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Max Knoblauch

Lucid reports worse-than-expected Q1 loss, revenue, suspends full-year production guidance

Luxury EV maker Lucid reported its first-quarter earnings after markets closed on Tuesday. Its shares fell more than 2% after-hours, following a 6.5% drop at close.

For Q1, Lucid reported:

  • An adjusted loss of $2.82 per share, compared to the $2.53 loss per share expected by Wall Street analysts polled by FactSet.

  • $282.5 million in revenue, versus the $358.5 million consensus estimate.

Last month, Lucid announced that it produced 5,500 vehicles in Q1 and reaffirmed its full-year production guidance of between 25,000 and 27,000 vehicles. But on its Tuesday earnings call, the company said it was suspending that guidance.

“With Silvio now on board and conducting his review of the business, we are suspending our prior guidance and will provide a full updated outlook at our Q2 earnings call,” said CFO Taoufiq Boussaid. “I want to be clear, this is a governance decision. Near-term demand conditions remain uneven and we are managing our production cadence accordingly.”

The company also highlighted its upcoming midsize SUV, with “expected pricing starting under $50,000.” The vehicle is expected to launch before the end of the year and compete with Rivian’s R2 and Tesla’s Model Y.

Q1 marks the first earnings report for new CEO Silvio Napoli, who took over for interim CEO Marc Winterhoff (who’d led the company for more than a year following Peter Rawlinson’s exit). Lucid recently announced an expansion of its robotaxi partnership with Uber, which is now its second-largest shareholder after Saudi Arabia’s PIF sovereign wealth fund.

Lucid shares have had a long stretch of poor performance amid various dilutive events and a broader contraction across the EV industry. The stock is down about 80% from a recent high in July 2025 and down about 40% year to date. As of Tuesday afternoon, the company’s roughly $2.1 billion market cap is less than a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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