Lucid Announces Q2 Production & Deliveries, Sets Date for Second Quarter 2024 Results
Lucid Group (NASDAQ: LCID) announced its Q2 2024 production and delivery figures. The company produced 2,110 vehicles and delivered 2,394 during the quarter ending June 30, 2024.
Lucid will discuss its Q2 2024 financial results in a conference call on August 5, 2024, at 2:30 pm PT / 5:30 pm ET. An earnings press release and webcast link will be available on the company's investor relations website prior to the call.
To enhance shareholder engagement, Lucid is partnering with Say Technologies, allowing shareholders to submit and upvote questions from July 22 to August 2, 2024. Selected questions will be addressed during the earnings call.
The Q&A platform can be accessed via Say Technologies' portal, and support inquiries can be directed to support@saytechnologies.com.
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- Produced 2,110 vehicles but delivered 2,394, indicating potential inventory or supply chain issues.
Insights
The recent production and delivery numbers from Lucid (NASDAQ: LCID) provide insightful data for evaluating the company's trajectory. Lucid produced 2,110 vehicles and delivered 2,394 vehicles in Q2 2024, a slight mismatch often seen in industries where delivery pipelines may not perfectly align with production schedules.
For a budding company in the highly competitive EV market, such production and delivery figures are crucial. Investors should note that delivery numbers exceeded production, which could imply strong demand or clearing of previous inventory. However, it's important to wait for the complete financial results, including net income and cash flow, to get a comprehensive view of the company's health. Production numbers alone don't provide the full picture, as the ultimate profitability depends on margins, operational efficiency and market dynamics.
Retail investors should watch for the external factors influencing these numbers, such as supply chain constraints or strategic shifts in sales tactics. Given the competitive pressures from established automakers venturing into EVs, Lucid's ability to scale production while maintaining quality is pivotal.
Lucid's Q2 2024 production and delivery announcement places the company amidst intriguing market dynamics. With 2,110 vehicles produced and 2,394 delivered, Lucid shows its capacity to meet demand, albeit with a gap that suggests logistical efficiencies or inventory management strategies.
The collaboration with Say Technologies for the Q&A session indicates a move towards increased transparency and investor engagement. This measure can enhance investor confidence by providing a platform for direct communication. From a market perspective, it's worth observing how such initiatives could impact investor sentiment and, consequently, stock performance.
Investors should be aware of the broader EV market trends where new entrants and traditional auto manufacturers are dynamically shifting positions. Lucid's performance needs to be contextualized within these competitive pressures, especially regarding innovations, market share and brand positioning.
Lucid will host a conference call to discuss its second quarter 2024 financial results on Monday, August 5, 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 July 22, 2024, at 2:30 pm PT / 5:30 pm ET, shareholders can submit questions by visiting: https://app.saytechnologies.com/lucid-group-2024-q2. This Q&A platform will remain open until 2:30 pm PT / 5:30 pm ET on August 2, 2024. Shareholders can email support@saytechnologies.com for any support inquiries.
Earnings Call Details:
Date: Monday, August 5, 2024
Time: 2:30 pm PT / 5:30 pm ET
Webcast: https://ir.lucidmotors.com (live and replay)
1 Lucid's net income and cash flow results will be announced along with the rest of its financial performance when Lucid announces second 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.
About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The flagship vehicle, Lucid Air, delivers best-in-class performance and efficiency starting at
*Excludes tax, title, license, options, destination, and documentation fees. For U.S. market only.
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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 June 30, 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 II, Item 1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, 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.
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SOURCE Lucid Group
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