Fisker, Rivian, Lucid Earnings Previews: Guide To Busy Week For EV Investors
Portfolio Pulse from Chris Katje
Earnings season is here and brings quarterly updates and financial reports from leading publicly traded companies, including those in the electric vehicle sector. This week features a trio of earnings reports from three leading electric vehicle companies: Fisker Inc (NYSE:FSR), Lucid Group Inc (NASDAQ:LCID), and Rivian Automotive Inc (NASDAQ:RIVN). The reports came after electric vehicle leader Tesla Inc (NASDAQ:TSLA) reported third-quarter revenue and earnings per share that both came in below Street consensus estimates.
November 06, 2023 | 11:12 pm
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NEGATIVE IMPACT
Fisker is expected to report a loss of 18 cents per share and revenue of $109.03 million. The company has missed EPS estimates in three of the last five quarters and revenue estimates in the last two quarters. Fisker shares were down 4% after the company announced its CTO was leaving and lowered its 2023 production guidance.
Fisker's expected loss, missed estimates in previous quarters, and recent negative news (CTO departure and lowered production guidance) could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Lucid is expected to post a loss of 35 cents per share and revenue of $183.8 million. The company missed three of the last five quarters for earnings per share and all five of the last five quarters for revenue estimates. Lucid recently announced new discounts for the Lucid Air vehicle.
Lucid's expected loss, missed estimates in previous quarters, and new discounts for Lucid Air could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla reported third-quarter revenue and earnings per share that both came in below Street consensus estimates.
Tesla's lower-than-expected Q3 revenue and EPS could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Rivian is expected to post a loss of $1.32 per share for the third quarter. The company has beaten earnings per share estimates in six straight quarters. Analysts estimated the company will post revenue of $1.327 billion. The company has beaten revenue estimates in three of the last six quarters.
Rivian's expected loss is offset by its history of beating EPS estimates, which could result in a neutral impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100