Fisker (FSR) Misses Preliminary Q4 EPS by 100c, misses on revenue
Fisker (NYSE: FSR) reported preliminary Q4 EPS of ($1.23), worse than the analyst estimate of ($0.23). Preliminary revenue for the quarter was $200.1 million, versus the consensus estimate of $327.73 million.
2024 Business Outlook:
Fisker is targeting combined sales directly to consumers and dealers of approximately 20,000 – 22,000 vehicles in 2024. Average selling prices (ASPs) for 2024 are expected to be in the range of $56,000 - $62,000 after costs related to import duties and dealer commissions. The carrying value of completed vehicles in Fisker’s inventory and pre-paid raw materials at year-end was approximately $530 million. During the first half of 2024, the company expects to generate cash from the sale of existing 2023 production vehicles that are largely paid for, supporting monetization of its balance sheet. In addition, Fisker expects a higher than usual cash contribution from Oceans produced and subsequently sold in 1H 2024 as the company consumes raw materials that are on its balance sheet.
For earnings history and earnings-related data on Fisker (FSR) click here.