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DETROIT – Lucid Group missed Wall Street's expectations for a second consecutive quarter as the all-electric vehicle maker continues to address problems with the launch of its new flagship Gravity SUV.

The company, for a second consecutive quarter, also cut the high end of its annual production guidance to around 18,000 vehicles from a previous forecast of between 18,000 and 20,000 units. Its original target for this year was 20,000 units. It also reduced the low end target of its capital expenditures by $100 million to between $1 billion and $1.2 billion.

Here's how the company performed in the third quarter, compared with average estimates compiled by LSEG:

Loss per share: $2.65 adjusted vs. a loss

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