TLDR:
- Lucid Group (LCID) will release Q4 earnings on February 25th, with analysts expecting -$0.26 EPS and $211.77M revenue
- The company delivered record-breaking 3,099 vehicles in Q4 2024, reaching 10,241 total deliveries for the year (70% increase)
- January 2025 saw 665 vehicle deliveries (51% YoY increase), including 50 new Gravity SUV units
- Stock currently trades around $3.31, with analysts giving an average price target of $3.24 and “Hold” rating
- J.D. Power projects EV market share to stay flat at 9.1% in 2025 due to reduced tax incentives
Lucid Group (NASDAQ: LCID) completed 2024 with its strongest delivery performance to date, marking four consecutive quarters of record-breaking numbers. The electric vehicle manufacturer delivered 3,099 vehicles in the fourth quarter, bringing its yearly total to 10,241 units – a 70% increase from the previous year.
The company’s stock opened at $3.31 on Tuesday, February 18, showing modest movement in a market that remains cautious about EV growth prospects. Lucid maintains a market capitalization of approximately $9.97 billion, with current financial metrics including a debt-to-equity ratio of 0.77 and a price-to-earnings ratio of -2.47.
January 2025 continued the company’s delivery momentum, with 665 vehicles reaching customers, representing a 51% increase compared to January 2024. This figure included the first 50 deliveries of Lucid’s new Gravity SUV model, marking the company’s entry into the luxury electric SUV segment.
The company is scheduled to release its fourth-quarter earnings report after market close on Tuesday, February 25th. Wall Street analysts project a loss of $0.26 per share and revenue of $211.77 million for the quarter.
Recent analyst coverage reflects mixed sentiment about Lucid’s prospects. Cantor Fitzgerald maintained a neutral rating with a $3.00 price target, while R. F. Lafferty upgraded the stock to a buy rating with a $4.00 target price.
Benchmark initiated coverage with a buy rating and a $5.00 price target, expressing optimism about the company’s growth trajectory. However, Royal Bank of Canada took a more conservative stance, lowering their price target from $3.00 to $2.00.
The current analyst consensus stands at “Hold,” with an average price target of $3.24. Among analysts covering the stock, one recommends selling, seven suggest holding, and two advocate buying.
EV Market
The broader EV market context presents challenges for Lucid’s growth narrative. U.S. electric vehicle sales increased by 15.2% in the fourth quarter of 2024, setting a volume record. However, J.D. Power projects that EV market share will remain flat at 9.1% of U.S. retail sales in 2025.
This plateau in market share is attributed to reduced government incentives, with J.D. Power noting that 64% of premium-brand EV owners cited tax credits as a primary purchase factor.
Customer satisfaction with EV charging infrastructure showed its largest quarterly decline since 2021 during the third quarter of 2024, adding another challenge to market growth.
Looking ahead, Lucid CEO Peter Rawlinson has outlined ambitious plans to reach annual production of 1 million EVs. This strategy includes developing a midsize platform for both sedan and crossover models, with starting prices around $50,000.
The company’s immediate focus remains on ramping up production of the Gravity SUV throughout 2025. The initial delivery of 50 units in January represents the beginning of this expansion effort.
Trading data shows Lucid’s stock has moved within a range of $1.93 to $4.43 over the past year. The company maintains a 50-day simple moving average of $2.92 and a 200-day average of $2.97.
Lucid continues to operate with strong liquidity ratios, reporting a quick ratio of 3.26 and a current ratio of 3.71, indicating solid short-term financial stability.
The company’s direct-to-consumer sales model includes both retail locations and online sales channels, supported by Lucid Financial Services for customer financing options.
