Lucid Group Eyes 90% Q4 Revenue Growth After Q3 Miss, Shares Dropped 10%
Lucid Group missed revenue forecasts in Q3, reporting $336.6 million in sales, up 68.3% year-on-year, and analysts expect Q4 revenue to rise 90% year-on-year over last quarter’s 49.2% growth. Shares are down 10% over the past month, trading below the $16.67 average analyst price target.
1. Q3 Revenue and Operating Income Miss
Lucid reported Q3 revenue of $336.6 million, marking a 68.3% year-on-year increase but falling short of analyst revenue and adjusted operating income estimates for the quarter.
2. Q4 Revenue Growth Forecast
Analysts anticipate Lucid’s Q4 revenue to grow 90% year-on-year, a significant acceleration from the 49.2% rise recorded in the same quarter last year, while peer automakers have shown mixed revenue results.
3. Stock Performance and Analyst Price Targets
Lucid shares have declined 10% over the past month, underperforming the 7.1% average gain in the automobile manufacturing segment, with an average analyst price target of $16.67 compared to the current share price.