Lucid Earnings: What To Look For From LCID

Luxury electric car manufacturer Lucid (NASDAQ:LCID) will be reporting results this Wednesday after the bell. Here’s what you need to know.

Lucid met analysts’ revenue expectations last quarter, reporting revenues of $259.4 million, up 29.3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.

Is Lucid a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Lucid’s revenue to grow 73.9% year on year to $347.8 million, improving from the 45.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$2.22 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lucid has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Lucid’s peers in the automobile manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Ford delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 9.1%, and General Motors reported flat revenue, topping estimates by 7.9%. Ford traded up 12.4% following the results while General Motors was also up 16%.

Read our full analysis of Ford’s results here and General Motors’s results here.

Investors in the automobile manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. Lucid is down 30.8% during the same time and is heading into earnings with an average analyst price target of $23.43 (compared to the current share price of $16.63).

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