Luxury electric car manufacturer Lucid (NASDAQ: LCID) will be reporting results this Tuesday after market close. Here’s what investors should know.
Lucid missed analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $235 million, up 36.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ sales volume estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Lucid a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lucid’s revenue to grow 29.2% year on year to $259.1 million, slowing from the 32.9% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.22 per share.
The majority of analysts covering the company have 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 four times over the last two years.
Looking at Lucid’s peers in the automobile manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ford delivered year-on-year revenue growth of 5%, beating analysts’ expectations by 7.8%, and Winnebago reported a revenue decline of 1.4%, falling short of estimates by 0.8%. Ford traded up 1.6% following the results while Winnebago was down 8.5%.
Read our full analysis of Ford’s results here and Winnebago’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 up 15.2% during the same time and is heading into earnings with an average analyst price target of $2.67 (compared to the current share price of $2.43).
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