Electric vehicle company Lucid Group Inc (NASDAQ:LCID) is likely to highlight its growing vehicle lineup and delivery goals when the company reports second-quarter financial results after market close Tuesday.
Here are the earnings estimates from analysts and key items to watch.
Earnings Estimates: Analysts expect Lucid Group to report second-quarter revenue of $296.2 million, up from $200.6 million in last year’s second quarter, according to data from Benzinga Pro.
The company missed revenue estimates in the first quarter, but has beaten estimates in four of the last five quarters.
The revenue estimate would see Lucid’s highest quarterly total, surpassing the fourth-quarter 2023 total of $257.7 million. If Lucid hits the estimate, it would also mark four straight quarters of quarter-over-quarter revenue growth.
Analysts expect the company to report a loss of 21 cents per share, down from a loss of 29 cents per share in last year’s second quarter. The company has beaten analyst estimates for earnings per share in three straight quarters and five of the last 10 quarters overall.
Read Also: Lucid Just Drove 749 Miles Without Charging And Set A World Record
Key Items to Watch: Lucid has already reported second quarter production and delivery figures ahead of the quarterly results. The company produced 3,863 vehicles in the second quarter, up from 2,212 vehicles produced in the first quarter.
Lucid delivered 3,309 vehicles in the second quarter, which was below analyst estimates of 3,611, but came in above the 3,109 deliveries in the first quarter.
Lucid has highlighted a goal of a total production of 20,000 vehicles in 2025.
Analysts and investors will closely watch to see if Lucid stands behind its production and delivery goals for the year or updates its guidance.
Ahead of the financial results, Lucid’s shares traded higher after the company announced a strategic partnership with Uber Technologies (NYSE:UBER) and self-driving company Nuro. The partnership will result in a robotaxi service built using the Lucid Gravity SUV, launching in a major U.S. city next year, with additional global markets to follow in the coming years.
The partnership sees plans to scale to 20,000 Lucid vehicles and for Uber to make a multi-hundred-million-dollar investment in Lucid.
Investors and analysts will be hoping to hear more details on this partnership, what the investment from Uber could mean, and the timing of it. Investors and analysts will also want more color on these 20,000 vehicles, including when they will be produced and how they factor into guidance.
Lucid has the Air and Gravity vehicles available with more versions of the Gravity coming later this year. Investors and analysts would love to hear more about vehicles planned for 2026, which could include the mid-size lower-cost SUV that has been reportedly called Earth.
LCID Price Action: Lucid stock is flat at $2.42 on Monday versus a 52-week trading range of $1.93 to $4.43. Lucid stock is down 20.1% year-to-date, with shares up 15% in the last month.
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