Luxury electric car manufacturer Lucid (NASDAQ: LCID) will be reporting earnings this Tuesday afternoon. Here’s what to expect.
Lucid beat analysts’ revenue expectations last quarter, reporting revenues of $522.7 million, up 123% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Lucid a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Lucid’s revenue to grow 60.4% year on year, improving from the 36.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lucid has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Lucid’s peers in the automobile manufacturing segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Ford delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 3.7%, and Autoliv reported revenues up 6.8%, topping estimates by 4.8%. Ford traded down 1.3% following the results while Autoliv was up 9%.
Read our full analysis of Ford’s results here and Autoliv’s results here.
There has been positive sentiment among investors in the automobile manufacturing segment, with share prices up 9.4% on average over the last month. Lucid is down 30% during the same time and is heading into earnings with an average analyst price target of $12.77 (compared to the current share price of $6.53).
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