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Lucid (LCID) to Report Q4 Earnings: What's in the Cards?
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Lucid Group (LCID - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 21, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues is pegged at 28 cents and $166.76 million, respectively. The consensus mark for Lucid’s fourth-quarter loss per share has narrowed by 1 cent in the past 30 days.
Lucid’s bottom-line estimates imply growth of 30% from the year-ago reported figure. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year decline of 35.3%.
In the last reported quarter, it posted a net loss of 28 cents per share, wider than the Zacks Consensus Estimate of a loss of 27 cents and the year-ago loss of 40 cents. It reported revenues of $138 million, missing the Zacks Consensus Estimate of $153 million and $195 million recorded in the year-ago quarter.
Over the trailing four quarters, Lucid has missed earnings estimates in each of the trailing four quarters, the average negative surprise being 7.70%. This is depicted in the graph below:
Let’s take a look at how things have shaped ahead of its fourth-quarter earnings release.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Lucid. 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, as elaborated below.
Earnings ESP: Lucid has an Earnings ESP of -14.29%. This is because the Most Accurate Estimate for a loss of 3 cents is 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: LCID currently carries a Zacks Rank #3.
Key Developments in Q4
Lucid introduces the Lucid Air Pure RWD, completing its model lineup with a range of 410 miles and a starting price of $77,400. The company’s CEO, Peter Rawlinson, praises its style, technology and surpassing range, emphasizing its accessibility. The most aerodynamic car in production, the Air Pure RWD, features a luxurious interior inspired by Midcentury Modern design. LCID's proprietary EV technology allows for longer drives with less charging time and its innovative motor delivers silent, driver-oriented performance. With spacious seating and ample storage, the Air Pure RWD offers unparalleled comfort and convenience, equipped with advanced features and a dynamic digital environment.
It recently unveiled the groundbreaking Lucid Gravity luxury electric SUV. With space for seven adults and their gear, it promises a driving range exceeding 440 miles. The company’s CEO, Peter Rawlinson, highlights its innovative technology and design, offering unparalleled space, luxury and versatility. The Gravity SUV debuts at the Los Angeles Auto Show, with production slated for late 2024. Rawlinson emphasizes Lucid's proprietary EV powertrain technology, enabling exceptional range with a compact battery pack. The Gravity SUV represents a leap forward in electric SUVs, combining performance, luxury and efficiency seamlessly.
Factors to Note
In the fourth quarter, Lucid produced 2,391 vehicles, up from 1,550 vehicles in the third quarter. The company delivered 1,734 vehicles in the fourth quarter, up from 1,457 in the third quarter. The rise in deliveries is likely to have benefited Lucid’s performance in the to-be-reported quarter.
Discouragingly, in the third quarter of 2023, Lucid’s research and development expenses shot up to $230.8 million, up from $213.8 million in the corresponding quarter of 2022. Also, the company’s selling, general and administrative expenses increased to $189.7 million from $176.7 million in the corresponding quarter of 2022. Rising higher operating expenses are likely to have hurt LCID’s margin in the to-be-reported quarter.
Earnings Whispers for Other Auto Stocks
Rivian Automotive, Inc. (RIVN - Free Report) is scheduled to post fourth-quarter earnings on Feb 21. The Zacks Consensus Estimate is pegged at a loss of $1.39 cents per share. The company has an Earnings ESP of +0.72% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RIVN surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.40%.
Nikola Corporation (NKLA - Free Report) is scheduled to post fourth-quarter earnings on Feb 22. The Zacks Consensus Estimate is pegged at a loss of 16 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
NKLA surpassed earnings estimates in three of the trailing four quarters and missed once, the average negative surprise being 14.16%.
Fisker Inc. is scheduled to post fourth-quarter earnings on Feb 26. The Zacks Consensus Estimate is pegged at a loss of 20 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
FSR surpassed earnings estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 23.37%.
Image: Bigstock
Lucid (LCID) to Report Q4 Earnings: What's in the Cards?
Lucid Group (LCID - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 21, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues is pegged at 28 cents and $166.76 million, respectively. The consensus mark for Lucid’s fourth-quarter loss per share has narrowed by 1 cent in the past 30 days.
Lucid’s bottom-line estimates imply growth of 30% from the year-ago reported figure. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year decline of 35.3%.
In the last reported quarter, it posted a net loss of 28 cents per share, wider than the Zacks Consensus Estimate of a loss of 27 cents and the year-ago loss of 40 cents. It reported revenues of $138 million, missing the Zacks Consensus Estimate of $153 million and $195 million recorded in the year-ago quarter.
Over the trailing four quarters, Lucid has missed earnings estimates in each of the trailing four quarters, the average negative surprise being 7.70%. This is depicted in the graph below:
Lucid Group, Inc. Price and EPS Surprise
Lucid Group, Inc. price-eps-surprise | Lucid Group, Inc. Quote
Let’s take a look at how things have shaped ahead of its fourth-quarter earnings release.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Lucid. 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, as elaborated below.
Earnings ESP: Lucid has an Earnings ESP of -14.29%. This is because the Most Accurate Estimate for a loss of 3 cents is 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: LCID currently carries a Zacks Rank #3.
Key Developments in Q4
Lucid introduces the Lucid Air Pure RWD, completing its model lineup with a range of 410 miles and a starting price of $77,400. The company’s CEO, Peter Rawlinson, praises its style, technology and surpassing range, emphasizing its accessibility. The most aerodynamic car in production, the Air Pure RWD, features a luxurious interior inspired by Midcentury Modern design. LCID's proprietary EV technology allows for longer drives with less charging time and its innovative motor delivers silent, driver-oriented performance. With spacious seating and ample storage, the Air Pure RWD offers unparalleled comfort and convenience, equipped with advanced features and a dynamic digital environment.
It recently unveiled the groundbreaking Lucid Gravity luxury electric SUV. With space for seven adults and their gear, it promises a driving range exceeding 440 miles. The company’s CEO, Peter Rawlinson, highlights its innovative technology and design, offering unparalleled space, luxury and versatility. The Gravity SUV debuts at the Los Angeles Auto Show, with production slated for late 2024. Rawlinson emphasizes Lucid's proprietary EV powertrain technology, enabling exceptional range with a compact battery pack. The Gravity SUV represents a leap forward in electric SUVs, combining performance, luxury and efficiency seamlessly.
Factors to Note
In the fourth quarter, Lucid produced 2,391 vehicles, up from 1,550 vehicles in the third quarter. The company delivered 1,734 vehicles in the fourth quarter, up from 1,457 in the third quarter. The rise in deliveries is likely to have benefited Lucid’s performance in the to-be-reported quarter.
Discouragingly, in the third quarter of 2023, Lucid’s research and development expenses shot up to $230.8 million, up from $213.8 million in the corresponding quarter of 2022. Also, the company’s selling, general and administrative expenses increased to $189.7 million from $176.7 million in the corresponding quarter of 2022. Rising higher operating expenses are likely to have hurt LCID’s margin in the to-be-reported quarter.
Earnings Whispers for Other Auto Stocks
Rivian Automotive, Inc. (RIVN - Free Report) is scheduled to post fourth-quarter earnings on Feb 21. The Zacks Consensus Estimate is pegged at a loss of $1.39 cents per share. The company has an Earnings ESP of +0.72% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RIVN surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.40%.
Nikola Corporation (NKLA - Free Report) is scheduled to post fourth-quarter earnings on Feb 22. The Zacks Consensus Estimate is pegged at a loss of 16 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
NKLA surpassed earnings estimates in three of the trailing four quarters and missed once, the average negative surprise being 14.16%.
Fisker Inc. is scheduled to post fourth-quarter earnings on Feb 26. The Zacks Consensus Estimate is pegged at a loss of 20 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
FSR surpassed earnings estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 23.37%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.