Lucid Group (NASDAQ:LCID) Announces Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Key Points

• Lucid missed Q1 estimates with EPS of ($2.82) versus a consensus ($2.53) loss and revenue of $282.47M (well below the $358.46M consensus), while a supplier stop‑sell left finished vehicles in inventory and drove a reported ~$1B net loss, a -110.4% gross margin and over $200M of inventory write‑downs.
• The company materially strengthened liquidity post‑quarter by raising roughly $1.05B (including funds from a PIF affiliate and Uber) and reports pro forma total liquidity of about $4.7B, which management says extends runway into the second half of 2027.
• Strategically, Uber increased its stake to $500M and expanded a Robotaxi commitment to a minimum of 35,000 vehicles with a targeted commercial launch in late 2026, while incoming CEO Silvio Napoli is refocusing the business on simplification and cost discipline (including ~$500M planned headcount savings) and has suspended formal guidance pending review.

Lucid Group (NASDAQ:LCID - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of ($2.53) by ($0.29), Briefing.com reports. Lucid Group had a negative return on equity of 138.82% and a negative net margin of 207.87%.The firm had revenue of $282.47 million for the quarter, compared to the consensus estimate of $358.46 million. During the same period in the previous year, the business earned ($0.20) EPS. The firm's revenue was up 20.2% compared to the same quarter last year.

Here are the key takeaways from Lucid Group's conference call:

• The company expanded its Robotaxi partnership with Uber to a minimum of 35,000 vehicles, increased Uber's investment to $500 million, met Nuro milestones (75 engineering vehicles delivered), obtained California driverless testing approval for the Gravity, and is targeting a commercial Robotaxi launch in late 2026.
• Lucid significantly strengthened liquidity post-quarter with roughly $1.05 billion raised (including $550M from PIF and $200M from Uber), an amended DDTL and pro forma total liquidity of about $4.7 billion, which management says extends runway into the second half of 2027.
• Q1 was disrupted by a temporary stop-sell that left finished vehicles in inventory (5,500 produced vs. 3,093 delivered), drove a severe margin hit (reported -110.4% gross margin), a ~$1 billion net loss, and over $200 million of inventory impairments.
• Management announced a refocus under incoming CEO Silvio Napoli on customer centricity, simplification and cost/capital discipline (including a planned ~$500M headcount savings over three years), affirmed the midsize (M2) platform remains on track for a 2027 ramp with favorable BOM cost, and suspended formal guidance until Q2 pending his review.

Lucid Group Stock Down 1.0%

LCID traded down $0.06 during trading on Wednesday, reaching $6.19. The company had a trading volume of 25,703,363 shares, compared to its average volume of 10,963,003. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.25 and a quick ratio of 0.83. Lucid Group has a 12 month low of $5.62 and a 12 month high of $33.70. The business's fifty day moving average price is $8.99 and its 200 day moving average price is $11.56. The company has a market cap of $2.03 billion, a P/E ratio of -0.51 and a beta of 0.88.

Hedge Funds Weigh In On Lucid Group

A number of large investors have recently bought and sold shares of LCID. Corient Private Wealth LLC bought a new stake in shares of Lucid Group in the fourth quarter worth $118,000. Invesco Ltd. lifted its position in shares of Lucid Group by 61.6% in the fourth quarter. Invesco Ltd. now owns 499,053 shares of the company's stock worth $5,275,000 after purchasing an additional 190,193 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Lucid Group in the fourth quarter worth $814,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Lucid Group in the fourth quarter worth $288,000. Finally, Mercer Global Advisors Inc. ADV raised its position in Lucid Group by 11.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,590 shares of the company's stock worth $144,000 after acquiring an additional 1,430 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

Key Stories Impacting Lucid Group

Here are the key news stories impacting Lucid Group this week:

• Positive Sentiment: Raised roughly $1.05 billion in April (PIF affiliate convertible preferred, a $300M common offering and a $200M Uber investment), materially improving near-term liquidity. Lucid Announces First Quarter 2026 Financial Results
• Positive Sentiment: Production and deliveries rose sharply year-over-year (5,500 produced, up 149%; 3,093 delivered), showing operational momentum versus 2025. Lucid Announces First Quarter 2026 Financial Results
• Positive Sentiment: Uber increased its strategic stake to $500M and remains a partner as Lucid pursues lower‑priced midsize EVs and robotaxi-related initiatives, which could expand future demand channels. Lucid Stock Pauses Following Q1 Earnings: What's Going On?
• Positive Sentiment: Some analysts still see meaningful upside versus current levels — the consensus 12‑month target remains well above the share price, reflecting bullish long‑term views from parts of the sell‑side. Wall Street Sees 104% Upside for Lucid
• Neutral Sentiment: Company pulled formal production guidance while the incoming CEO conducts a business review — reduces near‑term visibility but is a standard step during leadership transitions. Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Q1 revenue grew year-over-year (about +20%) but fell well short of consensus — positive top-line trend offset by other issues. Lucid Q1 Press Release / Slide Deck
• Negative Sentiment: Q1 EPS missed estimates badly (reported loss of $2.82 per share vs. consensus ~$2.53 loss) and the quarter showed a nearly $1B loss in headlines; margins were hit by write‑downs and costs. Lucid Q1 Results (MarketBeat)
• Negative Sentiment: Inventory write‑downs and bloated inventory forced Lucid to say it will adjust production, pressuring near‑term margins and raising execution risk. LCID Q1 Earnings Miss on Inventory Write‑Downs (Zacks)
• Negative Sentiment: Supplier issue disrupted Gravity SUV deliveries in February, producing the biggest revenue miss in years and exacerbating the top‑line miss. Lucid misses quarterly revenue estimates (Reuters)
• Negative Sentiment: Sell‑side reactions turned negative: Morgan Stanley halved its price target to $5 and kept an Underweight rating; Benchmark downgraded from Buy to Hold — these cuts worsen short‑term sentiment. Morgan Stanley Slashes Lucid Price Target (247WallSt)

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LCID. TD Cowen reduced their price objective on shares of Lucid Group from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Wednesday. Citigroup assumed coverage on shares of Lucid Group in a research note on Wednesday, March 18th. They set a "buy" rating and a $17.00 price objective on the stock. Benchmark lowered shares of Lucid Group from a "buy" rating to a "hold" rating in a research note on Wednesday. Morgan Stanley set a $5.00 price target on shares of Lucid Group in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Lucid Group in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Lucid Group has a consensus rating of "Reduce" and a consensus price target of $10.50.

Lucid Group Company Profile

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.

The company was founded in 2007 under the name Atieva, initially focusing on battery technology and electric powertrains for other automakers before transitioning to its own branded vehicles.

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