Lucid Reports Q3 Double Miss as Transformation Plan Progresses

Lucid Group Inc (NASDAQ:LCID) posted financial results for the third quarter after the market close on Monday. Here’s what you need to know from the report.

• Lucid Group stock is among today’s performers. What’s driving LCID stock?

Lucid Q3 Earnings Highlights

Lucid reported third-quarter revenue of $350.32 million, missing analyst estimates of approximately $407.31 million, according to Benzinga Pro. Total revenue was up 4% on a year-over-year basis. The company noted that the U.S. electric vehicle market was down 41% over the same period.

The EV company reported an adjusted loss of $2.30 per share for the quarter, missing estimates for a loss of $2.28 per share.

“Our transformation is beginning to show progress. We are acting with urgency, strengthening the fundamentals and driving greater discipline, while continuing to invest in the priorities to deliver profitable long-term growth,” said Silvio Napoli, CEO of Lucid.

Lucid produced 2,954 vehicles in the third quarter and delivered 3,806 vehicles as the company continued to execute its planned inventory reduction.

The company noted it achieved approximately $800 million of savings year-to-date and is on track to reach its full-year cash flow improvement plan. Lucid ended the quarter with approximately $2 billion in total liquidity, which is expected to fund operations and key investments into the fourth quarter of 2027.

Production of a midsize vehicle remains planned for the second half of 2027. The company plans to announce reveal and production dates in the first quarter.

Lucid management will discuss the quarter on an earnings call set to start at 5:30 p.m. ET.

LCID Shares Slide After the Bell

LCID Price Action: Lucid shares were down 3.06% in after-hours, trading at $3.49 at the time of publication on Monday, according to Benzinga Pro.

Image: Courtesy Lucid