A Lucid Gravity coming off the road on the firm’s manufacturing facility in Casa Grande, Arizona.
Lucid Group reported blended fourth-quarter outcomes Tuesday as the electrical car maker continues to face difficult market situations and inner struggles.
The corporate broadly missed Wall Road’s quarterly earnings expectations, whereas beating common income estimates by roughly 12%. It additionally revised its 2025 manufacturing outcomes because of inner validation points, however guided for a notable improve in car manufacturing this yr.
Here is how the corporate carried out within the fourth quarter in contrast with common estimates compiled by LSEG:
- Loss per share: $3.62 vs. a lack of $2.62 anticipated
- Income: $523 million vs. $468 million anticipated
Lucid’s outcomes come days after the corporate laid off 12% of its U.S. salaried workforce in an effort to streamline operations and “function with better effectivity and ship on our commitments to gross margin enchancment and long run progress,” in response to a press release from the corporate.
Interim Lucid CEO Marc Winterhoff described the cuts Tuesday to CNBC as a wanted realignment of the corporate’s workforce amid broader market and financial issues in addition to wanted positive aspects in effectivity.
“We’re adjusting and going to a stage the place we expect we need to be and have to be,” he mentioned. “Nevertheless it’s nothing that may proceed sooner or later.”
For 2026, the corporate introduced a car manufacturing goal of between 25,000 and 27,000 models. That may mark a rise of roughly 40% to 51% in contrast with the year-end figures the corporate launched Tuesday.
Lucid mentioned the revision for the yr — from 18,378 models to 17,840 models — got here as “538 automobiles had not accomplished sure inner procedures required below its remaining validation course of to be categorized as produced.”
The corporate mentioned the automobiles are anticipated to be accomplished this yr, with the change not affecting its beforehand reported monetary outcomes.
Winterhoff described the anticipated progress as “wholesome,” however not “outrageous” given the present slowdown in general car gross sales, together with EVs.
“Our preliminary plans had been greater, however we needed to actually be conservative and be sure that we’re hitting the numbers that we’re projecting,” he advised CNBC.
Lucid is anticipated to start manufacturing of a brand new, inexpensive midsize car on the finish of this yr, however Winterhoff mentioned it won’t be materials to its 2026 manufacturing plans. He mentioned the automaker’s Gravity SUV is anticipated to account for almost all of its manufacturing and gross sales this yr, adopted by the Air sedan. The corporate additionally plans to launch its first Lucid robotaxis with beforehand introduced companions.
Winterhoff mentioned the corporate’s primary priorities this yr are attaining its manufacturing goal, rising gross sales, persevering with effectivity positive aspects and making ready for manufacturing of the midsize car and robotaxis.
“We actually need to be sure that we’re on our path to profitability, be sure that we’re not spending cash that we do not have to. That is very, essential,” he advised CNBC.
Lucid has but to say when the corporate expects to be worthwhile. It’s scheduled to host an investor day on March 12 in New York.
Lucid mentioned it ended final yr with roughly $4.6 billion in complete liquidity, which Lucid CFO Taoufiq Boussaid mentioned was “robust” and would offer flexibility “to execute near-term goals whereas investing in future progress.”
Lucid reported a web lack of $2.7 billion in 2025, consistent with a $2.71 billion loss a yr earlier. That features greater than doubling its year-over-year losses through the fourth quarter to $814 million. It reported a lack of $12.09 per share for the yr.
The corporate’s 2025 income was up 68% to $1.35 billion, together with greater than doubling year-over-year outcomes through the fourth quarter.
