Lucid Q2 Earnings: Revenue, EPS Miss Estimates, EV Maker Lowers 2025 Production Target

Benzinga

Lucid Group reported second-quarter revenue of $259.4 million and an adjusted loss of 24 cents per share, missing Wall Street estimates on both metrics. According to Benzinga, the EV maker produced 3,863 vehicles and delivered 3,309 in the second quarter, with year-to-date deliveries exceeding production. Lucid now forecasts 2025 production in the range of 18,000 to 20,000 vehicles, down from its previous estimate of 20,000. Interim CEO Marc Winterhoff highlighted a sixth consecutive quarter of record deliveries and noted continued momentum as Lucid prepares to ramp up Gravity SUV output. The company ended the quarter with $4.86 billion in liquidity. Shares dropped 6.78% after hours.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Lucid Group reported second quarter revenue of $259.4 million and adjusted loss of $0.24

00:08per share, missing Wall Street estimates on both metrics. According to Benzinga,

00:12the EV maker produced 3,863 vehicles and delivered 3,309 in the second quarter,

00:18with year-to-date deliveries exceeding production. Lucid now forecasts 2025 production in the range

00:22of 18,000 to 20,000 vehicles, down from its previous estimate of 20,000. Interim CEO Mark

00:28Winterhoff highlighted a six-consecutive quarter of record deliveries, known to continue momentum

00:33as this prepares to ramp up gravity SUV output. The company ended the quarter with $4.86 billion

00:38in liquidity. Shares dropped 6.78% after hours. For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended