Nikola Corp reports results for the quarter ended in September 30 - Earnings Summary

Nikola

01/11/2024 03:37

* Nikola Corp  NKLA.OQ  reported a quarterly adjusted loss
of
$2.75​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $-9.00.  The mean expectation of four analysts for the
quarter was for a loss of $2.35 per share. Wall Street expected
results to range from $-2.50 to $-2.16 per share.
    * Revenue rose 1,553.9% to $25.18 million from a year ago;
analysts expected $37.23 million. 
    * Nikola Corp's reported EPS for the quarter was a loss of
$3.89​.
    * The company reported a quarterly loss of $199.78 million.
    * Nikola Corp shares had fallen by 7.6% this quarter and
lost 83.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 10.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto & truck
manufacturers peer group is  "hold."

Wall Street's median 12-month price target for Nikola Corp is
$11.00 
This summary was machine generated from LSEG data November 1 at
03:36 a.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
 Sep. 30 2024      -2.35          -2.75          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