Lucid Group Inc (NAS:LCID)
$ 2.13 -0.2 (-8.55%) Market Cap: 6.41 Bil Enterprise Value: 6.02 Bil PE Ratio: 0 PB Ratio: 1.86 GF Score: 48/100
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Q3 2024 Lucid Group Inc Earnings Call Transcript

Nov 7, 2024 / 10:30 PM GMT
Release Date Price: $2.22 (+4.23%)

Key Points

Positve
  • Lucid Group Inc (LCID) raised approximately $1.75 billion through a public offering, providing financial runway into 2026.
  • The company achieved record deliveries in Q3 2024, with 2,781 vehicles delivered, marking a 91% year-over-year increase.
  • Lucid Group Inc (LCID) has seen growing brand awareness, reaching an all-time high in the third quarter.
  • The company is on track to produce approximately 9,000 vehicles for the full year 2024.
  • Lucid Group Inc (LCID) earned the highest possible overall safety rating of five stars from the National Highway Traffic Safety Administration.
Negative
  • Average selling price was down sequentially, primarily due to product mix.
  • The company reported a GAAP net loss per share of $0.41 in Q3 2024.
  • Lucid Group Inc (LCID) faced a non-cash loss of approximately $240 million due to an increase in the fair value of derivative liabilities.
  • The company is not yet guiding production and delivery numbers for 2025, indicating uncertainty in future projections.
  • Lucid Group Inc (LCID) continues to face challenges in achieving positive gross margins, although improvements have been noted.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LCID.OQ - Lucid Group Inc
Q3 2024 Lucid Group Inc Earnings Call
Nov 07, 2024 / 10:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by, and welcome to the Leadership Group Third Quarter 2024 earnings conference call. Please be advised that today's conference is being recorded. Later we will conduct a question and answer session. If you have a question, please press star then the number one on your touch-tone phone. Please record your name and name of your firm after the kiln. Your name is required to ask your question. I would now like to turn the conference over to your speaker for today. I am Senior Director of Investor Relations. Please go ahead. Thank you all. Consolidated Group Third Quarter 2024 earnings call. Joining me today are Peter Wallison, SVP and CTO and gathering data, our Interim CFO and Principal Accounting
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