Nikola Q2 2024 Earnings Preview: Will Nikola be able to deliver a turnaround?
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Contributor since / Followers
Contributor since / Followers
3 months ago
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- Nikola (NASDAQ:NKLA) is scheduled to announce Q2 earnings results on Friday, August 9th, before the market opens.
- The consensus EPS Estimate is -$2.70 vs. -$0.20 in 2Q23 and the consensus Revenue Estimate is $24.66M (+60.5% Y/Y).
- 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 3 upward revisions and 2 downward. Revenue estimates have seen 3 upward revisions and 1 downward.
- The stock has lost about 71% on a YTD basis and almost 90% over a period of one year.
- Despite this dramatic decline, Wall Street analysts maintain a bullish outlook on the company, assigning it a Buy rating.
- Meanwhile, Seeking Alpha’s Quant Rating system maintains a bearish stance on the stock, issuing a Strong Sell recommendation, citing the company’s declining growth trajectory and inferior profitability when compared to other industrial stocks.
- SA author Dilantha De Silva notes, “Despite some progress in restructuring, Nikola’s profitability remains a concern due to high production costs and limited market potential for fuel cell electric vehicles.”