Lucid Motors (LCID) gears to make its first earnings report since it started Lucid Air electric-car deliveries in late October.

X

The white-hot EV stock and emerging Tesla (TSLA) rival may offer an update on Lucid Air deliveries. It may also update investors on production and delivery targets, with new competitor Rivian Automotive (RIVN) on its heels.

Lucid Earnings

Estimates: Late Monday, Wall Street expects Lucid Motors to lose 25 cents a share on nominal revenue, according to FactSet. No year-ago estimates are available.

Lucid stock debuted in late July after a reverse merger with a blank-check company. Four analysts cover the new EV stock, FactSet says.

Lucid Air deliveries began on October 30, so that won’t show up in the September-ended quarter.

Results: Check back later for Lucid earnings.


IBD Live: A New Tool For Daily Stock Market Analysis


Lucid Stock, EV Stocks

Shares of Lucid Motors lost 2.3% to 43.93 on the stock market today, after setting a fresh intraday high Tuesday. Lucid stock is far extended from a 28.49 buy point off a cup-with-handle base, according to MarketSmith chart analysis. That means shares are not in buy range.

In late October, Lucid stock broke out after the EV startup began the first customer deliveries of the luxury Lucid Air Dream sedan, which beats Tesla (TSLA) in driving range.

Among other new EV stocks, Rivian Automotive (RIVN) climbed 5.7% on Friday. Rivian stock soared 67% in the three days since its IPO. Tesla fell 2.8% on Friday and 15% for the week.

Saudi Arabia-backed Lucid plans to deliver 520 Lucid Air Dream sedans, costing $169,000. Cheaper versions will follow.

In 2022, Lucid Motors expects to produce 20,000 Lucid Air sedans, generating more than $2.2 billion in revenue.

In the past month, Lucid Motors went on a tear after starting deliveries. The Lucid Air, its first electric vehicle, is built with proprietary technology.

Deliveries mark a milestone moment for a startup. Many EV startups fail to live up to initial hype.

Startup peer Rivian Automotive also began selling its first EV, the R1T electric truck, ahead of the blockbuster Rivian IPO.

In September, the Lucid Air Dream was officially confirmed as the longest-range electric car ever. It delivers 520 miles on a single charge.

Longer electric driving range is key to the adoption of electric cars.

Find Aparna Narayanan on Twitter at @IBD_Aparna.

YOU MAY ALSO LIKE:

Why This IBD Tool Simplifies The Search For Top Stocks

Stocks To Watch: Top-Rated IPOs, Big Caps And Growth Stocks

Find The Latest Stocks Hitting Buy Zones With MarketSmith

Looking For The Next Big Stock Market Winners? Start With These 3 Steps

Stock Market Rally Resilient; 5 Leaders In Focus

Source: Lucid Earnings On Tap With Lucid Air EV Deliveries In Focus

Lucid Earnings On Tap With Lucid Air EV Deliveries In Focus - Click To Share

Share on facebook
Share on twitter
Share on reddit
Share on linkedin
Share on email
Share on whatsapp

Other recent press releases

*This is a free press release. All upgraded press releases are ad-free!

Why The Dallas Cowboys Should Aim To Acquire Veteran Receiver

The Dallas Cowboys appear to be lacking depth at wide receiver entering the 2022 season. (Photo by … [+] Tom Pennington/Getty Images) Getty Images The Dallas Cowboys will enter the start of the 2022 regular season with one proven wide receiver on its roster. As the Cowboys look to carry the momentum they established during…

Pennsylvania’s Fetterman Released From Hospital After Stroke

LANCASTER, Pa.—Pennsylvania Lt. Gov. John Fetterman, the Democratic nominee in the state’s high-profile U.S. Senate contest, has been released from the hospital after a stay of more than a week following a stroke, his wife and his campaign said Sunday. Fetterman, 52, won the Democratic nomination while in the hospital, easily beating U.S. Rep. Conor…