Nikola Q1 2024 Adj EPS $(0.11) Misses $(0.10) Estimate, Sales $7.50M Miss $15.79M Estimate
Portfolio Pulse from Benzinga Newsdesk
Nikola (NASDAQ:NKLA) reported Q1 2024 adjusted EPS of $(0.11), missing the $(0.10) estimate, with sales of $7.50M also missing the $15.79M estimate. This represents a 32.56% decrease in sales compared to the same period last year.
May 07, 2024 | 11:11 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Nikola reported a Q1 2024 adjusted EPS of $(0.11), missing estimates by 10%, and sales of $7.50M, missing estimates by 52.53%, indicating a significant decrease in performance compared to the same period last year.
Nikola's significant miss on both earnings and sales estimates for Q1 2024, combined with a substantial year-over-year decrease in sales, is likely to negatively impact investor sentiment and the stock price in the short term. The magnitude of the miss, especially the 52.53% shortfall in sales against estimates, underscores challenges in the company's operations or market conditions that could worry investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100