Lucid Group reports Q1 2024 EPS of $-0.29579, missing consensus estimate, despite a 39.9% YoY increase in production and delivery.
Electric vehicle maker Lucid Group reported lower-than-expected earnings for Q1 2024, with earnings per share (EPS) at $-0.29579, missing the consensus estimate of $-0.25. The company produced 1,728 Lucid Airs and delivered 1,967, marking a 39.9% year-over-year increase, partly due to a $1B investment from Saudi Arabia's Public Investment Fund. As a result, Lucid plans to produce approximately 9,000 vehicles in 2024.
May 06, 2024
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