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LCID Stock: 3 Things to Watch When Lucid Motors Reports Earnings


  • Lucid (LCID) will report second-quarter earnings tomorrow.
  • Analysts are expecting revenue of $145.49 million.
  • Shares of LCID stock are down more than 50% year-to-date.
LCID stock - LCID Stock: 3 Things to Watch When Lucid Motors Reports Earnings

Source: Tada Images / Shutterstock

Shares of Lucid (NASDAQ:LCID) are in full focus, as the company will report second-quarter earnings tomorrow after the market close. During Q1, the company delivered 360 electric vehicles (EVs) and disclosed over 30,000 vehicle reservations. Those do not include an order from Saudi Arabia of up to 100,000 vehicles over the next ten years.

In February, Lucid decreased its full-year production guidance of 20,000 vehicles to a range of 12,000 to 14,000 vehicles. It attributed the lowered production to supply chain issues, such as difficulties in acquiring materials like glass and carpet.

With that in mind, let’s take a look at three metrics to watch during tomorrow’s earnings.

LCID Stock: 3 Earnings Metrics to Watch

First, investors will want to watch out for revenue. The consensus analyst estimate is $145.49 million, with the low forecast at $118.47 million and the high at $166 million. During Q1, Lucid reported revenue of $57.7 million. The consensus revenue estimate for Q2 would imply quarter-over-quarter (QOQ) growth of 152%.

Earnings per share (EPS) will be crucial as well. Analysts are expecting a loss of 36 cents, with a low estimate of a loss of 48 cents and a high estimate of a loss of 23 cents. During the previous quarter, Lucid reported a net loss of $81.3 million, which equated to an EPS loss of 5 cents. A lower QOQ EPS does not bode well for the company’s profitability. However, as a young EV startup, losses are expected as Lucid works to ramp up production and brand image.

Finally, guidance will be a key element of the company’s earnings. For Q3, analysts are expecting revenue of $403.9 million. The low estimate lies at $394 million, while the high estimate is $418 million. For Q3 EPS, analysts expect a loss of 34 cents. The low EPS estimate is a loss of 43 cents, while the high is a loss of 24 cents.

Full-year production guidance will be significant as well. If Lucid reduces its current guidance, LCID stock will certainly take a hit.

Investors are also anticipating updates for Lucid’s luxury SUV called Gravity. The company believes it will begin Gravity production in the first half of 2024.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2022/08/lcid-stock-3-things-to-watch-when-lucid-motors-reports-earnings/.

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