Lucid Reports Earnings Today. What to Expect.

Electric vehicle start-up Lucid reports third-quarter numbers on Tuesday evening amid a rough patch for the company and the industry. Investors will want to see signs that demand for Lucid’s high-end EVs is turning around.

A loss isn’t surprising. Investors want to see improvement. The company is expected to have used about $890 million in cash building its business in the third quarter, down from $900 million used in the second quarter of 2023. Wall Street projects cash use of about $900 million to $1.1 billion for each of the next few quarters.Lucid produced 1,550 units in the third quarter and made about 6,000 in the first nine months of 2023.

Spear Invest founder Ivana Delevska tells Barron’s that part of Lucid’s issue is its product lineup. Lucid sells higher-end vehicles that can cost more than $100,000. When Tesla started selling its high-price Model S in 2012, it was essentially the only EV seller of significance. Now the market segment is crowded with many high-end sedans from auto makers including Tesla, Mercedes-Benz , BMW , and others.

Part of the decline is related to weak production. Investors have been worried about slowing EV demand after weak earnings reported by Tesla on Oct. 18. That report was followed by Ford Motor and General Motors slowing EV-related spending and weak fourth-quarter sales guidance from EV supplier ON Semiconductor .

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rivian Reports Earnings Today. What to Expect.Wall Street is looking for a per-share loss of $1.31 from sales of $1.3 billion, according to Bloomberg. Rivian reported a $1.08 loss from sales of $1.1...
Source: MarketWatch - 🏆 3. / 97 Read more »

Disney earnings: What to expect when the Magic Kingdom reportsJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
Source: MarketWatch - 🏆 3. / 97 Read more »

Earnings playbook: How to trade the biggest reports this week, including DisneyMore than 45 S&P 500 names are slated to report this week, including Disney, Biogen and D.R. Horton.
Source: CNBC - 🏆 12. / 72 Read more »