Lucid Group reports Q2 adjusted EPS (24c), consensus (22c)

Reports Q2 revenue $259.4M, consensus $262.64M. Produced 3,863 vehicles in Q2. Delivered 3,309 vehicles in Q2; up 38.2% compared to Q2 2024. “We had our sixth consecutive quarter of record deliveries in Q2 and expect to continue this trend as we ramp up Lucid Gravity production in the second half of the year,” said Marc Winterhoff, Interim CEO at Lucid. “In Q1, we mentioned our ongoing partnership discussions to develop new revenue streams for our EV technology and beyond. The robotaxi partnership we announced with Uber and Nuro is a perfect example aligned with that strategy. We also continued to double down on increasing our brand awareness, introducing Timothee Chalamet, an award-winning actor and cultural icon, as our first global brand ambassador.” “We delivered solid performance despite a challenging macroeconomic backdrop, thanks to the adaptability and focus of our team in navigating a dynamic environment,” said Taoufiq Boussaid, CFO at Lucid. “We are focused on business fundamentals to achieve our near-term goals: disciplined cost management, brand building, and continuing to execute our Lucid Gravity launch ramp. We remain committed to strengthening our balance sheet and maintaining long-term alignment with partners and shareholders.”