LCID: Lucid Stock Sinks 8% After Another Big Loss, Trimmed Production Guidance

Luxury EV maker is the moonshot many retail traders are banking on. But can the lossmaker reel itself out of the red paint?

🚨 Another Quarter, Another Big Miss

• Lucid stock LCID erased more than 8% in after-hours trading Tuesday following the company’s not-so-good earnings report.
• Lucid lost $0.28 a share in the last quarter on $259.4 million in sales, missing both top and bottom-line estimates. Analysts expected a $0.22 loss. Same time last year? $200.6 million in revenue — so there’s growth, just not profitable growth.
• Net loss ballooned to $855 million, worse than the $738 million Wall Street had braced for and 8% deeper in the red than last year. EVs may be the future, but this one’s still burning cash right now in the very present.

🏭 Production Goals Meet Reality

• Lucid slashed its full-year production guidance to 18,000–20,000 vehicles, down from its earlier 20,000 goal.
• The company did deliver about 3,300 vehicles in the second quarter, up 38% from the first quarter. So there’s momentum. But scaling continues to be the elephant in the garage.
• Despite the polish and sleekness of the Lucid Air, costs are still outrunning demand, and mass production remains a lucid dream

🤝 Uber Deal, Chalamet Ads

• Last month, Lucid surged on a $300 million investment from Uber, tied to plans to deploy 20,000 robotaxis over the next six years. That’s a long runway.
• To boost brand recognition, Lucid tapped Timothée Chalamet in a glossy new ad campaign. But celebrity cachet can only do so much when earnings keep disappointing.
• The stock is now down about 20% year to date, and much of the goodwill from the Uber news is in the rear-view mirror.