Let’s dig into the relative performance of Lucid (NASDAQ:LCID) and its peers as we unravel the now-completed Q4 automobile manufacturing earnings season.
Much capital investment and technical know-how are needed to manufacture functional, safe, and aesthetically pleasing automobiles for the mass market. Barriers to entry are therefore high, and auto manufacturers with economies of scale can boast strong economic moats. However, this doesn’t insulate them from new entrants, as electric vehicles (EVs) have entered the market and are upending it. This has forced established manufacturers to not only contend with emerging EV-first competitors but also decide how much they want to invest in these disruptive technologies, which will likely cannibalize their legacy offerings.
The 6 automobile manufacturing stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 5.6%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 14.4% since the latest earnings results.
Lucid (NASDAQ:LCID)
Founded by a former Tesla Vice President, Lucid Group (NASDAQ:LCID) designs, manufactures, and sells luxury electric vehicles with long-range capabilities.
Lucid reported revenues of $234.5 million, up 49.2% year on year. This print exceeded analysts’ expectations by 10.8%. Overall, it was an decent quarter for the company with an impressive beat of analysts’ sales volume and EPS estimates.
"2024 was a transformational year for Lucid and I am honored to step into this role as Lucid enters the next phase of its journey," said Marc Winterhoff, Interim CEO.
Lucid pulled off the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 11.1% since reporting and currently trades at $2.32.
We think Lucid is a good business, but is it a buy today? Read our full report here, it’s free.
Best Q4: Ford (NYSE:F)
Established to make automobiles accessible to a broader segment of the population, Ford (NYSE:F) designs, manufactures, and sells a variety of automobiles, trucks, and electric vehicles.
Ford reported revenues of $48.21 billion, up 4.9% year on year, outperforming analysts’ expectations by 5.5%. The business had a stunning quarter with a solid beat of analysts’ sales volume and EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 4.9% since reporting. It currently trades at $9.51.
Is now the time to buy Ford? Access our full analysis of the earnings results here, it’s free .
Slowest Q4: Tesla (NASDAQ:TSLA)
Originally founded by Martin Eberhard and Marc Tarpenning in 2003, Tesla (NASDAQ:TSLA) is an electric vehicle company accelerating the world’s transition to sustainable energy.
Tesla reported revenues of $25.71 billion, up 2.1% year on year, falling short of analysts’ expectations by 6%. It was a disappointing quarter as it posted a significant miss of analysts’ operating income and EPS estimates.
As expected, the stock is down 24.4% since the results and currently trades at $293.18.
Read our full analysis of Tesla’s results here.
Winnebago (NYSE:WGO)
Created to provide high-quality, affordable RVs to the post-war American family, Winnebago (NYSE:WGO) is a manufacturer of recreational vehicles, providing a range of motorhomes, travel trailers, and fifth-wheel products for outdoor and adventure lifestyles.
Winnebago reported revenues of $625.6 million, down 18% year on year. This number came in 6.9% below analysts' expectations. Overall, it was a slower quarter as it also recorded a miss of analysts’ Motorhomes revenue estimates and a significant miss of analysts’ adjusted operating income estimates.
Winnebago had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 18.8% since reporting and currently trades at $42.16.
Read our full, actionable report on Winnebago here, it’s free.
General Motors (NYSE:GM)
Founded in 1908 by William C. Durant, General Motors (NYSE:GM) offers a range of vehicles and automobiles through brands such as Chevrolet, Buick, GMC, and Cadillac.
General Motors reported revenues of $47.7 billion, up 11% year on year. This result surpassed analysts’ expectations by 8%. Overall, it was a very strong quarter as it also put up a solid beat of analysts’ sales volume estimates and full-year EPS guidance exceeding analysts’ expectations.
The stock is down 11.7% since reporting and currently trades at $48.60.
Read our full, actionable report on General Motors here, it’s free.
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