The Lucid share $LCID (+0.98%) continues to tumble, despite positive news! On Tuesday after the close of trading, the Tesla rival published its results for the fourth quarter of 2024. Although there was a loss of USD 0.22 per share, this was better than analysts' estimates of USD -0.25. In the previous year, the loss was USD -0.29 per share.
Sales increased to USD 234.473 million, a significant improvement on the USD 157.2 million in the same period last year. However, analysts had expected USD 214.1 million.
A loss of USD 1.25 per share was reported for the full financial year 2024, while experts had expected a loss of USD 1.178. Total revenue amounted to USD 807.832 million, exceeding expectations of USD 788.4 million. In the previous year, this figure was only USD 595.3 million.
The company has also announced a change in management: CEO Peter Rawlinson is stepping down to take on a strategic role. Marc Winterhoff, previously COO, will become the new interim CEO. It remains to be seen whether these changes can stabilize the Lucid share price. 📈