Lucid Announces Q1 Production & Deliveries, Sets Date for First Quarter 2024 Results
- None.
- None.
Insights
The reported production and delivery figures from Lucid Group provide a snapshot of the company's operational performance. With 1,728 vehicles produced and 1,967 vehicles delivered, there's an indication of a positive delivery-to-production ratio, which suggests that Lucid is effectively managing its inventory and meeting customer demand. This is a vital metric for investors as it can impact revenue recognition and cash flow.
However, the production numbers also need to be evaluated against the company's capacity and market expectations. If production is lagging behind capacity or not ramping up as expected, this may raise concerns about operational efficiency or supply chain issues. Conversely, if production is on track or exceeding expectations, it could signal strong operational management and potential for growth.
Lucid's engagement strategy with shareholders, including the partnership with Say Technologies, is noteworthy. This approach could enhance investor relations and transparency, potentially leading to a more informed and engaged shareholder base. For a company in the competitive electric vehicle market, maintaining investor confidence is key, especially when facing industry giants like Tesla.
Investor sentiment can often influence a company's stock performance and such proactive communication initiatives might be well-received by the market. However, the actual impact on the stock will depend on the content and outcome of the earnings call, as well as the company's ability to meet or exceed market expectations.
The timing and context of Lucid's earnings call are important for understanding the company's financial health. The call will provide investors with a deeper analysis of the financial results, including revenue, profit margins and cash burn rates. These details are essential for assessing the company's sustainability and growth trajectory.
Given that Lucid operates in the high-growth but capital-intensive electric vehicle industry, its burn rate and pathway to profitability are of particular interest. Investors will also be keen on updates regarding future models, expansion plans and any strategic partnerships that could influence long-term value creation.
Lucid will host a conference call to discuss its first quarter 2024 financial results on Monday, May 6, 2024, at 2:30 pm PT / 5:30 pm ET. Prior to the conference call, the company will issue an earnings press release with a link to the live webcast on its investor relations website, https://ir.lucidmotors.com.
To enhance engagement with the company's shareholder base and facilitate connections with its investors, Lucid is partnering with Say Technologies to allow retail and institutional shareholders to submit and upvote questions, a selection of which will be answered by Lucid management during the earnings call.
Starting on April 22, 2024, at 2:30 pm PT / 5:30 pm ET, shareholders can submit questions by visiting: https://app.saytechnologies.com/lucid-group-2024-q1/. This Q&A platform will remain open until 2:30 pm PT / 5:30 pm ET on May 3, 2024. Shareholders can email support@saytechnologies.com for any support inquiries.
Earnings Call Details:
Date: Monday, May 6, 2024
Time: 2:30 pm PT / 5:30 pm ET
Webcast: https://ir.lucidmotors.com (live and replay)
1 Based on percentage of major industry awards and accolades earned by new luxury vehicles launched in the last three years and on sale in
About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company's first car, the Air, is a state-of-the-art luxury sedan with a
Investor Relations Contact
investor@lucidmotors.com
Sign up for investor email alerts: https://ir.lucidmotors.com/ir-resources/email-alerts
Media Contact
media@lucidmotors.com
Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.
*Lucid's net income and cash flow results will be announced along with the rest of its financial performance when Lucid announces first quarter earnings. Lucid vehicle production and delivery numbers represent only one measure of the company's operating performance and should not be relied on as sole indicators of quarterly financial results, which depend on a variety of factors.
Forward-Looking Statements
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid's expectations related to production and delivery volume outlook and Lucid's finalized production and delivery totals for the quarter ended March 31, 2024. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part I, Item 1A of Lucid's Annual Report on Form 10-K for the year ended December 31, 2023, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lucid-announces-q1-production--deliveries-sets-date-for-first-quarter-2024-results-302111476.html
SOURCE Lucid Group
FAQ
How many vehicles did Lucid Group, Inc. produce in the quarter ended March 31, 2024?
How many vehicles did Lucid Group, Inc. deliver in the quarter ended March 31, 2024?
When will Lucid Group, Inc. host a conference call to discuss its first quarter 2024 financial results?
Who is Lucid Group, Inc. partnering with to engage with its shareholders?
How can shareholders submit questions for the earnings call?
Until when can shareholders submit questions for the earnings call?
