Fisker Q4 Earnings Preview: Analyst Estimates, Dealer Model And Guidance In Focus

Electric vehicle (EV) company Fisker Inc FSR reports fourth-quarter financial results after market close Thursday.

Here is a look at key analyst estimates for the company and key items to watch in the earnings report.

Earnings Estimates: Analysts expect Fisker to post fourth-quarter revenue of $310.8 million according to data from Benzinga Pro.

The company reported revenue of $306,000 in last year's fourth quarter. The recent third quarter saw the company posted revenue of $71.8 million.

Fisker has missed revenue estimates from analysts in three straight quarters.

Analysts expect Fisker to post a loss of 27 cents per share in the fourth quarter, which would be an improvement on the loss of 54 cents in last year's fourth quarter.

The company has missed earnings per share estimates from analysts in five of the last six quarters.

Related Link: EV Startup Fisker Embraces Dealership Model To Boost Sales – What’s On The Cards?

What Analysts Are Saying: Needham analyst Chris Pierce highlighted the struggles Fisker faces getting vehicles to U.S. customers after the third-quarter.

"Given this dynamic FSR is in the midst of slowing Q4 production to right size vehicle inventories vs the pace of deliveries, driving up to lower our '24 estimates out of caution as the timing on accelerated deliveries appears to be the determining factor on the timing of a ramp in new vehicle production," Pierce said.

The analyst has a Hold rating on the stock.

Here are other recent analyst ratings on Fisker stock:

• Goldman Sachs: Sell rating, lowers price target from $1 to 75 cents
• Barclays: Underweight rating, lowers price target from $4 to $1
• TD Cowen: Downgrades shares from Outperform to Market Perform, lowers price target from $11 to $1
• Citigroup: Buy rating, lowers price target from $10 to $4
• Evercore ISI Group: Downgrades shares from Outperform to In-Line, lowers price target from $6 to $2

Key Items to Watch: Fisker has been in the news in recent months, with a company update highlighting the company's shift from direct sales to a shift to a dealer-based model.

"With over 100 dealers in North America and Europe who have already expressed interest in becoming a partner, Fisker has shown it has much to offer with our unique features and class-leading range, as well a striking, sustainable design," Fisker CEO Henrik Fisker said.

Fisker also previously said the dealer model could help generate more cash for the company than selling direct.

On Wednesday, the company announced it signed two new dealer partnerships for three locations in New York, Florida and Indianapolis. The company said it has now signed 12 dealer partnerships and has interest from more than 250 dealers.

Investors will be looking for an update on the progress of the dealer model and how Fisker can build out its dealer-based model and keep inventory at locations.

The automaker produced 10,142 Fisker Ocean vehicles in 2023 and completed 4,700 deliveries, with deliveries of the model beginning in June. Investors will be looking for 2024 guidance from the company, which comes after it previously lowered its 2023 outlook for production.

Shares are down 90% over the last year. The stock now trades at less than $1. Investors will look for an update on liquidity and cash and what the company plans on doing to turn around the share price.

Recent earnings reports from Lucid Group LCID and Rivian Automotive RIVN saw shares of those EV companies sell off after hours. Investors appear to be less patient with electric vehicle startups that are pushing toward increased production and profitability, and valuations have been cut.

FSR Price Action: Fisker shares trade at 72 cents versus a 52-week trading range of 52 cents to $7.77.

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