Yahoo Movies Lucid (LCID) to Report Q2 Earnings: Here's What to Expect
Lucid Group LCID is scheduled to release second-quarter 2023 results on Aug 7, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share and revenues is pegged at a loss of 35 cents per share and $201.94 million, respectively. The consensus mark for Lucid’s second-quarter loss per share narrowed by 3 cents in the past 30 days.
Lucid’s bottom-line estimates imply a decline of 6.06% from the year-ago reported figure. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year increase of 107.45%.
In the last reported quarter, it posted a net loss of 43 cents per share, wider than the Zacks Consensus Estimate of 39 cents per share. The loss per share was also wider than the year-ago loss of 5 cents. Over the trailing four quarters, Lucid has surpassed earnings estimates on one out of four occasions and missed in the rest, the average negative surprise being 2.26%. This is depicted in the graph below:
Lucid Group, Inc. Price and EPS Surprise
Lucid Group, Inc. price-eps-surprise | Lucid Group, Inc. Quote
Let’s take a look at how things have shaped ahead of its second-quarter earnings release.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Lucid. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as elaborated below.
Earnings ESP: Lucid has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate of loss is pegged at par with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: LCID currently carries a Zacks Rank #2.
Factors to Note
Lucid reported revenues of approximately $149 million in the first quarter of 2023, which represented a year-over-year increase of 159%. In April 2023, the EV maker started delivering Lucid Air with Stealth Appearance, which is available as an option for Air Grand Touring and Air Touring. The new Stealth Appearance has redefined the nature of Lucid Air, with changes of up to 35 components on the exterior of the vehicle. The launch of a new car is likely to have aided revenue growth in the quarter under review.
Discouragingly, in the second quarter, Lucid produced 2,173 vehicles, down from 2,314 vehicles in the first quarter. The company delivered 1,404 vehicles in the second quarter, down from 1,406 in the first quarter. The decline in deliveries is likely to have deteriorated Lucid’s performance in the to-be-reported quarter.
Earnings Whispers for Peers
Rivian RIVN is scheduled to report second-quarter earnings on Aug 8. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share is pegged at a loss of $1.41 per share. The company has an Earnings ESP of +0.75% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
RIVN surpassed earnings estimates in three out of the trailing four quarters and missed once, the average surprise being 6.08%.
Nikola NKLA is scheduled to report second-quarter earnings on Aug 3. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share is pegged at a loss of 24 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #2.
NKLA surpassed earnings estimates in all of the trailing four quarters, the average surprise being 15.58%.
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