Fisker (FSR) Misses Q1 EPS by 8c, Misses on Revenue; Guides Q2 Production of 1,400-1,700 EVs
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Go back to Fisker (FSR) Misses Q1 EPS by 8c, Misses on Revenue; Guides Q2 Production of 1,400-1,700 EVs
May 11, 2023 10:00 AM EDT
Swedish electric automaker, Polestar Automotive (NASDAQ: PSNY) on Thursday lowered its 2023 production guidance and announced that the company would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry.
The electric vehicle company now expects to produce between 60,000 and 70,000 cars this year, versus... More
May 9, 2023 1:44 PM EDT
U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.
Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More
May 9, 2023 9:11 AM EDT
Fisker Inc. (NYSE: FSR) announced Tuesday that the electric automaker has lowered its production target as the U.S. EV startup continues to struggle to ramp up output in the face of supply chain constraints, easing demand and a tight cash position.
The... More
May 9, 2023 8:11 AM EDT
Barclays released a March EV report card as EV penetration reached 14%, up m/m and y/y, but still below elevated 4Q22. Analyst Dan Levy believes April is poised to be a slight step back in uptake, in-line with typical 1st month-of-quarter patterns. Tesla (NASDAQ: TSLA), however, had an impressive March share, benefiting from price cuts and an increased focus on low cost EVs exported from China.
China once again had the highest EV penetration rate among the major global regions (30% in March), yet was flat m/m.... More
