NKLA - Production deliveries cash burn rate among closely watched metrics for Nikola's Q1

2023-05-08 15:48:17 ET

Nikola ( NASDAQ: NKLA ) is scheduled to announce Q1 earnings results on Tuesday, May 9th, before market open.

The consensus EPS Estimate is -$0.26 (-23.8% Y/Y) and the consensus Revenue Estimate is $12.35M.

Over the last 2 years, NKLA has beaten EPS estimates 88% of the time and has beaten revenue estimates 38% of the time.

Over the last 3 months, EPS estimates have seen 4 upward revisions and 0 downward. Revenue estimates have seen 0 upward revisions and 4 downward.

The maker of heavy-duty electric vehicles in late February reported Q4 adj. profit that beat estimates while missing out on revenue.

More importantly for investors, NKLA in the Q4 report said it had produced 133 of its Tre BEV trucks and had delivered 20 to dealers. NKLA also provided FY 2023 guidance of delivering 250-350 Tre BEVs to dealers and delivering 125-150 Tre FCEV trucks in Q4 2023.

NKLA in late March announced a $100M offering, sparking concerns that the electric vehicle maker was running out of cash and was looking to raise capital. BTIG downgraded NKLA stock on the offering and said that more work was needed for the company with its cash burn rate to prevent another capital raise.

In other developments during Q1, NKLA announced the retirement of its CFO Kim Brady and appointed Anastasiya Pasterick to take his place.

NKLA in March also said it had achieved a milestone of 100 orders for its FCEV truck.

Wall Street analysts give NKLA stock an average rating of hold. On the contrary, SA Authors rate it sell while Seeking Alpha's Quant system rates it a strong sell.

More on Nikola

• Nikola gains after announcing delivery deal for 14 Tre electric trucks
• Nikola signs hydrogen station infrastructure deal with Voltera
• Nikola expands in Canada with new sales to truck association

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