Here is the revised report
Intellectia.AI Updated: 2024-08-08
Here is the revised report:
Lucid Group, Inc. Reports Q2 2024 Financial Results
Lucid Group, Inc. (LCID) reported its financial results for the quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | Consensus Estimates |
|---|---|---|---|---|---|
| Total Revenue | $200.7M | $0.0M | $151.0M | +33% | $192.06M |
| Earnings per Share (EPS) | $-0.33 | $0.0 | $-0.27 | -22.22% | $-0.26 |
Lucid's Q2 2024 total revenue was $200.7 million, a 33% increase year-over-year from $151.0 million in Q2 2023. The company's EPS was -$0.33, wider than the consensus estimate of -$0.26 and a decline from -$0.27 in the prior year despite the revenue increase, indicating continuing operational costs and investments impacting net income.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue |
|---|---|
| Vehicle Sales | $200.7M |
Lucid’s revenue was predominantly driven by vehicle sales amounting to $200.7 million in Q2 2024.
Stock Price Movement Post Earnings Release
Following the earnings release, Lucid's stock saw a decrease of approximately 3.85%.
Note: The summary above does not include sections where specific details were not provided in the earnings release content supplied.
