Fisker (FSR) Reports In-Line Q4 EPS

Fisker (NYSE: FSR) reported Q4 EPS of ($0.05), in-line with the analyst estimate of ($0.05).

• Fisker Ocean program in high gear and remains on-track for Q4 2022 start of production at Magna Steyr’s manufacturing facilities in Europe. Technology decisions enable greater range, acceleration, advanced driving assistance, and overall more content than initially planned.
• Key department heads and top talent from software, fintech, mobile comm’s, video gaming, and auto industries in place. Total of 148 full-time employees onboard.
• Reservations total more than 12,467 as of today. Retail daily reservation rate up 400% since mid-October 2020. More than 70% of reservation-holders currently drive internal combustion vehicles and more than 50% drive non-premium brands, indicating broad consumer appeal for our products.
• Announced an MOU with Hon Hai Technology Group (Foxconn) to jointly develop a breakthrough vehicle pioneering a new market segment to be sold globally under the Fisker brand commencing in Q4 2023.

2021 Business Outlook

The following information reflects Fisker’s expectations for key non-GAAP operating expenses and capital expenditures in full-year 2021. Spending is expected to be roughly equivalent by quarter. The ramp-up in spending in Q1 2021 versus prior periods is a reflection that the concept and sourcing work in the second half of 2020 was successful and the Ocean program development is now in high gear.

For earnings history and earnings-related data on Fisker (FSR) click here.

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