- Nikola ( NASDAQ: NKLA ) is scheduled to announce Q3 earnings results on Thursday, November 3rd, before market open.
- The consensus EPS Estimate is -$0.38 and the consensus revenue estimate is $22.01M. The company reported a loss of 22 cents and had no revenue last year.
- The company registered its first revenue in the June-end quarter on deliveries of 48 Tre BEVs and four (4) Mobile Charging Trailers (MCT). In the last quarter, the company said that they are on track to deliver 300 to 500 production Tre BEV trucks.
- Nikola this week inked a purchase order with Zeem Solutions for 100 Nikola Class 8 Tre battery-electric vehicles, and also signed a hydrogen supply deal with KeyState.
- During the quarter, Nikola bought Romeo power in an all stock deal.
- Over the last 2 years, NKLA has beaten EPS estimates 75% of the time and has beaten revenue estimates 38% of the time.
- Over the last 3 months, EPS estimates have seen 0 upward revisions and 8 downward. Revenue estimates have seen 0 upward revisions and 7 downward.
- SA contributor Simple Investment Ideas says Nikola is being pushed to the sidelines as larger companies enter the clean energy transportation industry.
- Many North American automakers who are increasing their presence in Mexico are looking at ways to have their electric vehicles qualify for the EV tax credit. Automakers will have to shift EV production to facilities in the U.S., Mexico, or Canada to qualify.
- Larger rival Tesla missed Q3 profit consensus, while Rivian is expected to report a wider loss in its results next week.
- Stock has lost nearly two-thirds of its value YTD. That compares to a 32.9% fall in the S&P U.S. & China Electric Vehicle Index.
For further details see:
Nikola Q3 Preview: A long drive to profitability