Nikola Q3 Earnings: Revenue Miss, EPS Miss, 88 FCEVs Delivered, Fleet Adoption Update And More
Portfolio Pulse from Adam Eckert
Nikola Corp reported Q3 earnings with a revenue miss at $25.18 million and an EPS miss with a loss of $2.75 per share. The company delivered 88 FCEVs, a 22% increase quarter-over-quarter, and saw a 78% increase in FCEV fleet adoption. Despite the misses, Nikola reiterated its guidance for FCEV volume and HYLA fueling solutions by year-end.
October 31, 2024 | 1:43 pm
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Nikola Corp reported a Q3 revenue miss at $25.18 million and an EPS miss with a loss of $2.75 per share. Despite these misses, the company delivered 88 FCEVs, a 22% increase quarter-over-quarter, and saw a 78% increase in FCEV fleet adoption. Nikola reiterated its guidance for FCEV volume and HYLA fueling solutions by year-end.
Nikola's Q3 earnings report showed a miss on both revenue and EPS, which is typically negative for stock prices. However, the company reported positive operational metrics, such as increased FCEV deliveries and fleet adoption, which may mitigate some negative sentiment. The reiteration of guidance suggests management confidence, but the immediate market reaction was negative, with shares down 2.6%.
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