NASDAQ$NKLAQ
Nikola Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Nikola's Q1 2024 performance reflected continued execution on hydrogen fuel cell electric trucks (FCEVs) and expansion of HYLA's North American reach.
Nikola Corporation reported its Q1 2024 results, highlighting the delivery of 40 FCEVs, exceeding the high-end of guidance. The company is focused on expanding its hydrogen infrastructure and remediating BEVs, with first sale agreement for credits generated for Model Year 22.
- Wholesaled 40 FCEVs in Q1, exceeding the high-end of guidance.
- Expanded HYLA's North American reach with new hydrogen refueling stations in Ontario, Long Beach, and Alberta.
- Completed the first delivery of a remediated BEV back to customer in Q1.
- Maintained dominant market share of HVIP vouchers for Class 8 FCEVs.
Headline financials
Revenue & EPS history
Nikola · Revenue · Quarterly
$7.5M
Revenue by segment
Nikola · $36K total across 1 segment · Q2 2020
- Solar Revenues$36K—100.0%
Forward guidance
Nikola is focused on executing its plans, expanding its hydrogen infrastructure, and remediating BEVs. They expect to opportunistically sell on-hand inventory for revenue in 2025.
Tailwinds
- Expanding into new markets like N.Y.
- Confident about their ability to monetize NOx and particulate matter credits.
- HYLA team is executing its Hydrogen Highway Plan, and we remain on track.
- Completed first delivery of remediated BEV back to customer in Q1.
- They now expect to provide nine hydrogen fueling solutions by mid-year 2024 and 14 by year-end 2024.
Headwinds
- Ability to sell Nikola’s on-hand inventory will be dependent upon future battery supply.
- Now expect to opportunistically sell on-hand inventory for revenue in 2025.
- Prioritizing returning BEVs to customers and dealers and now expect to complete remediation of these units by year-end 2024.
- Gross margin (768)%.
- Loss from operations $(145,363).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q1 2024
+211.7%
Avg return
Earnings day
-12.0%
Avg return
5 days after
-20.4%
Avg return
30 days after
41%
11 / 27 earnings
Positive
+2900.0%
Q3 2019
Best reaction
-29.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2024 | +3.3% | -24.1% | -1.9% | |
| Q3 2024 | -11.1% | -24.4% | -54.2% | |
| Q2 2024 | +2.8% | -1.0% | -32.3% | |
| Q1 2024 | -9.1% | -10.3% | -20.8% | |
| Q4 2023 | +8.8% | +8.1% | -5.8% | |
| Q3 2023 | +8.6% | -1.0% | -6.8% | |
| Q2 2023 | -29.7% | -43.0% | -65.6% | |
| Q1 2023 | -18.8% | -22.4% | -38.9% | |
| Q4 2022 | -4.7% | -4.8% | -36.1% | |
| Q3 2022 | -10.3% | -15.1% | -13.9% | |
| Q2 2022 | +7.6% | -7.1% | -29.8% | |
| Q1 2022 | -6.3% | -22.7% | -7.4% | |
| Q4 2021 | +15.7% | +12.0% | +48.4% | |
| Q3 2021 | +3.4% | — | — | |
| Q2 2021 | -5.2% | — | — | |
| Q1 2021 | +11.0% | — | — | |
| Q4 2020 | -14.5% | — | — | |
| Q3 2020 | -7.9% | — | — | |
| Q2 2020 | -4.0% | — | — | |
| Q1 2020 | -3.6% | — | — | |
| Q4 2019 | -20.0% | — | — | |
| Q3 2019 | +2900.0% | — | — | |
| Q2 2019 | +2900.0% | — | — | |
| Q1 2019 | +0.0% | — | — | |
| Q4 2018 | +0.0% | — | — | |
| Q3 2018 | +0.4% | — | — | |
| Q2 2018 | +0.0% | — | — |
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