Nikola Q3 2024 Adj. EPS $(2.75) Misses $(2.35) Estimate, Sales $25.181M Miss $37.230M Estimate
Portfolio Pulse from Benzinga Newsdesk
Nikola reported a Q3 2024 adjusted EPS of $(2.75), missing the $(2.35) estimate, and sales of $25.181M, missing the $37.230M estimate. Despite the misses, sales increased by 1.55K% from the same period last year.
October 31, 2024 | 1:07 pm
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Nikola's Q3 2024 earnings report showed a significant miss on both EPS and sales estimates, with EPS at $(2.75) versus the expected $(2.35) and sales at $25.181M versus $37.230M. Despite the misses, sales increased significantly year-over-year.
The significant miss on both EPS and sales estimates is likely to negatively impact Nikola's stock price in the short term. However, the substantial year-over-year sales increase may provide some positive sentiment, but the immediate reaction is expected to be negative due to the missed expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100