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Lucid Group (LCID)
NASDAQ:LCID
Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.25Last Year’s EPS
-0.29Same Quarter Last Year
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 49.10%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements in vehicle deliveries and capital raising, alongside strong safety ratings and the launch of new products. However, it also addressed challenges related to high operating expenses, substantial net losses, and cost management issues.Company Guidance
During the Lucid Group's Q3 2024 earnings call, the company provided several key metrics and guidance for its future performance. Lucid achieved record deliveries of 2,781 vehicles, marking a 91% increase year-over-year and a 16% sequential increase, and they produced 1,805 vehicles in the quarter. Revenue reached approximately $200 million, up 45.2% year-over-year. The company reaffirmed its guidance to produce approximately 9,000 vehicles for the full year 2024. Lucid raised $1.75 billion in capital, providing financial runway well into 2026. The company plans to strategically expand its footprint, with 55 studio and service centers and 72 mobile service vans as of the third quarter. Additionally, Lucid reduced its 2024 CapEx guidance to approximately $1 billion from $1.3 billion, reflecting savings and deferrals into 2025. The upcoming Lucid Gravity SUV is expected to drive future growth, with production scheduled to start in late 2024.Record Vehicle Deliveries
Lucid Group delivered 2,781 vehicles in Q3 2024, marking an approximately 91% year-over-year increase and a 16% sequential increase, outperforming typical seasonal industry trends.
Successful Capital Raise
Lucid raised approximately $1.75 billion through a public offering and an investment by the Public Investment Fund, providing sufficient financial runway into 2026.
Lucid Air Safety Ratings
Lucid Air earned the highest possible overall safety rating of 5 stars from both the National Highway Traffic Safety Administration and the European New Car Assessment Program.
Launch of Lucid Gravity
Lucid opened orders for the Lucid Gravity SUV, with significant interest and increased foot traffic in showrooms by more than 70%.
Improved Gross Margin
GAAP gross margin improved by 28 percentage points sequentially, driven by cost reduction initiatives.
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LCID Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LCID Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $2.22 | $2.21 | -0.45% |
| Aug 05, 2024 | $3.00 | $3.09 | +3.00% |
| May 06, 2024 | $3.05 | $2.62 | -14.10% |
| Feb 21, 2024 | $3.70 | $3.08 | -16.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Lucid Group (LCID) report earnings?
Lucid Group (LCID) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Lucid Group (LCID) earnings time?
Lucid Group (LCID) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LCID EPS forecast?
LCID EPS forecast for the fiscal quarter 2024 (Q4) is -0.25.
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