Lucid Group, Inc.'s stock experienced a 6.9% decline, reaching a trading price of $3.17 per share. The company issued a press release on January 11, 2024, announcing its production and delivery totals for the fourth quarter of 2023. According to the press release, Lucid produced 2,391 vehicles and delivered 1,734 vehicles during Q4. Additionally, the company disclosed that on a full-year basis in 2023, it produced 8,428 vehicles and delivered 6,001 vehicles.
Gagan Dhingra, Lucid's Interim Chief Financial Officer, stated, "We are pleased with our production and delivery results for the fourth quarter and full-year 2023 as we continue to expand our presence in the luxury electric vehicle market."
The company also revealed that it will host a conference call to discuss its fourth quarter 2023 financial results on Wednesday, February 21, 2024, at 2:30 pm PT / 5:30 pm ET. The earnings press release with a link to the live webcast will be issued on its investor relations website, and shareholders will have the opportunity to submit and upvote questions, some of which will be addressed by Lucid management during the call.
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and luxury electric vehicles centered around the human experience. The company's first car, the Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design. Lucid Air Grand Touring features an official EPA-estimated 516 miles of range. The vehicles are assembled at Lucid's factories in Casa Grande, Arizona, and King Abdullah Economic City (KAEC), Saudi Arabia, with deliveries currently underway to customers in the U.S., Canada, Europe, and the Middle East.
The full 8-K submission can be accessed here.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Revenue (k) | $4,590 | $3,976 | $27,111 | $608,181 | $695,833 |
| Revenue Growth | n/a | -13.38% | 581.87% | 2143.3% | 14.41% |
| Net Margins | -6043% | -18093% | -1934% | -214% | -380% |
| Net Income (k) | -$277,357 | -$719,380 | -$524,403 | -$1,304,460 | -$2,647,302 |
| Net Interest Expense (k) | $30 | -$120,341 | $1,374 | $30,596 | $25,213 |
| Diluted Shares (k) | 20,595 | 24,826 | 740,394 | 1,693,259 | 2,284,447 |
| Capital Expenditures | $104,290 | $459,582 | $121,907 | $1,074,852 | $927,890 |
| Current Ratio | 6.43 | 3.58 | 16.43 | 5.24 | 5.19 |
