than the Zacks Consensus Estimate of 26 cents per share. Let’s take a look how things are shaping up ahead of its Q1 earnings release.
Earnings Whispers
Our proven Zacks model does not conclusively predict an earnings beat for Lucid this time around as well. 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. That is not the case here.
Earnings ESP: Lucid has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate is on par with 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 3.
Customer vehicle production of the company’s first car — Lucid Air — began in the third quarter of 2021 and as of Lucid's February 28 earnings report, the company had produced more than 400 EVs and delivered 300 (out of which 125 had been delivered in the fourth-quarter of 2021). The company notified in Feb that customer reservation orders of 25,000 units reflect potential sales of over $2.4 billion. The company’s deliveries in Q1 are likely to almost double from the last reported quarter, which augurs well for revenue growth.
On the flip side, though, high operating expenses incurred by Lucid are likely to have played a spoilsport. With the company still being in the nascent stage, high technology and product development expenses are likely to have dented margins. Continued spending in capacity expansion of the manufacturing facility in Arizona coupled with the opening of new retail and service locations have been escalating operating costs. In the last reported quarter, selling, general & administrative costs flared up 532% year over year. Elevated R&D and SG&A spending is likely to have continued, thereby denting margins.
During the quarter-to-be-reported, Lucid expanded its presence in Canada with the Toronto Studio opening. Investment in property and equipment associated with the expansion of production, expansion of retail, delivery, and service capacities along with continued investment in vehicle program development are also likely to have marred cash flows in the quarter-to-be-reported.
What Awaits Peer Releases?
Nikola (NKLA - Free Report) : Our proprietary model does not conclusively predict an earnings beat for Nikola this time around. Nikola has an Earnings ESP of -35.85% and a Zacks Rank #3. The company is set to report first-quarter 2022 earnings on May 5.
The Zacks Consensus Estimate for Nikola’s to-be-reported quarter’s loss is pegged at 27 cents per share. In the last reported quarter, NKLA incurred a loss of 23 cents, narrower than the Zacks Consensus Estimate of a loss of 29 cents.
Rivian Automotive (RIVN - Free Report) : Our proven model does not conclusively predict an earnings beat for Rivian this time around. The EV upstart has an Earnings ESP of -8.38% and a Zacks Rank #3. The company is set to report first-quarter 2022 earnings on May 11.
The Zacks Consensus Estimate for Rivian’s to-be-reported quarter’s loss is pegged at $1.50 per share. In the last reported quarter, RIVN incurred a loss of $2.43 a share, wider than the Zacks Consensus Estimate of a loss of $1.58.
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Lucid (LCID) to Report Q1 Earnings: What's in the Cards?
Lucid Group (LCID - Free Report) is scheduled to release first-quarter 2022 results on May 5, after the bell. The Zacks Consensus Estimate is pegged at a loss of 30 cents per share for the quarter. The consensus mark for Lucid’s first-quarter loss per share has been unchanged in the past 30 days.
This electric vehicle company made its NASDAQ debut on Jul 26, 2021. The company released quarterly results twice after becoming public, and incurred wider-than-expected loss both the times. In the last quarter, it posted a net loss per share of 37 cents, wider than the Zacks Consensus Estimate of 26 cents per share. Let’s take a look how things are shaping up ahead of its Q1 earnings release.
Earnings Whispers
Our proven Zacks model does not conclusively predict an earnings beat for Lucid this time around as well. 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. That is not the case here.
Earnings ESP: Lucid has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate is on par with 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 3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Things to Consider
Customer vehicle production of the company’s first car — Lucid Air — began in the third quarter of 2021 and as of Lucid's February 28 earnings report, the company had produced more than 400 EVs and delivered 300 (out of which 125 had been delivered in the fourth-quarter of 2021). The company notified in Feb that customer reservation orders of 25,000 units reflect potential sales of over $2.4 billion. The company’s deliveries in Q1 are likely to almost double from the last reported quarter, which augurs well for revenue growth.
On the flip side, though, high operating expenses incurred by Lucid are likely to have played a spoilsport. With the company still being in the nascent stage, high technology and product development expenses are likely to have dented margins. Continued spending in capacity expansion of the manufacturing facility in Arizona coupled with the opening of new retail and service locations have been escalating operating costs. In the last reported quarter, selling, general & administrative costs flared up 532% year over year. Elevated R&D and SG&A spending is likely to have continued, thereby denting margins.
During the quarter-to-be-reported, Lucid expanded its presence in Canada with the Toronto Studio opening. Investment in property and equipment associated with the expansion of production, expansion of retail, delivery, and service capacities along with continued investment in vehicle program development are also likely to have marred cash flows in the quarter-to-be-reported.
What Awaits Peer Releases?
Nikola (NKLA - Free Report) : Our proprietary model does not conclusively predict an earnings beat for Nikola this time around. Nikola has an Earnings ESP of -35.85% and a Zacks Rank #3. The company is set to report first-quarter 2022 earnings on May 5.
The Zacks Consensus Estimate for Nikola’s to-be-reported quarter’s loss is pegged at 27 cents per share. In the last reported quarter, NKLA incurred a loss of 23 cents, narrower than the Zacks Consensus Estimate of a loss of 29 cents.
Rivian Automotive (RIVN - Free Report) : Our proven model does not conclusively predict an earnings beat for Rivian this time around. The EV upstart has an Earnings ESP of -8.38% and a Zacks Rank #3. The company is set to report first-quarter 2022 earnings on May 11.
The Zacks Consensus Estimate for Rivian’s to-be-reported quarter’s loss is pegged at $1.50 per share. In the last reported quarter, RIVN incurred a loss of $2.43 a share, wider than the Zacks Consensus Estimate of a loss of $1.58.
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