ACHR - What's Going On With Archer Aviation Stock After Q1 Earnings? | Benzinga
Archer Aviation Inc. (NYSE:ACHR) shares are moving Friday after the company reported its first-quarter financial results. Here's a look at the details from the report.
The Details:
Archer Aviation reported quarterly losses of 36 cents per share which missed the analyst consensus estimate of losses of 35 cents by 2.86%.
The company reported a net loss for the first quarter of 2024 of $116.5 million. Archer said the loss represents investments required to achieve the key elements of its commercialization plan, including continued investment in the design, development, test and certification activities for its Midnight aircraft. It also included non-recurring payments to several of supply chain partners and investments to build out its testing and manufacturing facilities in San Jose, California.
Archer Aviation said it sees second-quarter operating expenses in a range of $80 million to $95 million.
“The electrification of aviation continues to increasingly emerge into the mainstream every day. From the outset, we’ve been clear that our strategy is ...