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Luminar (LAZR) to Report Q1 Earnings: What's in the Offing?
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Luminar (LAZR - Free Report) is scheduled to release first-quarter 2023 results on May 9, after the closing bell. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 24 cents per share, suggesting a year-over-year deterioration of 50%. The consensus mark has widened by 6 cents in the past 60 days.
In the last reported quarter, this lidar manufacturer incurred a net loss per share of 26 cents, wider than the consensus mark of a loss of 22 cents. In the trailing four quarters, Luminar surpassed the Zacks Consensus Estimate once and missed thrice, reporting a negative earnings surprise of 6.02% on average.
LAZR’s strategy of combining its chip design subsidiaries into a single entity and bringing advanced receiver, laser and processing chip technologies in-house are likely to have enhanced lidar performance, while securing and industrializing the supply chain. The company also unveiled and started shipping Iris+ sensors, which offer enhanced vehicle safety and autonomous capabilities to its lead customers. Brining and delivering cutting-edge technology to the market is likely to have boosted its revenues in the first quarter of 2023. The Zacks Consensus Estimate for first-quarter revenues is pegged at $13.23 million, calling for a year-over-year growth of 92.86%.
However, high technology and product development expenses are likely to have dented first-quarter margins. In the last reported quarter, Luminar recorded operating expenses of $124 million, up from $63.5 million recorded in the year-ago quarter. With the company being in the nascent stage, high operating expenses are expected to have marred its performance in the quarter to be reported.
Overall, while the company’s revenue are expected to grow, escalating R&D, sales and marketing, and G&A expenses are anticipated to have tarnished margins in the quarter under review.
What the Zacks Model Says
Our proven Zacks 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. That is not the case here.
Earnings ESP: Luminar has an Earnings ESP of -4.17%. This is because the Most Accurate Estimate is pegged one cent lower 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: LAZR currently carries a Zacks Rank of 3.
Earnings Whispers for Peers
Lucid Group (LCID - Free Report) is scheduled to report first-quarter earnings on May 8. The Zacks Consensus Estimate for LCID’s bottom line is pegged at a loss of 38 cents per share. The company has an Earnings ESP of -12.00% and a Zacks Rank #4 (Sell).
LCID surpassed earnings estimates in two of the last four quarters, while missing in the other two in fiscal 2022. It has a trailing four-quarter earnings surprise of 21.14% on average.
Nikola (NKLA - Free Report) is scheduled to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s bottom line is pegged at a loss of 28 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
NKLA surpassed earnings estimates in all the trailing four quarters in fiscal 2022, the average surprise being 19.35%.
Rivian (RIVN - Free Report) is schedule to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings bottom line is pegged at a loss of $1.51 per share. The company has an Earnings ESP of +0.84% and a Zacks Rank #3.
RIVN surpassed earnings estimates in three of the trailing four quarters and missed in one in fiscal 2022, the average surprise being 2.94%.
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Luminar (LAZR) to Report Q1 Earnings: What's in the Offing?
Luminar (LAZR - Free Report) is scheduled to release first-quarter 2023 results on May 9, after the closing bell. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 24 cents per share, suggesting a year-over-year deterioration of 50%. The consensus mark has widened by 6 cents in the past 60 days.
In the last reported quarter, this lidar manufacturer incurred a net loss per share of 26 cents, wider than the consensus mark of a loss of 22 cents. In the trailing four quarters, Luminar surpassed the Zacks Consensus Estimate once and missed thrice, reporting a negative earnings surprise of 6.02% on average.
Luminar Technologies, Inc. Price and EPS Surprise
Luminar Technologies, Inc. price-eps-surprise | Luminar Technologies, Inc. Quote
Things to Note
LAZR’s strategy of combining its chip design subsidiaries into a single entity and bringing advanced receiver, laser and processing chip technologies in-house are likely to have enhanced lidar performance, while securing and industrializing the supply chain. The company also unveiled and started shipping Iris+ sensors, which offer enhanced vehicle safety and autonomous capabilities to its lead customers. Brining and delivering cutting-edge technology to the market is likely to have boosted its revenues in the first quarter of 2023. The Zacks Consensus Estimate for first-quarter revenues is pegged at $13.23 million, calling for a year-over-year growth of 92.86%.
However, high technology and product development expenses are likely to have dented first-quarter margins. In the last reported quarter, Luminar recorded operating expenses of $124 million, up from $63.5 million recorded in the year-ago quarter. With the company being in the nascent stage, high operating expenses are expected to have marred its performance in the quarter to be reported.
Overall, while the company’s revenue are expected to grow, escalating R&D, sales and marketing, and G&A expenses are anticipated to have tarnished margins in the quarter under review.
What the Zacks Model Says
Our proven Zacks 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. That is not the case here.
Earnings ESP: Luminar has an Earnings ESP of -4.17%. This is because the Most Accurate Estimate is pegged one cent lower 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: LAZR currently carries a Zacks Rank of 3.
Earnings Whispers for Peers
Lucid Group (LCID - Free Report) is scheduled to report first-quarter earnings on May 8. The Zacks Consensus Estimate for LCID’s bottom line is pegged at a loss of 38 cents per share. The company has an Earnings ESP of -12.00% and a Zacks Rank #4 (Sell).
LCID surpassed earnings estimates in two of the last four quarters, while missing in the other two in fiscal 2022. It has a trailing four-quarter earnings surprise of 21.14% on average.
Nikola (NKLA - Free Report) is scheduled to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s bottom line is pegged at a loss of 28 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
NKLA surpassed earnings estimates in all the trailing four quarters in fiscal 2022, the average surprise being 19.35%.
Rivian (RIVN - Free Report) is schedule to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings bottom line is pegged at a loss of $1.51 per share. The company has an Earnings ESP of +0.84% and a Zacks Rank #3.
RIVN surpassed earnings estimates in three of the trailing four quarters and missed in one in fiscal 2022, the average surprise being 2.94%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.