The earnings call highlighted significant achievements in vehicle deliveries and capital raising, alongside strong safety ratings and the launch of new products. However, it also addressed challenges related to high operating expenses, substantial net losses, and cost management issues.

Company Guidance

During the Lucid Group's Q3 2024 earnings call, the company provided several key metrics and guidance for its future performance. Lucid achieved record deliveries of 2,781 vehicles, marking a 91% increase year-over-year and a 16% sequential increase, and they produced 1,805 vehicles in the quarter. Revenue reached approximately $200 million, up 45.2% year-over-year. The company reaffirmed its guidance to produce approximately 9,000 vehicles for the full year 2024. Lucid raised $1.75 billion in capital, providing financial runway well into 2026. The company plans to strategically expand its footprint, with 55 studio and service centers and 72 mobile service vans as of the third quarter. Additionally, Lucid reduced its 2024 CapEx guidance to approximately $1 billion from $1.3 billion, reflecting savings and deferrals into 2025. The upcoming Lucid Gravity SUV is expected to drive future growth, with production scheduled to start in late 2024.

Record Vehicle Deliveries

Lucid Group delivered 2,781 vehicles in Q3 2024, marking an approximately 91% year-over-year increase and a 16% sequential increase, outperforming typical seasonal industry trends.

Successful Capital Raise

Lucid raised approximately $1.75 billion through a public offering and an investment by the Public Investment Fund, providing sufficient financial runway into 2026.

Lucid Air Safety Ratings

Lucid Air earned the highest possible overall safety rating of 5 stars from both the National Highway Traffic Safety Administration and the European New Car Assessment Program.

Launch of Lucid Gravity

Lucid opened orders for the Lucid Gravity SUV, with significant interest and increased foot traffic in showrooms by more than 70%.

Improved Gross Margin

GAAP gross margin improved by 28 percentage points sequentially, driven by cost reduction initiatives.

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Lucid Group, Inc. (DE:CH2A) Earnings, Revenues Date & History

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DE:CH2A Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 15, 2021	2021 (Q3)	-0.25 / -0.42	>-0.001	-42900.00% (-0.42)	―	―
Feb 28, 2022	2021 (Q4)	-0.41 / -0.62	-0.238	-161.22% (-0.38)	―	―
May 05, 2022	2022 (Q1)	-0.30 / -0.05	-3.271	98.52% (+3.22)	―	―
Aug 03, 2022	2022 (Q2)	-0.38 / -0.32	-1.136	71.79% (+0.82)	―	―
Nov 08, 2022	2022 (Q3)	-0.30 / -0.39	-0.417	6.98% (+0.03)
Feb 22, 2023	2022 (Q4)	-0.40 / -0.27	-0.621	56.25% (+0.35)
May 08, 2023	2023 (Q1)	-0.38 / -0.42	-0.049	-760.00% (-0.37)
Aug 07, 2023	2023 (Q2)	-0.33 / -0.39	-0.32	-21.21% (-0.07)
Nov 07, 2023	2023 (Q3)	-0.36 / -0.27	-0.388	30.00% (+0.12)
Feb 21, 2024	2023 (Q4)	-0.30 / -0.28	-0.272	-3.57% (>-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:CH2A Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	€2.04	€2.07	+1.67%
Aug 05, 2024	€2.79	€2.80	+0.36%
May 06, 2024	€2.82	€2.43	-13.87%
Feb 21, 2024	€3.34	€2.79	-16.37%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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