TECH - EV Truck Maker Nikola's Topline Plunges 30% in Q1 On Weak Demand Stock Tanks | Benzinga
Nikola Corp (NASDAQ:NKLA) stock declined after the company reported its fiscal first quarter 2024 results Tuesday.
The company reported sales of $7.5 million, vs. $10.7 million a year ago, missing the analyst consensus estimate of $15.8 million.
Adjusted EPS loss of $(0.09) versus $(0.22) Y/Y, beat the analyst consensus loss estimate of $(0.10).
Nikola produced 43 trucks in the quarter compared to 63 a year ago and shipped 40 trucks compared to 31 a year ago.
Nikola maintained its dominant market share of HVIP vouchers for Class 8 FCEVs, ending the quarter with 362 of 367, or 99% of the unredeemed vouchers it requested from 2023 through March 2024.
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