TLDR
- Lucid delivered 74% more vehicles year-over-year in 2024
- Company plans to expand with midsize vehicles starting at $50,000, with production beginning in 2026
- Projected capital expenditures of $1.4 billion for 2025 to expand manufacturing facilities
- Stock recently traded at $2.09, up 0.48% when broader market declined
- Analysts project EPS of -$0.24 for upcoming quarter, a 20% improvement from last year
Lucid Group is pushing ahead with ambitious expansion plans despite facing challenges in the competitive electric vehicle market. The luxury EV maker recently saw its stock outperform the broader market even as it deals with significant monthly losses.
On a recent trading day, Lucid Group (LCID) closed at $2.09. This represented a 0.48% gain when compared to the previous day’s closing price.
The stock’s performance stood out against the S&P 500’s daily loss of 0.76%. During the same period, the Dow fell 1.14%.
The tech-heavy Nasdaq also declined, dropping 0.18% on the same day. This made Lucid’s gains even more notable.
Despite this single-day win, Lucid’s stock has struggled recently. The company’s shares have dropped 24.91% over the past month.
This decline exceeded the Auto-Tires-Trucks sector’s loss of 20.91% during the same period. It also outpaced the S&P 500’s loss of 7.29%.
Despite these challenges, Lucid showed impressive operational growth last year. The company delivered 74% more vehicles in 2024 compared to 2023.
Investors are now looking ahead to Lucid’s upcoming earnings report. Analysts project the company will report earnings per share (EPS) of -$0.24.
If achieved, this would represent a 20% improvement from the same quarter last year. The company continues to operate at a loss, but the losses are shrinking.
Revenue projections show growth
Revenue projections also show growth. The consensus estimate calls for revenue of $233.4 million, reflecting a 35.12% increase from the equivalent quarter last year.
For the full fiscal year, analysts predict earnings of -$0.93 per share. Annual revenue is expected to reach $1.41 billion.
These figures would represent year-over-year improvements of 25.6% and 74.63%, respectively. The company continues to grow its top line at a healthy pace.
A key focus for Lucid is its expansion into the midsize vehicle market. The company plans to offer three midsize models.
New vehicles expected in late 2026
The first of these vehicles is expected to start production in late 2026. These models will have a lower starting price of about $50,000.
This price point is significantly below Lucid’s current offerings, which include the Lucid Air sedan and Gravity SUV. The company hopes this will expand its customer base.
These midsize vehicles are also important for fulfilling Lucid’s agreement with Saudi Arabia. The company has a deal to deliver 100,000 vehicles to Saudi Arabia, with most being Gravity SUVs and midsize vehicles.
To achieve these production goals, Lucid is investing heavily in manufacturing capacity. Management has forecast capital expenditures (capex) of approximately $1.4 billion for 2025.
These funds will go toward expanding two manufacturing facilities. AMP-1 is located in Arizona, while AMP-2 is in Saudi Arabia.
Both facilities will be equipped to produce the new midsize vehicles. Investors should monitor Lucid’s capex spending closely in coming quarters.
If spending falls short of the projected $1.4 billion, it could signal potential delays in the midsize vehicle production timeline. Such delays could create additional challenges for the company.
Zacks Rank system give it a “Hold” rating
According to the Zacks Rank system, Lucid Group currently holds a rank of #3, classifying it as a “Hold.” This rating takes into account recent analyst estimate revisions.
Over the last 30 days, the Zacks Consensus EPS estimate has decreased by 3.05%. This slight downward revision reflects some caution among analysts.
Lucid operates in the Automotive – Domestic industry, which is part of the broader Auto-Tires-Trucks sector. This industry currently ranks 160th out of more than 250 industries tracked by Zacks.
This places it in the bottom 37% of all industries, indicating below-average performance expectations for the group as a whole. Lucid faces not only company-specific challenges but also industry headwinds.
The next few quarters will be crucial for Lucid as it works to expand its product lineup while improving its financial performance. Investors will be watching closely to see if the company can execute on its ambitious plans.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
