Streetbeat News

LCID

Lucid Group, Inc.

https://www.lucidmotors.com

Industry

Auto - Manufacturers

Lucid Group, Inc. a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc. was founded in 2007 and is headquartered in Newark, California.

Open

2.20

Mkt cap

5.8B

Volume

70M

High

2.28

P/E Ratio

-1.88

52-wk high

5.31

Low

2.17

Div yield

N/A

52-wk low

2.02

Lucid Group Inc (NASDAQ:LCID) reported its Q4 earnings with a revenue of $157.2 million, missing the consensus estimate of $179.88 million, but beating EPS estimates with a loss of 29 cents per share against an expected loss of 32 cents. The company produced 2,391 vehicles and delivered 1,734 in Q4, ending with $4.78 billion in liquidity. Lucid aims to produce approximately 9,000 vehicles in 2024 and confirmed the production schedule for its Gravity SUV and a midsize platform.

Portfolio Pulse from Adam Eckert

February 21, 2024 | 9:16 pm

Lucid Gr (NASDAQ:LCID) reported its Q4 earnings with an EPS of $-0.29, matching estimates. Revenue decreased by $100.56 million from the previous year. The company's past earnings performance shows a mixed trend with occasional beats and misses on EPS and revenue estimates.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 9:15 pm

Lucid Motors announced its Q4 vehicle delivery and production numbers, delivering 1,734 vehicles and producing 2,391. The company also provided its 2024 production guidance, aiming to produce approximately 9,000 vehicles.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:10 pm

Lucid Group reported Q4 2023 GAAP EPS of $(0.29), surpassing the $(0.32) estimate, but its sales of $157.20M fell short of the $179.88M estimate, marking a 39.00% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:09 pm

Wall Street is focused on Nvidia's upcoming Q4 earnings amid a tech selloff and concerns over Federal Reserve's future interest rate decisions. Tuesday's market downturn was influenced by mixed retail earnings, Nvidia earnings anxiety, and a decline in the leading economic index. Futures and specific stocks like Palo Alto Networks showed premarket declines, while the market anticipates Fed minutes and speeches for interest rate clues. Notable companies are scheduled for earnings reports, affecting stock movements.

Portfolio Pulse from Shanthi Rexaline

February 21, 2024 | 11:51 am

The article lists companies scheduled to report their earnings on February 21, 2024, including their expected earnings per share and revenue. It covers a wide range of industries and includes both companies expected to report profits and losses.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 10:09 am

Lucid Group Inc (NASDAQ:LCID) is set to report its Q4 financial results, with analysts expecting a significant revenue drop from the previous year and a loss per share nearly in line with last year's. Lucid has previously missed revenue estimates for six consecutive quarters but has beaten EPS estimates in two of the last five quarters. The company has already reported Q4 production and delivery figures, showing a decrease in full-year production guidance. Analysts have expressed concerns over Lucid's short-term outlook, citing a lack of new products to drive growth. A notable point of interest is the $6 million cash bonus for CEO Peter Rawlinson, which has drawn criticism from Tesla's Elon Musk. Investors are keen on updates regarding the Lucid Gravity SUV and revised vehicle production and delivery guidance for 2024.

Portfolio Pulse from Chris Katje

February 20, 2024 | 5:30 pm

Electric vehicle stocks had mixed performances in the week ending Feb. 16, with Tesla seeing a third week of gains and Rivian pulling back after a previous rally. Key events included Tesla's Model 3 LR price hike, Stellantis adopting Tesla's charging standard, a temporary relaxation of a strike against Tesla, Rivian teasing its R2 platform, Lucid's price cuts and CEO bonus controversy, and GM and Ford's openness to partnerships against Chinese rivals. Fisker announced dealer partnerships, and the KraneShares Electric Vehicles ETF saw a weekly gain.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 2:18 pm

Lucid Group, Inc. (NASDAQ:LCID) shares have risen over 5% in the past five days following the announcement of a price reduction for the Lucid Air Pure to $69,900, inclusion of two years of free scheduled maintenance, and a $1000 charging accessories allowance. Additionally, CEO Peter Rawlinson received a $6 million bonus for his contributions to the Lucid Gravity SUV. Tesla CEO Elon Musk commented on Rawlinson's bonus, and Lucid is expected to announce Q4 financial results with anticipated losses of 29 cents per share and revenue of $178.297 million.

Portfolio Pulse from Erica Kollmann

February 16, 2024 | 6:38 pm

Lucid Group Inc (NASDAQ:LCID) announced a $6 million cash bonus for CEO Peter Rawlinson, recognized for his contributions to the Lucid Gravity SUV unveiling. Elon Musk criticized the bonus on X, suggesting it's inversely proportional to performance. Lucid's stock has fallen 65.9% over the past year, despite a recent 5.2% increase.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 2:47 am

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