Lucid Group LCID is all set to unveil its fourth-quarter 2023 results on February 21, post-market. The Zacks Consensus Estimate foresees a loss of 28 cents per share and revenues of $166.76 million for the quarter under review. It’s worth noting that the consensus estimate for Lucid’s Q4 loss per share has tightened by 1 cent in the past 30 days.
The Q4 bottom-line estimates imply a 30% growth from the year-ago reported figure. Meanwhile, the Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year decline of 35.3%.
Lucid has been reporting losses in the trailing four quarters, the average negative surprise being 7.70%. The company’s performance seems to be on a downslide, a concerning trend as elaborated in the graph below:
Lucid Group, Inc. Price and EPS Surprise
Lucid Group, Inc. price-eps-surprise | Lucid Group, Inc. Quote
We reached out to various analysts, and the consensus seems to be that the upcoming earnings report holds a significant amount of uncertainty for investors. Lucid doesn’t seem to have a strong case for an earnings beat this time, as indicated by the Earnings ESP, and carries a Zacks Rank #3.
Key Developments in Q4
In anticipation of their fourth-quarter earnings release, Lucid has made some noteworthy introductions. The creation of the Lucid Air Pure RWD and the groundbreaking Lucid Gravity luxury electric SUV have positioned the company as a key player in the EV space. These developments promise an exciting future for the brand, underscored by innovation, style, and technology.
Despite these developments, Lucid’s journey has not been bereft of speed bumps. The company has faced an uphill battle with rising expenses, particularly in research and development as well as selling, general, and administrative expenses. These may potentially impact its margin in the to-be-reported quarter.
Broader Auto Industry
The earnings season for automotive companies is in full swing. Industry peers such as Rivian Automotive, Inc., Nikola Corporation, and Fisker Inc. also have their earnings announcements around the same time. As a result, the insights from Lucid Group’s earnings report can throw light on the general industry trends amid the ongoing EV revolution.}
