We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
How's Nikola (NKLA) Placed Ahead of Q1 Earnings Release?
Read MoreHide Full Article
Nikola Corporation’s (NKLA - Free Report) first-quarter 2022 results are scheduled to be out on May 5, before the opening bell. The Zacks Consensus Estimate for the quarter’s loss is pegged at 27 cents per share. The loss estimate has widened by 4 cents over the past 30 days. The projection suggests a year-over-year deterioration of 92.8%.
In the last reported quarter, Nikola incurred a loss per share of 23 cents, narrower than the Zacks Consensus Estimate of a loss of 29 cents. Over the preceding four quarters, Nikola surpassed the Zacks Consensus Estimate on all occasions, with the average being 27.4%. This is depicted in the chart below:
Our proven model does not conclusively predict an earnings beat for Nikola 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.
Earnings ESP: Nikola has an Earnings ESP of -35.85%. This is because the Most Accurate Estimate is pegged at a loss of 36 cents, wider than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
While NKLA hit a major milestone in December with the delivery of its first two Nikola Tre battery-electric vehicle (BEV) pilot trucks to Total Transportation Services Inc., the EV startup is yet to generate revenues. Nikola commenced the BEV truck series commercial production at its Coolidge, AZ factory on Mar 21, 2022 but the deliveries will only pick pace from the second quarter of 2022. The company expects to deliver 300-500 BEV trucks largely in the second half of 2022. So, we don’t expect the company to record any meaningful revenues this quarter as well. Also, given that Nikola is still in the nascent stage, its fate depends on how its pilot trucks are received by customers.
Additionally, NKLA has been burning cash, which might have affected its first-quarter bottom line. Elevated spending in a bid to develop and test state-of-the-art technologies and add new sales and service locations might have put the firm’s first-quarter margins under pressure. In the last reported quarter, Nikola spent $91 million on R&D activities, reflecting a yearly uptick of 34.8%. SG&A expenses flared up 10.2% year over year to $71.5 million for the fourth quarter of 2021. Escalation of operating expenses is expected to have continued in the to-be-reported quarter.
Upcoming Peer Releases
Lucid Group (LCID - Free Report) : Our proprietary model does not conclusively predict an earnings beat for Lucid this time around. Lucid, which went public in July 2021, has an Earnings ESP of 0.00% and a Zacks Rank #3. The company is set to report first-quarter 2022 earnings on May 5.
The Zacks Consensus Estimate for Lucid’s to-be-reported quarter’s loss is pegged at 30 cents per share. In the last reported quarter, LCID incurred a loss of 37 cents, wider than the Zacks Consensus Estimate of a loss of 26 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.
Image: Bigstock
How's Nikola (NKLA) Placed Ahead of Q1 Earnings Release?
Nikola Corporation’s (NKLA - Free Report) first-quarter 2022 results are scheduled to be out on May 5, before the opening bell. The Zacks Consensus Estimate for the quarter’s loss is pegged at 27 cents per share. The loss estimate has widened by 4 cents over the past 30 days. The projection suggests a year-over-year deterioration of 92.8%.
In the last reported quarter, Nikola incurred a loss per share of 23 cents, narrower than the Zacks Consensus Estimate of a loss of 29 cents. Over the preceding four quarters, Nikola surpassed the Zacks Consensus Estimate on all occasions, with the average being 27.4%. This is depicted in the chart below:
Nikola Corporation Price and EPS Surprise
Nikola Corporation price-eps-surprise | Nikola Corporation Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Nikola 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.
Earnings ESP: Nikola has an Earnings ESP of -35.85%. This is because the Most Accurate Estimate is pegged at a loss of 36 cents, wider 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: Nikola currently carries a Zacks Rank of 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors at Play
While NKLA hit a major milestone in December with the delivery of its first two Nikola Tre battery-electric vehicle (BEV) pilot trucks to Total Transportation Services Inc., the EV startup is yet to generate revenues. Nikola commenced the BEV truck series commercial production at its Coolidge, AZ factory on Mar 21, 2022 but the deliveries will only pick pace from the second quarter of 2022. The company expects to deliver 300-500 BEV trucks largely in the second half of 2022. So, we don’t expect the company to record any meaningful revenues this quarter as well. Also, given that Nikola is still in the nascent stage, its fate depends on how its pilot trucks are received by customers.
Additionally, NKLA has been burning cash, which might have affected its first-quarter bottom line. Elevated spending in a bid to develop and test state-of-the-art technologies and add new sales and service locations might have put the firm’s first-quarter margins under pressure. In the last reported quarter, Nikola spent $91 million on R&D activities, reflecting a yearly uptick of 34.8%. SG&A expenses flared up 10.2% year over year to $71.5 million for the fourth quarter of 2021. Escalation of operating expenses is expected to have continued in the to-be-reported quarter.
Upcoming Peer Releases
Lucid Group (LCID - Free Report) : Our proprietary model does not conclusively predict an earnings beat for Lucid this time around. Lucid, which went public in July 2021, has an Earnings ESP of 0.00% and a Zacks Rank #3. The company is set to report first-quarter 2022 earnings on May 5.
The Zacks Consensus Estimate for Lucid’s to-be-reported quarter’s loss is pegged at 30 cents per share. In the last reported quarter, LCID incurred a loss of 37 cents, wider than the Zacks Consensus Estimate of a loss of 26 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.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.