News Brief: Lucid Group Q3 2024 Earnings
Summary
Lucid Group reported disappointing third-quarter results, missing Wall Street’s earnings and revenue expectations for a second consecutive quarter. The company is grappling with production challenges for its new Gravity SUV and has lowered its annual production forecast. However, it secured a significant financial boost by increasing a credit facility from its largest shareholder, Saudi Arabia’s Public Investment Fund.
Key Points
- Financial Performance: Adjusted loss per share was $2.65 vs. $2.27 expected. Revenue was $336.6 million vs. $379.1 million expected.
- Production Guidance: The high end of the annual production target was cut to ~18,000 vehicles from a previous range of 18,000-20,000.
- Capital Expenditures: The low end of the target was reduced by $100 million to a new range of $1 billion – $1.2 billion.
- Financial Lifeline: A term loan credit facility from Saudi Arabia’s PIF was increased from $750 million to approximately $2 billion.
- Gravity SUV Launch: The company faces “significant supply chain disruptions” impacting the Gravity production ramp-up, though it aims for a significant delivery increase in Q4.
- Liquidity & Runway: Total liquidity stands at $5.5 billion, providing a financial runway into the first half of 2027.
- Partnerships: Recent deals include a $300 million agreement with Uber for over 20,000 Gravity SUVs and an expanded partnership with Nvidia for autonomous tech.
- Stock Performance: Lucid’s stock is down over 40% in 2025, contrasting with rival Rivian’s positive performance.
新闻简报：Lucid集团2024年第三季度财报
总结
Lucid集团公布了令人失望的第三季度业绩，连续第二个季度未能达到华尔街的盈利和收入预期。该公司正努力应对其新款Gravity SUV的生产挑战，并下调了年度生产预测。不过，通过从其最大股东沙特阿拉伯公共投资基金获得信贷额度提升，该公司获得了重大的财务支持。
关键点
- 财务表现：调整后每股亏损2.65美元，预期为亏损2.27美元。收入为3.366亿美元，预期为3.791亿美元。
- 生产指引：年度生产目标的高端被下调至约18,000辆，此前预测范围为18,000至20,000辆。
- 资本支出：资本支出目标的低端下调了1亿美元，新范围为10亿至12亿美元。
- 财务支持：来自沙特阿拉伯公共投资基金的定期贷款信贷额度从7.5亿美元增加至约20亿美元。
- Gravity SUV发布：公司面临”严重的供应链中断”，影响了Gravity的产量提升，但目标是在第四季度实现交付量的大幅增长。
- 流动性及运营时间：总流动性为55亿美元，提供了持续到2027年上半年的财务运营时间。
- 合作伙伴关系：最近的交易包括与Uber达成的3亿美元协议，涉及超过20,000辆Gravity SUV，以及与英伟达在自动驾驶技术方面的扩展合作。
- 股票表现：Lucid股价在2025年下跌超过40%，与竞争对手Rivian的积极表现形成对比。
Original Article Link: https://www.cnbc.com/2025/11/05/lucid-lcid-earnings-q3-2025.html