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Lucid vehicle
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Lucid falls on disappointing earnings and a weaker production outlook

Lucid reported its second-quarter earnings after the bell on Tuesday.

Max Knoblauch

Shares of luxury EV maker Lucid fell more than 6% in after-hours trading after the company posted its second-quarter earnings.

Lucid reported a loss per share of $0.28 on $259.4 million in sales. That’s worse than the $0.22 loss per share on revenue of $259 million expected by analysts polled by FactSet. In the same period last year, Lucid’s revenue was $200.6 million.

Costs continued to outweigh sales, and Lucid posted a net loss of $855.3 million on the quarter, worse than the $738 million analysts expected and 8% deeper than the same period last year.

Looking ahead, Lucid downwardly revised its production outlook to between 18,000 and 20,000 vehicles, below its previous guidance of 20,000 vehicles. Lucid improved its delivery total by 38% in the second quarter, selling about 3,300 vehicles.

Last month, Lucid shares surged following news that Uber would make “multi-hundred-million dollar investments” in the company in order to launch a US robotaxi network next year. The stock has since wiped out most of those gains and is down about 19% year to date.

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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.

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