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What's in the Offing for Fisker (FSR) This Earnings Season?
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Fisker Inc. is slated to release third-quarter 2022 results on Nov 2, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share is pegged at 43 cents.
For the third quarter, the consensus estimate for FSR’s loss per share has remained constant in the past 60 days. Its bottom-line estimates imply a decline of 16.2% from the year-ago reported number. Over the trailing four quarters, FSR surpassed the consensus estimate only once, with the average being a negative surprise of 0.98%. This is depicted in the graph below:
In second-quarter 2022, Fisker incurred a net quarterly loss of 36 cents per share, narrower than the Zacks Consensus Estimate of a loss of 41 cents. This compares to a loss of 16 cents per share a year ago.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Fisker for the quarter to be reported, as it does not have the right combination of the two key ingredients. A 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: FSR has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate equals the Zacks Consensus Estimate.
Zacks Rank: It currently carries a Zacks Rank of 2.
The unprecedented growth in EVs globally has seen an expanding market share for electrification. Despite Fisker being a novice EV maker, it is carrying out sound expansion plans and launching new products. Its renowned Fisker Ocean SUV has garnered ample steam as trim levels were sold out during the third quarter. It is also making rapid progress on Fisker Ocean testing and validation. All these are likely to have aided its quarterly performance. Large-scale production will begin this month, and sales are expected to boost henceforth.
Fisker has set up Fisker Finance, a digital financing platform offering loan purchase options to its customers. The digitization initiative is also anticipated to bode well for its prospects in the quarter to be reported. Additionally, the expansion of its pipeline of customer product locations increases its footprint and is likely to aid its third-quarter results.
On a bearish note, Fisker’s efforts in ramping up production and expanding locations are likely to put a strain on its financials. Research and development and selling, general and administrative expenses have been flaring up year on year and are likely to be so in the third quarter, denting margins. Discouragingly, Fisker has not been able to record a profit yet.
Stocks With Favorable Combination
While an earnings beat is uncertain for Fisker, here are a few stocks, which, according to our model, have the right combination of elements to post an earnings beat for the quarter to be reported:
CNH Industrial (CNHI - Free Report) will release third-quarter 2022 results on Nov 08. The company has an Earnings ESP of +6.25% and a Zacks Rank #3.
The Zacks Consensus Estimate for CNH Industrial’s to-be-reported quarter’s earnings and revenues is pegged at 32 cents per share and $5.33 billion, respectively. CNHI surpassed earnings estimates in all four trailing quarters, with the average surprise being 27.73%.
Rivian Automotive (RIVN - Free Report) will release third-quarter 2022 results on Nov 9. The company has an Earnings ESP of +0.47% and a Zacks Rank #3.
The Zacks Consensus Estimate is pegged at a loss of $1.78 a share for Rivian’s to-be-reported quarter, and the same for revenues is pegged at $512.31 million. RIVN surpassed earnings estimates in two of the trailing four quarters and missed the rest, with the average surprise being a negative 6.68%.
Image: Bigstock
What's in the Offing for Fisker (FSR) This Earnings Season?
Fisker Inc. is slated to release third-quarter 2022 results on Nov 2, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share is pegged at 43 cents.
For the third quarter, the consensus estimate for FSR’s loss per share has remained constant in the past 60 days. Its bottom-line estimates imply a decline of 16.2% from the year-ago reported number. Over the trailing four quarters, FSR surpassed the consensus estimate only once, with the average being a negative surprise of 0.98%. This is depicted in the graph below:
Fisker Inc. Price and EPS Surprise
Fisker Inc. price-eps-surprise | Fisker Inc. Quote
Q2 Highlights
In second-quarter 2022, Fisker incurred a net quarterly loss of 36 cents per share, narrower than the Zacks Consensus Estimate of a loss of 41 cents. This compares to a loss of 16 cents per share a year ago.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Fisker for the quarter to be reported, as it does not have the right combination of the two key ingredients. A 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: FSR has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate equals the Zacks Consensus Estimate.
Zacks Rank: It currently carries a Zacks Rank of 2.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Things to Note
The unprecedented growth in EVs globally has seen an expanding market share for electrification. Despite Fisker being a novice EV maker, it is carrying out sound expansion plans and launching new products. Its renowned Fisker Ocean SUV has garnered ample steam as trim levels were sold out during the third quarter. It is also making rapid progress on Fisker Ocean testing and validation. All these are likely to have aided its quarterly performance. Large-scale production will begin this month, and sales are expected to boost henceforth.
Fisker has set up Fisker Finance, a digital financing platform offering loan purchase options to its customers. The digitization initiative is also anticipated to bode well for its prospects in the quarter to be reported. Additionally, the expansion of its pipeline of customer product locations increases its footprint and is likely to aid its third-quarter results.
On a bearish note, Fisker’s efforts in ramping up production and expanding locations are likely to put a strain on its financials. Research and development and selling, general and administrative expenses have been flaring up year on year and are likely to be so in the third quarter, denting margins. Discouragingly, Fisker has not been able to record a profit yet.
Stocks With Favorable Combination
While an earnings beat is uncertain for Fisker, here are a few stocks, which, according to our model, have the right combination of elements to post an earnings beat for the quarter to be reported:
CNH Industrial (CNHI - Free Report) will release third-quarter 2022 results on Nov 08. The company has an Earnings ESP of +6.25% and a Zacks Rank #3.
The Zacks Consensus Estimate for CNH Industrial’s to-be-reported quarter’s earnings and revenues is pegged at 32 cents per share and $5.33 billion, respectively. CNHI surpassed earnings estimates in all four trailing quarters, with the average surprise being 27.73%.
Rivian Automotive (RIVN - Free Report) will release third-quarter 2022 results on Nov 9. The company has an Earnings ESP of +0.47% and a Zacks Rank #3.
The Zacks Consensus Estimate is pegged at a loss of $1.78 a share for Rivian’s to-be-reported quarter, and the same for revenues is pegged at $512.31 million. RIVN surpassed earnings estimates in two of the trailing four quarters and missed the rest, with the average surprise being a negative 6.68%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.