"In Q2 FY 2024, deliveries increased by 70.5% year-over-year, contributing to a significant revenue beat of 32.9%. Investors are concerned about maintaining production and channel absorption."
"Excluding a one-time warranty provision, Q3 gross margin would have seen an approximately 11 percentage points sequential expansion. Insights on Lucid Gravity's build-up and BOM costs will be crucial."
"The consensus forecast for full-year sales stands at $1.33 billion, a 68% year-over-year increase, with an expected EPS of -$0.89. Any adjustments regarding Gravity ramp timing may lead to re-ratings."
"Lucid's management confirmed a production target of 9,000 units in 2025. Investors are anticipated to scrutinize the Q2 build against delivery cadence and any updates on the factory ramp schedule."
Deliveries in Q2 FY 2024 surged by 70.5% year-over-year, leading to a robust 32.9% revenue exceedance. Investors are evaluating if production growth and channel absorption will align with these delivery gains. Excluding a one-time warranty provision, the Q3 gross margin would have expanded around 11 percentage points sequentially. Commentary on the Lucid Gravity build-up and BOM costs is anticipated to be essential for future performance. The full-year sales estimate is projected at $1.33 billion, reflecting a 68% Y/Y increase, with an expected EPS loss of -$0.89 as market reactions hinge on Gravity ramp timing.
Read at 24/7 Wall St.
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