Lordstown Motors (RIDE) Tops Q4 EPS by 31c

Lordstown Motors (NASDAQ: RIDE) reported Q4 EPS of ($0.42), $0.31 better than the analyst estimate of ($0.73). Revenue for the quarter came in at $0 , versus $0 reported last year.

Outlook:

• Reaffirm third quarter 2022 target for commercial production and sales of the Endurance
• Expect commercial production and sales of the Endurance of approximately 500 units in 2022 growing to as many as 2,500 units in 2023
• Anticipate investments in hard tooling and other actions to drive significant reduction in the Endurance bill of materials into 2023 and beyond
• Working toward finalizing the Foxconn transaction, including the contract manufacturing agreement, and seeking an agreement and funding structure to develop new vehicles in collaboration with Foxconn based off the MIH platform
• Continue efforts to raise additional capital to fund commercial launch of the Endurance and operating plan

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

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