Lucid Motors Q4 Earnings Preview: A Look In The Rearview Mirror Shines Light On The Road Ahead

Lucid Group Inc LCID is set to report fourth-quarter earnings after the bell Wednesday. The stock has been more than cut in half over the last year, but it's up approximately 45% in 2023 heading into the print.

Here's a look at what to expect from the EV maker after the close. 

What To Know: Lucid is expected to report a fourth-quarter net loss of 40 cents per share on revenue of $302.61 million, according to Benzinga Pro. In the fourth quarter of 2021, Lucid reported a loss of 64 cents per share on revenue of $36.74 million, so analysts are anticipating exponential growth on a year-over-year basis. 

In the company's most recent quarter, Lucid missed analyst expectations when it reported a loss of 40 cents per share on quarterly revenue of $209.06 million. The automaker said it continued to experience strong demand, with over 34,000 reservations made that represent more than $3.2 billion in potential sales.

Lucid also announced plans to open up reservations for its Project Gravity SUV in "early 2023." Investors will want to watch for updates on the upcoming vehicle release. 

Check This Out: Why Tesla Co-Founder Martin Eberhard Is Disappointed With Lucid But Impressed By This EV Startup

Lucid already reported production totals for the fourth quarter. The company said it produced 3,493 vehicles during the quarter, bringing total vehicle production up to 7,180 for 2022, which came in ahead of the company's prior target of 6,000 to 7,000 vehicles annually. 

Lucid also raised approximately $1.515 billion in additional capital by selling 141.9 million shares of its common stock in an offering during the fourth quarter. The company ended the previous quarter with $3.85 billion in cash, equivalents and investments, so its liquidity position should help fund the company into 2024. Investors will want to watch for a cash position update and expected runway.

What Else: The Lucid Air became eligible for a $7,500 tax credit on Feb. 9. Those who purchase the vehicle before March 31 will receive the credit, which could help boost sales moving forward. Investors should pay attention to see if Lucid shares any sales trends based on the first two weeks of credit eligibility. 

Lucid shares caught a boost in late January following rumors the Saudi Public Investment Fund was planning to acquire the company. The stock has since pulled back, but any update could spark increased volatility in the name. 

See Also: Lucid Stock Enters New Phase Following Buyout Rumors: A Technical Analysis 

LCID Price Action: Lucid has a 52-week high of $29.04 and a 52-week low of $6.09.

The stock was up 0.30% at $9.93 ahead of the report, according to Benzinga Pro.

Photo: courtesy of Lucid.