Lucid (LCID) This autumn 2025 outcomes

Lucid Group reported combined fourth-quarter outcomes Tuesday as the electrical car maker continues to face difficult market situations and inside struggles.

The corporate extensively missed Wall Avenue’s quarterly earnings expectations, whereas beating common income estimates by roughly 12%. It additionally revised its 2025 manufacturing outcomes resulting from inside validation points, however guided for a notable enhance in car manufacturing this 12 months.

This 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 cents 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 larger effectivity and ship on our commitments to gross margin enchancment and long run progress,” based on 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 factors in effectivity.

“We’re adjusting and going to a stage the place we expect we need to be and should be,” he mentioned. “But it surely’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 might 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 12 months — from 18,378 models to 17,840 models — got here as “538 autos had not accomplished sure inside procedures required below its ultimate validation course of to be categorised as produced.”

The corporate mentioned the autos are anticipated to be accomplished this 12 months, 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 wished to essentially be conservative and make it possible for we’re hitting the numbers that we’re projecting,” he advised CNBC.

Lucid is anticipated to start manufacturing of a new, cheaper midsize car on the finish of this 12 months, 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 12 months, adopted by the Air sedan. The corporate additionally plans to launch its first Lucid robotaxis with beforehand introduced companions.

Winterhoff mentioned the corporate’s predominant priorities this 12 months are reaching its manufacturing goal, rising gross sales, persevering with effectivity positive factors and making ready for manufacturing of the midsize car and robotaxis.

“We actually need to make it possible for we [are] on our path to profitability, make it possible for we’re not spending cash that we do not have to. That is very, crucial,” 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 12 months with roughly $4.6 billion in whole liquidity, which Lucid CFO Taoufiq Boussaid mentioned was “sturdy” and would supply flexibility “to execute near-term targets whereas investing in future progress.”

Lucid reported a web lack of $2.7 billion in 2025, consistent with a $2.71 billion loss a 12 months earlier. That features greater than doubling its year-over-year losses throughout the fourth quarter to $814 million. It reported a lack of $12.09 per share for the 12 months.

The corporate’s 2025 income was up 68% to $1.35 billion, together with greater than doubling year-over-year outcomes throughout the fourth quarter.