Luminar Technologies Inc reports results for the quarter ended in June - Earnings Summary

Luminar Technologies

06/08/2024 23:02

* Luminar Technologies Inc  LAZR.OQ  reported a quarterly
adjusted
loss of 18 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -21 cents.  The mean expectation of ten analysts
for the quarter was for a loss of 18 cents per share. Wall
Street expected results to range from -30 cents to -12 cents per
share.
    * Revenue rose 1.6% to $16.45 million from a year ago;
analysts
expected $20.39 million. 
    * Luminar Technologies Inc's reported EPS for the quarter
was a
loss of 29 cents​.
    * The company reported a quarterly loss of $130.61 million.
    * Luminar Technologies Inc shares had fallen by 10.1% this
quarter and lost 60.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 2
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the auto, truck &
motorcycle parts peer group is also "buy"

Wall Street's median 12-month price target for Luminar
Technologies Inc is $3.00 
This summary was machine generated from LSEG data August 6 at
10:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.18          -0.18          Met
 Mar. 31 2024      -0.20          -0.19          Beat
 Dec. 31 2023      -0.19          -0.20          Missed
 Sep. 30 2023      -0.22          -0.21          Beat