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00:02Lucid reported mixed second quarter results after the market closed Tuesday,
00:07according to Benzinga Pro. The EV company posted an adjusted loss of 2.78 per share
00:13on revenue of $405.35 million missing analyst estimates for a loss of 2.49 per share and
00:20revenue of approximately $428 million. Revenue increased 56% year over year.
00:25CEO Silvio Napoli said the company is focused on cash,
00:28customers, and culture while advancing its $1.4 billion cash flow improvement plan
00:33and key vehicle programs. Lucid produced 4,174 vehicles and delivered 3,953 during the quarter.
00:41The company ended the quarter with approximately $3 billion in liquidity,
00:45which it expects will fund operations well into 2027.
00:49Shares were down 6.43% in after hours on Tuesday, trading at $7.28 at the time of publication,
00:56according to Benzinga Pro.
00:57For all things money, visit Benzinga.com.
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