OTC$NRDE
Nu Ride Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Lordstown Motors reported Q4 2022 financial results, highlighting the start of commercial sales for the Endurance pickup truck and a strengthened partnership with Foxconn, though supplier issues limited production and sales.
Lordstown Motors reported Q4 2022 financial results, which included sales of three vehicles and approximately $30 million in cost of sales. The company faced supplier quality and performance issues that limited production and sales and resulted in a temporary pause in production.
- Foxconn investment of up to $170 million, with an initial $52 million funded.
- Progressed pre-development work on a new program with Foxconn EV Ecosystem.
- Started commercial sales of the Endurance electric full-size pickup truck.
- Supplier quality and performance issues limited production and sales; corrective actions underway.
Headline financials
Revenue & EPS history
Nu Ride · Revenue · Quarterly
$194K
Revenue by segment
Nu Ride · $194K total across 1 segment · Q4 2022
- Endurance$194K—100.0%
Forward guidance
Lordstown Motors expects to end the first quarter of 2023 with $150 to $170 million in cash and short-term investments. They anticipate first quarter of 2023 SG&A and R&D to decline slightly, without the accelerated stock compensation, litigation accruals and asset write-downs.
Tailwinds
- Partnership with Foxconn is expected to drive cost benefits.
- New vehicle program is key to Lordstown Motors’ long-term business strategy.
- Anticipate first quarter of 2023 SG&A and R&D to decline slightly.
- Expect to announce when production and deliveries will resume.
- Line of sight to the resolution of issues that resulted in the production pause and voluntary recalls
Headwinds
- Supplier quality and performance issues have limited production and sales.
- Temporarily paused production to address supplier quality issues.
- Voluntarily recall the Endurance to address supplier quality issues.
- Cash and short-term investments are expected to decrease in Q1 2023.
- Reliance on Foxconn for funding and development is subject to certain conditions and regulatory approvals.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2022
+0.4%
Avg return
Earnings day
-4.0%
Avg return
5 days after
-12.7%
Avg return
30 days after
44%
8 / 18 earnings
Positive
+23.9%
Q3 2021
Best reaction
-8.9%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2024 | -3.3% | -3.3% | -20.0% | |
| Q2 2024 | +6.0% | +1.6% | -6.6% | |
| Q1 2024 | +2.3% | +0.6% | -0.6% | |
| Q4 2024 | -6.2% | -9.6% | -2.3% | |
| Q4 2023 | +7.4% | +1.8% | +8.0% | |
| Q3 2023 | -3.4% | -2.6% | +18.1% | |
| Q2 2023 | -3.4% | +21.3% | +29.9% | |
| Q1 2023 | +4.1% | -8.3% | -17.9% | |
| Q4 2022 | -8.9% | -25.4% | -47.9% | |
| Q3 2022 | -5.4% | +0.0% | -24.9% | |
| Q2 2022 | +1.7% | -19.5% | -30.4% | |
| Q1 2022 | -2.6% | -3.4% | -37.7% | |
| Q4 2021 | -3.6% | -7.0% | -31.6% | |
| Q3 2021 | +23.9% | -1.3% | -25.2% | |
| Q2 2021 | -4.3% | -6.5% | +6.0% | |
| Q1 2021 | +1.6% | -0.1% | -14.4% | |
| Q4 2020 | -0.9% | -12.4% | -34.2% | |
| Q4 2019 | +2.7% | +1.8% | +3.4% |
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