Polestar Q1 Earnings Preview: Analyst Says Chinese EV Manufacturing Equals 'Better Gross Margins'
Portfolio Pulse from Chris Katje
Polestar Automotive Holding (NASDAQ:PSNY) is set to report its unaudited Q1 financial results and Q2 global volumes on July 2. Analysts expect Q1 revenue of $737.57 million and a loss of 12 cents per share. The company has missed revenue estimates for three consecutive quarters but has beaten EPS estimates in three of the last four quarters. Polestar's FY 2023 revenue was $2.38 billion, down 3% YoY, with deliveries of 54,626 vehicles. Analysts highlight the company's cash balance of $769 million and its goal to raise $1.3 billion in external funding in 2024. Polestar's stock is up 21.76% to 96 cents but down 76% over the last year.
July 01, 2024 | 6:51 pm
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Polestar is set to report Q1 financial results and Q2 global volumes on July 2. Analysts expect Q1 revenue of $737.57 million and a loss of 12 cents per share. The company has missed revenue estimates for three consecutive quarters but has beaten EPS estimates in three of the last four quarters. FY 2023 revenue was $2.38 billion, down 3% YoY, with deliveries of 54,626 vehicles. Analysts highlight the company's cash balance of $769 million and its goal to raise $1.3 billion in external funding in 2024.
The upcoming earnings report and Q2 global volumes are critical for Polestar's short-term stock performance. While the company has a history of missing revenue estimates, it has often beaten EPS estimates. The stock's recent price increase suggests some positive sentiment, but the overall decline over the past year indicates investor caution. The company's cash balance and funding goals are also key factors to watch.
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