Lucid Group, Inc. (NASDAQ: LCID ) makes an excellent vehicle. Its top-end model, the Air Sapphire edition, packs over 1,200 horsepower , over 500 miles of range, and can jet from zero to sixty in about 1.9 seconds. Incredible!Are You Getting The Returns You Want? Invest alongside the Financial Prophet's All-Weather Portfolio (2023 47% return) and achieve optimal results in any market.The Daily Prophet Report provides crucial information before the opening bell rings each morning.Implement my Covered Call Di ...

Lucid Group, Inc. (NASDAQ: LCID ) submitted its third-quarter earnings sheet last Thursday, and the electric vehicle (“EV”) company beat bottom and top-line expectations. The EV maker saw a decent Q3 ’24 ramp in terms of deliveries as well, but Lucid did notAnalyst’s Disclosure: I/we have a beneficial long position in the shares of TSLA, RIVN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (o ...

Shares in this EV maker are dirt cheap. Is it time to buy?When looking for a stock with millionaire-maker potential, I typically gravitate toward companies with small valuations, rapid growth, and a pathway to profitability. With shares down by a whopping 97% from their all-time high of $58 (reached in early 2021), Lucid Group (LCID -0.45%) meets at least one of these criteria. But what about the others? Let's dig deeper into the pros and cons of this embattled electric automaker. What happened to Lucid's o ...

Lucid Group Inc. LCID is betting big on its upcoming Gravity SUV to capture a broader slice of the electric vehicle (EV) market, but it's a cautious play for investors. Needham's Chris Pierce reaffirmed a Hold rating on LCID stock, highlighting promising delivery gains while flagging concerns over long-term profitability and further dilution risks.Chart created using Benzinga ProLucid’s Rising Deliveries, Falling MarginsLucid's latest earnings report spotlighted a third consecutive quarter of record deliver ...

Lucid's losses keep getting bigger, and it continues to sell shares to raise money.October turned out to be the worst month of 2024 so far for Lucid Group (LCID -2.03%), with the electric vehicle (EV) stock crashing 37.4%, according to data provided by S&P Global Market Intelligence.Investors got a shock when Lucid announced plans to sell shares to raise money, even as its production and delivery numbers continued to disappoint. With Lucid just reporting a significantly large loss for the third quarter, the ...

Tesla may not be the cheapest EV stock, but at least it's earning a profit.Friday is looking like it's going to be a busy day for investors in electric vehicles, with Rivian Automotive (RIVN 0.70%) and Lucid Group (LCID -0.91%) both having reported earnings last night, and Tesla (TSLA 6.76%) stock reacting to the news from its rivals.Earlier today, Lucid stock was up 6%, though around noon ET it was negative on the day. Similarly, Rivian was up 4.8% earlier but had dipped down to a 0.80% gain. Surprisingly, ...

After the bell on Thursday, we received third quarter results from Lucid Group, Inc. (NASDAQ: LCID ). The luxury electric vehicle maker has been one of the most disappointing names in the market since going publicI am a market enthusiast and part-time trader. I started writing for Seeking Alpha in 2011, and it has been a tremendous opportunity and learning experience. I have been interested in the markets since elementary school, and hope to pursue a career in the investment management industry. I have been ...

Lucid Group, Inc. (NASDAQ:LCID) Q3 2024 Results Conference Call November 7, 2024 5:30 PM ET Company Participants Maynard Um - Senior Director of Investor Relations Peter Rawlinson - Chief Executive Officer and Chief Technology Officer Gagan Dhingra - Interim Chief Financial Officer and Principal Accounting Officer Conference Call Participants John Murphy - BofA Securities Andres Sheppard - Cantor Fitzgerald Stephen Gengaro - Stifel Steven Fox - Fox Advisors Tobias Beith - Redburn Atlantic Operator Ladies an ...

Lucid Group (LCID) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.32. This compares to loss of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -28.13%. A quarter ago, it was expected that this an electric vehicle automaker would post a loss of $0.27 per share when it actually produced a loss of $0.29, delivering a surprise of -7.41%.Over the last four quarters, the c ...

Revenue and Growth - Revenue for the three months ended September 30, 2024, was $200.0 million, a 45% increase from $137.8 million in the same period last year, driven by higher deliveries of the Lucid Air vehicles [204][205]. - The company expects to launch the Lucid Gravity SUV in late 2024 and the Midsize platform in late 2026, leveraging advancements from the Lucid Air [193]. - The company anticipates significant risks and uncertainties related to the development and commercial launch of vehicles, manufacturing capacity increases, and international expansion [264]. Expenses and Costs - Cost of revenue decreased by $57.2 million or 12% for the three months ended September 30, 2024, primarily due to decreases in inventory write-downs and losses from firm purchase commitments [206][208]. - Research and development expenses for the three months ended September 30, 2024, were $324.4 million, a 41% increase from $230.8 million in the same period last year, reflecting ongoing investments in technology and product development [211][212]. - Selling, general, and administrative expense increased by $43.9 million, or 23%, for the three months ended September 30, 2024, compared to the same period in the prior year [216]. - The company is experiencing increased inflation affecting vehicle manufacturing costs, influenced by key components, labor, and equipment costs [296]. - Ongoing construction of AMP-1 and AMP-2 facilities may lead to higher capital expenditures due to rising material and labor costs [296]. Financial Position and Liquidity - The company had approximately $4.0 billion of cash, cash equivalents, and investments as of September 30, 2024 [236]. - The company expects adequate liquidity for at least the next 12 months to fund ongoing operations and research and development projects [237]. - The company reported an accumulated deficit of $12.5 billion, up from $10.2 billion as of December 31, 2023 [263]. - Cash used in operating activities decreased by $528.7 million to $1,486.5 million during the nine months ended September 30, 2024, compared to the same period in the prior year [268]. - Net cash provided by investing activities was $290.0 million during the nine months ended September 30, 2024, a significant improvement from $1,599.1 million used in the same period in the prior year [270]. - Net cash provided by financing activities decreased by $1,324.2 million to $1,718.7 million during the nine months ended September 30, 2024, compared to the same period in the prior year [272]. Inventory and Receivables - The company recorded inventory write-downs of $154.9 million for the three months ended September 30, 2024, compared to $230.8 million in the same period last year, indicating improved inventory management [209]. - The company experienced a decrease in inventory of $354.5 million due to lower purchases of raw materials and improved inventory management [268]. - Accounts receivable increased to $98.2 million as of September 30, 2024, compared to $51.8 million as of December 31, 2023, primarily due to higher vehicle sales [268]. Financing Activities - The company completed a public offering on October 18, 2024, raising approximately $719.0 million from the sale of 262.4 million shares [194]. - A private placement with Ayar Third Investment Company raised approximately $1,026.5 million, reflecting strong support from the controlling stockholder [195]. - The company issued $2,012.5 million of 2026 Notes with a 1.25% annual interest rate, maturing on December 15, 2026 [240]. - The ABL Credit Facility provides for an initial aggregate principal commitment amount of up to $1.0 billion, with a stated maturity date of June 9, 2027 [253]. - As of September 30, 2024, the company had outstanding borrowings of SAR 175 million (approximately $46.6 million) under the GIB Credit Facility [252]. Economic and Market Conditions - The company acknowledges potential adverse impacts from economic downturns, which may affect consumer demand for luxury electric vehicles [197]. - The company anticipates that inflationary pressures may lead to increased manufacturing costs, impacting future capital expenditures [203]. - A hypothetical 100 basis point increase in interest rates would result in a $13.6 million incremental decline in the fair market value of the company's investment portfolio [294]. - A hypothetical 10% decrease in the stock price of equity securities would decrease their fair value by $4.6 million [295]. Manufacturing and Expansion - As of September 30, 2024, the company has opened 55 studios and service centers globally, with plans for further expansion to enhance customer experience [200]. - The company selected King Abdullah Economic City in Saudi Arabia for its first international manufacturing plant, initially focusing on re-assembly of vehicle kits [241]. - Lucid LLC entered into a loan agreement with the Saudi Industrial Development Fund for up to SAR 5.19 billion (approximately $1.4 billion) to finance development and construction of AMP-2 [242]. - The company received SAR 366 million (approximately $97.5 million) in cash support from the Ministry of Investment of Saudi Arabia during the year ended December 31, 2023 [248]. Other Financial Metrics - Interest income decreased by $16.0 million, or 24%, for the three months ended September 30, 2024, compared to the same period in the prior year [229]. - Interest expense increased by $5.1 million, or 154%, for the three months ended September 30, 2024, compared to the same period in the prior year [232]. - The change in fair value of common stock warrant liability resulted in a loss of $13.7 million for the three months ended September 30, 2024 [223]. - The derivative liabilities of the Series A and Series B Redeemable Convertible Preferred Stock were remeasured to a fair value of $932.0 million as of September 30, 2024 [228]. - The company recorded unrealized losses of $8.8 million for the change in fair value of equity securities of a related party for the three months ended September 30, 2024 [224]. - The fair value of equity securities held by the company was $45.7 million as of September 30, 2024 [295].