Lucid Group Inc. (NASDAQ: LCID) is set to announce its first-quarter 2025 financial results after the market closes today, May 6, with investors and analysts closely watching for signs of improvement in the electric vehicle maker’s operational and financial performance.
The earnings call, scheduled for 5:30 PM ET, is expected to provide critical updates on gross margins, vehicle deliveries, and the company’s evolving product strategy as Lucid navigates a challenging and competitive EV landscape.
Key Metrics and Analyst Expectations
Wall Street is anticipating a quarterly loss, with consensus estimates pointing to an earnings per share (EPS) of approximately -$0.22 to -$0.23 and revenue in the range of $232 million to $250 million.
While this represents a modest improvement over previous quarters, Lucid continues to operate at a loss, with analysts projecting negative gross margins near 95% for the first quarter.
This underscores the company’s ongoing struggle to achieve profitability despite notable revenue growth and increased vehicle deliveries.
Vehicle Deliveries and Production Trends
Lucid delivered 3,109 vehicles in Q1 2025, aligning with consensus estimates and marking a significant increase from 1,967 deliveries in the same period last year. Production also improved, with 2,212 vehicles manufactured in the quarter, up from 1,728 a year earlier.
The company has reaffirmed its full-year production guidance of 20,000 vehicles, signaling confidence in its supply chain and manufacturing ramp-up.
Over 600 vehicles are currently en route to Saudi Arabia for final assembly, highlighting Lucid’s global expansion efforts.
Focus on New Models and Growth Initiatives
A major point of interest for this earnings call will be the early sales performance of Lucid’s new Gravity SUV, which debuted earlier this year and is expected to play a pivotal role in broadening the company’s market reach.
Investors will also be looking for updates on the upcoming midsize SUV, targeted for production in late 2026 with a starting price below $50,000-a move aimed at capturing a larger share of the mainstream EV market.
Lucid’s capital position remains a key topic, with the company recently raising $1.1 billion through a convertible notes offering to support growth and general operations.
The relationship with the Public Investment Fund (PIF) of Saudi Arabia and the ongoing buildout of its Middle East facility are also expected to feature in management’s commentary.
Financial Health and Market Position
Despite a strong current ratio and cash holdings that exceed debt, Lucid is still burning through cash at a significant rate. The company’s financial health is rated as “fair” by some analysts, with a score of 1.9 out of 5, reflecting both liquidity strengths and ongoing operational challenges.
The stock has shown resilience relative to some peers, trading at $2.36 with a market capitalization that reflects cautious optimism about future growth.
Competitive and Industry Outlook
Lucid faces continued headwinds from intensified competition, supply chain disruptions, and the need for strategic recalibration as losses widen.
However, recent government incentives for electric vehicles and potential industry partnerships or mergers could provide future tailwinds.
The company’s strong vertical integration and U.S.-based manufacturing help mitigate tariff risks and position Lucid to benefit from shifts in the EV market, especially as some competitors face declining sales.
What to Watch in the Earnings Call
- Updates on gross margin improvement strategies
- Initial sales and customer feedback for the Gravity SUV
- Progress and timelines for the midsize SUV launch
- Capital allocation plans and cash burn rate
- Commentary on global expansion, especially in the Middle East
As Lucid Group Inc. prepares to report its Q1 2025 financial results, investors will be seeking clear evidence of operational improvement, margin recovery, and a path toward sustainable growth in an increasingly crowded electric vehicle market.