Lucid Group Inc (NASDAQ:LCID) reported second-quarter financial results Tuesday after the bell. Here’s a rundown of the electric vehicle maker’s report.
Q2 Earnings: Lucid reported second-quarter revenue of $259.4 million, missing analyst estimates of $296.24 million, according to Benzinga Pro. The EV company reported a second-quarter adjusted loss of 24 cents per share, missing estimates for a loss of 21 cents per share.
Lucid said it produced 3,863 vehicles in the second quarter and delivered 3,309 vehicles. Year-to-date, Lucid has now produced 6,075 vehicles and delivered 6,418 vehicles.
The company ended the quarter with approximately $4.86 billion in total liquidity.
“We had our sixth consecutive quarter of record deliveries in Q2 and expect to continue this trend as we ramp up Lucid Gravity production in the second half of the year,” said Marc Winterhoff, interim CEO of Lucid.
Outlook: Lucid lowered its total production forecast for 2025 from approximately 20,000 vehicles to a range of 18,000 to 20,000 vehicles.
Lucid’s management team will further discuss the quarter on an earnings call scheduled for 5:30 p.m. ET.
LCID Price Action: Lucid shares were down 6.78% in Tuesday’s after-hours session, trading at $2.28 at the time of publication, per Benzinga Pro.
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Photo: courtesy of Lucid.