EV Stocks: Rivian, Lucid Earnings Due After This Tesla Threat

Rivian (RIVN) and Lucid (LCID) are due to report earnings for the third quarter after the stock market closes. Lucid stock and Rivian stock fell for a second straight day Tuesday, near all-time lows.




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Outlook on EV production, deliveries and pricing strategy will be key.

Reuters reported Monday that Tesla (TSLA) plans to build an affordable electric car in Germany.

Rivian Earnings, Rivan EV Deliveries

Estimates: Analysts, on average, expect the maker of premium electric vehicles to narrow net losses to $1.34 per share from $1.57 a year ago, according to FactSet. Revenue is seen surging 146%, year over year, to $1.321 billion.

That would mark the fifth straight quarter of smaller year-over-year losses, FactSet shows. It would also mark the second billion-plus revenue quarter for the EV startup.

Analysts expect Rivian to deliver 15,000 electric vehicles, with an average selling price of $85,000. Rivian makes the R1S SUV and R1T truck, as well as a commercial delivery van whose main customer is Amazon (AMZN).

In August, Rivian had raised its full-year production guidance to 52,000 electric vehicles.

Results: Check back Tuesday after the market close.

Rivian Stock

Shares of Rivian eased 0.8% to 17.06 on the stock market today. Rivian stock remains stuck under the 50-day and 200-day moving averages after losing more than a third of its value in October, the MarketSmith chart shows.

Fears of a global EV slowdown mounted in October as auto giants, including Tesla, warned on demand.

Lucid Earnings, Lucid EV Deliveries

Estimates: Analysts, on average, expect the maker of the luxury Air electric sedan to narrow net losses to 36 cents per share from 40 cents a year ago, according to FactSet. Revenue is seen falling 5%, year over year, to $185.1 million.

Lucid is seeing sales slump after triple- and double-digit gains in prior quarters, despite cutting prices repeatedly in the wake of Tesla cuts on the Model S and X. It’s also said to be losing hundreds of thousands of dollars on every EV it makes.

Analysts project 2,000 Lucid EV deliveries, with the vehicles selling for around $100,000 on average.

Results: Check back after the market close.

Lucid Stock

Shares of Lucid lost 2.4% to 4.21 Wednesday. Lucid stock remains mired below key moving averages.

After soaring on debut, several EV startups, including Lucid and Fisker (FSR), now trade as penny stocks, meaning below the $5 price level.

The collapse for many startup EV stocks highlights execution risk for young companies, especially in the capital intensive business of making electric vehicles.

Fisker reports Q3 earnings on Wednesday.

Tesla Stock

Tesla stock fell a fraction Tuesday, just below its 200-day line.

Sources told Reuters Monday that CEO Elon Musk told German factory workers he plans to build a 25,000-euro ($26,838) electric vehicle in the country. Tesla declined to comment for the story, but its entry into the mass market could further strain high-end EV startups, already hurting from an EV slowdown in the U.S. and Europe.

Tesla has plans to build a cheaper, as-yet unveiled next-generation EV at a future Mexico plant, but Elon Musk recently signaled a go-slow approach on that site, where construction hasn’t started yet. A Mexico plant would have low wages and could take advantage of U.S. IRA tax credits of up to $7,500. A cheap EV at the Berlin factory would not have those advantages.

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