Lucid Q1 revenue and adjusted loss per share both missed expectations, suspends performance guidance
Golden Ten Data May 6th|Electric vehicle manufacturer Lucid Group announced that first quarter revenue increased by 20% year-on-year to $282.5 million, while analysts had expected $440.4 million; adjusted loss per share was $2.82, much worse than the market’s expected loss of $2.30 per share. During the period, the company produced 5,500 vehicles, a year-on-year increase of about 149%, but delivered only 3,093 vehicles, as seat supplier issues limited February deliveries. The company’s Chief Financial Officer, Taoufiq Boussaid, stated that with the arrival of the new CEO, Silvio Napoli, who is currently reviewing the business, the company is suspending previously issued guidance and will provide a full updated outlook during its second quarter earnings call. Previously, the company had predicted this year’s production to be between 25,000 and 27,000 units.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
WLD’s 15% price surge follows World Network’s launch of ‘World Money’ Super App
In the coming month, you will see bitcoin prices starting with '10', or even double eleven!
Meta (META.US) data center's first high-yield bond is oversubscribed more than four times, strong demand drives premium issuance
The first junk bond issuance by the data center division of Meta Platforms attracted demand over four times the transaction size, with its enticing yields drawing in investors.
US stock index adjustments to take effect next Monday: Bloom Energy (BE.US) and Everpure (P.US) to be included in S&P 500, changes also for mid- and small-cap stocks
Bloom Energy, Illumina, and Everpure will be included in the S&P 500 index, while several other companies will be added to the S&P 100, S&P MidCap 400, and S&P SmallCap 600 indices.
