Lucid Group Inc (NASDAQ:LCID) Q4 Earnings Announcement
Luxury electric car manufacturer Lucid will be announcing its earnings results this Tuesday afternoon. Here’s what investors should know.
Previous Quarter Performance
Lucid missed analysts’ revenue expectations last quarter, reporting revenues of $336.6 million, which represents a 68.3% increase year on year. This quarter proved to be disappointing, as the company fell short of both revenue and adjusted operating income estimates.
Expectations for Q4
This quarter, the market anticipates that Lucid’s revenue will grow by 90% year on year, an improvement from the 49.2% increase seen during the same quarter last year.
Analyst Sentiment
Over the past 30 days, analysts covering Lucid have largely reaffirmed their estimates, indicating confidence in the company’s ability to maintain its trajectory heading into the earnings announcement. However, Lucid has missed Wall Street’s revenue estimates on multiple occasions in the past two years.
Industry Insights
Looking at Lucid’s peers in the automobile manufacturing sector, some have already reported their Q4 results, providing insights into potential outcomes for Lucid. General Motors reported a 5.1% year-on-year decrease in revenues, missing expectations by 1.1%, while Autoliv saw a 7.7% increase in revenues, exceeding estimates by 1.2%. Following their results, General Motors shares traded up 6.9%, while Autoliv’s shares fell by 4.7%.
Current Market Sentiment
Investor sentiment within the automobile manufacturing sector has been positive, with average share prices rising by 7.1% over the last month. In contrast, Lucid has seen a decline of 10% during the same timeframe, entering earnings week with an average analyst price target of $16.67, compared to its current share price of $9.59.
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