The earnings call presented a mixed picture with strong sales growth, revenue improvement, and effective cost management as key highlights. However, the company also faced significant challenges, including a year-over-year revenue decline, increased operating losses, and pressures from competitive markets and tariffs. The introduction of a new CEO and production milestones offer potential for future growth.

Company Guidance

During the Polestar Q2 2024 earnings call, guidance was provided indicating a strong outlook for the second half of the year, with a particular emphasis on increased vehicle sales and improved financial performance. The company reported a significant increase in global vehicle sales, up more than 80% to 13,150 cars, and a close to 70% rise in revenue to USD 575 million compared to the previous quarter. Despite a small negative gross result of USD 4 million, Polestar is optimistic about achieving a double-digit gross margin by year-end, driven by increased deliveries of Polestar 3 and 4 models. Operating loss increased slightly to USD 242 million, but the company highlighted robust cost management, with SG&A expenses only up 6% despite the substantial volume growth. The cash position was strong, with USD 669 million on hand and an additional USD 300 million secured in external funding, positioning Polestar well to manage near-term capital needs. The company also expects continued improvements in working capital, emphasizing its efforts to maintain a lean inventory and enhance cash flow.

Significant Sales Growth

Global vehicle sales reached 13,150 cars, marking an increase of more than 80% compared to Q1 2024.

Revenue Improvement

Revenue surged nearly 70% to USD 575 million from Q1 2024.

Cost Management Success

Selling, general, and administrative costs increased by only 6% despite over 80% volume growth, due to effective cost management measures.

Inventory and Cash Flow Improvements

USD 300 million in inventory was released, contributing to improved cash flow. Cash and cash equivalents were reported at USD 669 million.

New CEO Announcement

Michael Lohscheller, with over 25 years of automotive industry experience, was announced as the incoming CEO of Polestar.

Production Milestone

Production of Polestar 3 began in South Carolina, marking Polestar's first manufacturing operation on two continents.

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Polestar Automotive Holding UK (PSNY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PSNY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2022	2022 (Q3)	-0.14 / -0.14	-0.228	38.60% (+0.09)
Mar 02, 2023	2022 (Q4)	-0.13 / -0.24	-0.466	48.50% (+0.23)
May 11, 2023	2023 (Q1)	-0.12 / -0.01	-0.096	89.58% (+0.09)
Aug 31, 2023	2023 (Q2)	-0.13 / -0.14	―	―
Nov 08, 2023	2023 (Q3)	-0.15 / -0.07	-0.14	48.57% (+0.07)
Mar 07, 2024	2023 (Q4)	-0.16 / -0.15	-0.24	36.25% (+0.09)	―	―
Jul 02, 2024	2024 (Q1)	-0.17 / -0.14	-0.14	-2.86% (>-0.01)	―
Aug 29, 2024	2024 (Q2)	- / -0.14	-0.14	2.86% (<+0.01)	―
Nov 08, 2024	2024 (Q3)	-0.15 / -0.16	-0.072	-122.22% (-0.09)	―	―
Feb 27, 2025	2024 (Q4)	-0.14 / -	-0.33	―	―	―

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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PSNY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 08, 2024	$1.26	$1.23	-2.38%
Aug 29, 2024	$0.94	$1.07	+13.83%
Jul 02, 2024	$0.92	$0.90	-2.17%
Mar 07, 2024	$1.78	$1.74	-2.25%

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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