Nikola Motor Company
Source: Nikola Motor Company
Electric heavy-truck maker Nikola stated Thursday it produced 133 battery-electric trucks in the 4th quarter, however provided simply 20 to dealerships, producing earnings that fell well except Wall Street’s expectations.
Nikola stated it made a series of modifications to its battery-electric truck throughout the quarter in reaction to feedback from early clients. The business likewise verified that the fuel-cell variation of its truck is still on track to start production in the 2nd half of 2023, in line with earlier assistance.
The stock fell more than 5% Thursday.
Here are the essential numbers from Nikola’s fourth-quarter incomes report, compared to Refinitiv agreement approximates:
- Adjusted loss per share: 37 cents vs. 43 cents anticipated
- Revenue: $ 6.6 million vs. $321 million anticipated
Nikola’s fourth-quarter bottom line was $2221 million, or 46 cents per share. The truck maker lost $1594 million, or 39 cents per share on a GAAP basis, in the year-ago duration.
As ofDec 31, Nikola had $2334 million in money and equivalents offered, below $3157 million at the end of September.
Nikola’s fourth-quarter production brought it to 258 trucks integrated in2022 That was simply enough to strike the assistance variety it offered in November, when it stated it anticipated to produce in between 255 and 305 trucks for the complete year.
Production must increase rather in2023 Nikola stated financiers need to anticipate it to provide in between 250 and 350 battery-electric trucks and 125 to 150 of its upcoming fuel-cell trucks this year. The business likewise anticipates to lower expenses on its battery-electric trucks by about $105,000 per truck by year-end as it recognizes cost savings from its acquisition of battery-pack maker Romeo Power.
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