Lordstown Motors (RIDE) Reports Q4 Loss of $0.23/share, Offers Guidance

Lordstown Motors (NASDAQ: RIDE) reported Q4 EPS of ($0.23), versus ($0.10) reported last year.

2021 Objectives and Financial Outlook:

As we highlight above, we have received greater interest for the Endurance than we anticipated when we announced our transaction in August 2020. We also see enormous leverage inherent in our Endurance chassis and innovative technologies, and as such believe that accelerating development of vehicle number two makes economic sense. Although COVID-19 is providing some supply chain issues, we are insourcing more tooling to minimize costs, have better control over the availability of componentry, and improve quality; we expect these investments to pay off down the road at production scale.

Given the aforementioned factors, we are providing the following financial outlook for 2021:

Expected capital expenditures of between $250 and $275 million.
Expected operating expenses of between $40 and $45 million in selling and administrative costs and between $180 and $190 million in research and development (R&D) costs.
Expected year-end 2021 liquidity of at least $200 million in cash and cash equivalents.
Our forecasted liquidity position does not include the receipt of any funds associated with our pursuit of an ATVM loan.

As we receive feedback from our initial customers, who we plan to deliver beta vehicles to in mid-2Q21, we anticipate an acceleration of purchase commitments, just as we start targeting and following up with municipal and government fleets for potential and significant engagement opportunities.

For earnings history and earnings-related data on Lordstown Motors (RIDE) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Movano (MOVE) Misses Q2 EPS by 195c
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c