NKLA Earnings

NKLA reported its FY2024Q3 earnings on 2024-10-31, showcasing a revenue of 25.00M against an estimate of 37.00M, resulting in a -31.3% surprise. The EPS was -2.92, surpassing the expected -2.35 by -24.26% . The stock experienced a -7.09% price change on the earnings day and a -26.24% change over the next five days, reflecting market reactions to the results.

Following NKLA's FY2024Q3 earnings announcement on 2024-10-31, the stock price moved by -7.09% on the day of the release. Over the subsequent five days, it saw a -26.24% change. Historically, NKLA's stock price tends to shift by an average of -0.65% in the 10 days leading up to earnings and -15.41% in the 10 days following, providing insight into potential market.

For 2024/Q4, analysts estimate NKLA’s annual revenue to reach 43.00M, while the EPS is projected at undefined. These estimates reflect recent revisions, with revenue estimates revised Revenue No Change by 0% and EPS estimates No Change by % over the past three months, indicating analyst expectation in the company’s performance.

The correlation between NKLA's stock price and earnings forecast revisions shows that positive revisions in revenue or EPS often strengthen the stock’s fundamentals. Over the past three months, revenue estimates for FY2024 were No Change by 0%, while EPS estimates moved No Change by % . This trend suggests that price dips could present buying opportunities for investors.

Based on historical trends, NKLA's stock price typically moves by -0.65% in the 10 days before its earnings and -15.41% in the 10 days after. For the upcoming 2024/Q4 earnings, analysts expect an EPS of undefined and revenue of 43.00M.

The earnings call reflects several negative factors: a gross loss increase, competitive pressures, regulatory and supply chain challenges, and a declining cash position. The Q&A reveals management's evasiveness on profitability specifics and capital needs. Despite a slight revenue increase, the financial health and guidance remain weak, with no new partnerships or positive catalysts mentioned. These factors suggest a negative stock price movement over the next two weeks.