Anyone listened to Q3 2022 Earning call?

[Tesla2.0]

Anyone has info?

I got in last 5 minutes, only heard Peter Rawlinson answered Gravity will be a sports car type SUV.

 

[zkhan2]

Anyone has info?

I got in last 5 minutes, only heard Peter Rawlinson answered Gravity will be a sports car type SUV.

Here is a good, short summary:

Lucid Motors Q3 2022 results: $195.5M in revenue, 1,400 Air deliveries, and Gravity SUV reservations

Lucid Motors ($LCID) has posted its financial results for Q3 of 2022 ahead of its earnings call with investors later...

electrek.co

 

[noobzilla]

Ouch, just saw the -19% drop in stock price today. I don't own any but that financial summary looks painful.

 

[ken43]

Ouch, just saw the -19% drop in stock price today. I don't own any but that financial summary looks painful.

I'm surprised at the market reaction to Q3 report. It seems like Lucid did pretty much what it said it was going to do in Q3 and is on track for Q4 performance. I do wish that they would deliver MY AGT though

 

[PaulM]

I always loved the DeLorean. What… too soon!?

 

[Neurio]

I'm surprised at the market reaction to Q3 report. It seems like Lucid did pretty much what it said it was going to do in Q3 and is on track for Q4 performance. I do wish that they would deliver MY AGT though

The market reaction is a due to the double whammy of missing the estimates and announcing they'll be raising $1.5B through stock sales domestically and to the Saudis (and hence stock dilution).

 

[joec]

Looks like another good buying opportunity.

 

[Mr_rhythm]

The tech market is getting hammered today because of the midterm elections.

 

[ModelSToLucidAir]

Stock would have done better had they share the guidance for next year.

 

[noobzilla]

The market reaction is a due to the double whammy of missing the estimates and announcing they'll be raising $1.5B through stock sales domestically and to the Saudis (and hence stock dilution).

Oh did not know that. Make it triple whammy. 1) Missing estimates 2) Stock sales 3) Election reaction

oh I forgot about 4) inflation report tomorrow

 

[MoniputerLM]

I always loved the DeLorean. What… too soon!?

Not funny!! Well maybe a little...

 

[stratus]

Looks like another good buying opportunity.

I love the optimism.

 

[stratus]

Not funny!! Well maybe a little...

Yeah, a little funny but a tad “ oh shit , I hope not”.

 

[MoniputerLM]

Here is a good, short summary:

Lucid Motors Q3 2022 results: $195.5M in revenue, 1,400 Air deliveries, and Gravity SUV reservations

Lucid Motors ($LCID) has posted its financial results for Q3 of 2022 ahead of its earnings call with investors later...

electrek.co

They are going to have to deliver a lot more cars to make a profit.

 

[stratus]

They are going to have to deliver a lot more cars to make a profit.

Very very true. Let’s hope they can ramp up overseas.
So much potential , but a very difficult economic environment for a new company.

 

[hmp10]

. . . a very difficult economic environment for a new company.

The headwinds into which Lucid has been sailing for the past two years have been extraordinary: COVID, travel restrictions limiting on-site work with vendors, epic supply line disruptions, inflationary price increases. The problems posed by these events have not been unique to Lucid. I reserved a Launch Edition of the Rivian R1S in February 2019. Last week I got another cryptic email from Rivian saying nothing specific but making it nevertheless clear that I shouldn't expect delivery until sometime in 2023 -- four years after I reserved. The "Rivian Guide" who I was told would contact me to configure my order by Thanksgiving of 2021 has yet to materialize.

Even with all these problems. Lucid managed to bring an amazing car to market (admittedly in smaller-than-anticipated numbers) that won Motor Trend Car of the Year, toasted the field at the Goodwood Hill Climb, and received overwhelmingly strong reviews from the automotive press.

Given the present economic waters, there was nothing unexpected in Lucid's earnings call. Even in more stable times, complex industrial startups are almost invariably losing profit propositions at this early stage of their evolution.

Tesla stock has lost 46% of its value over the past year and, now that the suspicions that Elon Musk is an unstable character with a political axe to grind and fading focus on running an automotive company have been confirmed, it's not looking up for the long term.

I'm comfortable with my Lucid holdings and am taking this as a buying opportunity.

 

[wklglider]

When will their AMP-1 phase 2 start production? They can't make profits at the current maximum production rate of 70 cars per day. They reported a net loss of $530 million for the third quarter. Assuming the avg price of a Pure is $0.09 million, their maximum gross income for a single quarter will be 365/4*70*0.09=$575 million. It doesn’t seem possible to cover their current net loss.

 

[stevelitchfieldpark]

Looks like another good buying opportunity.

Unfortunately, Lucid has been a buying opportunity since last fall when it dropped from 56 to 36 and now 11 ouch!

 

[Shuasha]

Unfortunately, Lucid has been a buying opportunity since last fall when it dropped from 56 to 36 and now 11 ouch!

It was in the 10's for an hour of so a few weeks ago. It will eventually bounce back.

 

[HariK]

I'm surprised at the market reaction to Q3 report. It seems like Lucid did pretty much what it said it was going to do in Q3 and is on track for Q4 performance. I do wish that they would deliver MY AGT though

I think the market was looking for some guidance on deliveries in 2023. The market probably noted that in the past the guidance was lowered from 20k to 14k to 7k and now no guidance at all but 34k reservations makes investors wonder how long it will take to meet the demand. I am investor with a few thousand shares and down whopping 58% from my avg cost 26.73. I have to wait perhaps till the end of 2024 at least to break even. What is scary is a lot of competition is coming by 24 and more will be announced in 23 and 24.