Nikola Corp reports results for the quarter ended in June - Earnings Summary

Nikola

09/08/2024 17:05

* Nikola Corp  NKLA.OQ  reported a quarterly adjusted loss
of
$2.67​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of
$-6.00.  The mean expectation of five analysts for the quarter
was for a loss of $2.85 per share. Wall Street expected
results to range from $-3.02 to $-2.58 per share.
    * Revenue rose 103.9% to $31.32 million from a year ago;
analysts
expected $27.12 million. 
    * Nikola Corp's reported EPS for the quarter was a loss of
$2.89​.
    * The company reported a quarterly loss of $133.67 million.
    * Nikola Corp shares had fallen by 4.8% this quarter and
lost 70.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 8.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto & truck
manufacturers peer group is also "buy"

Wall Street's median 12-month price target for Nikola Corp is
$14.00 
This summary was machine generated from LSEG data August 9 at
04:05 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      -2.85          -2.67          Beat
 Mar. 31 2024      -2.90          -2.70          Beat
 Dec. 31 2023      -3.90          -3.30          Beat
 Sep. 30 2023      -4.17          -9.00          Missed