Lucid Group (LCID) Tops Q2 EPS by 6c, Revenue Misses, Revices Production Outlook

Lucid Group (NASDAQ: LCID) reported Q2 EPS of ($0.33), $0.06 better than the analyst estimate of ($0.39). Revenue for the quarter came in at $97.3 million versus the consensus estimate of $145.49 million.

The Company reported strong customer demand for Lucid Air with reservations over 37,000 as of today, representing potential sales of approximately $3.5 billion. Lucid revised its 2022 production volume outlook to a range of 6,000 to 7,000 vehicles. Lucid ended the quarter with $4.6 billion cash, cash equivalents, and investments, which is expected to fund the Company well into 2023. In addition, Lucid reported first half production of 1,405 vehicles.

For earnings history and earnings-related data on Lucid Group (LCID) click here.

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