Lucid Group reports Q1 adjusted EPS (20c), consensus (23c)

Reports Q1 revenue $235M, consensus $246.16M. Produced 2,212 vehicles in Q1, excluding over 600 vehicles in transit to Saudi Arabia for factory gating; Delivered 3,109 vehicles in Q1; up 58.1% compared to Q1 2024. “We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities,” said Marc Winterhoff, Interim CEO at Lucid. “Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well positioned for future success.” “We’re executing against our near-term goals – driving volume, improving margins, and operating with rigor,” said Taoufiq Boussaid, CFO at Lucid. “And we’re positioning ourselves for long-term value creation – with clear strategic priorities, strong liquidity, and breakthrough products that redefine their categories.”