Lucid Group (NASDAQ:LCID) Releases Earnings Results, Misses Estimates By $0.29 EPS

06 May 2026, 18:48 by Renee Jackson · The Cerbat Gem

Lucid Group (NASDAQ:LCID – Get Free Report) announced its earnings results on Tuesday. The company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.53) by ($0.29), Briefing.com reports. Lucid Group had a negative return on equity of 138.82% and a negative net margin of 207.87%.The business had revenue of $282.47 million for the quarter, compared to analysts’ expectations of $358.46 million. During the same quarter last year, the business posted ($0.20) earnings per share. The business’s revenue was up 20.2% on a year-over-year basis.

Here are the key takeaways from Lucid Group’s conference call:

The company expanded its Robotaxi partnership with Uber to a minimum of 35,000 vehicles, increased Uber’s investment to $500 million, met Nuro milestones (75 engineering vehicles delivered), obtained California driverless testing approval for the Gravity, and is targeting a commercial Robotaxi launch in late 2026.
Lucid significantly strengthened liquidity post-quarter with roughly $1.05 billion raised (including $550M from PIF and $200M from Uber), an amended DDTL and pro forma total liquidity of about $4.7 billion, which management says extends runway into the second half of 2027.
Q1 was disrupted by a temporary stop-sell that left finished vehicles in inventory (5,500 produced vs. 3,093 delivered), drove a severe margin hit (reported -110.4% gross margin), a ~$1 billion net loss, and over $200 million of inventory impairments.
Management announced a refocus under incoming CEO Silvio Napoli on customer centricity, simplification and cost/capital discipline (including a planned ~$500M headcount savings over three years), affirmed the midsize (M2) platform remains on track for a 2027 ramp with favorable BOM cost, and suspended formal guidance until Q2 pending his review.

Lucid Group Stock Performance

Lucid Group stock traded down $0.06 during trading hours on Wednesday, reaching $6.19. 25,718,057 shares of the stock were exchanged, compared to its average volume of 10,963,274. Lucid Group has a 52-week low of $5.62 and a 52-week high of $33.70. The stock has a market cap of $2.03 billion, a P/E ratio of -0.51 and a beta of 0.88. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.83 and a current ratio of 1.25. The firm’s 50 day moving average is $8.99 and its 200 day moving average is $11.56.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC acquired a new stake in Lucid Group in the fourth quarter valued at about $118,000. Invesco Ltd. increased its position in Lucid Group by 61.6% during the 4th quarter. Invesco Ltd. now owns 499,053 shares of the company’s stock worth $5,275,000 after purchasing an additional 190,193 shares during the period. Alberta Investment Management Corp acquired a new position in Lucid Group during the 4th quarter worth approximately $814,000. Alpine Woods Capital Investors LLC purchased a new position in shares of Lucid Group during the 4th quarter worth approximately $288,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Lucid Group by 11.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,590 shares of the company’s stock worth $144,000 after buying an additional 1,430 shares in the last quarter. 75.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on LCID. Citigroup started coverage on shares of Lucid Group in a research note on Wednesday, March 18th. They issued a “buy” rating and a $17.00 price objective on the stock. Royal Bank Of Canada decreased their target price on shares of Lucid Group from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Monday, April 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Lucid Group in a research report on Friday, March 27th. Robert W. Baird set a $6.00 price objective on Lucid Group in a research note on Wednesday. Finally, Benchmark cut Lucid Group from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $10.50.

Check Out Our Latest Stock Report on Lucid Group

Lucid Group News Roundup

Here are the key news stories impacting Lucid Group this week:

Positive Sentiment: Liquidity boost — Lucid completed a roughly $1.05B capital package (PIF convertible preferred, a $300M registered offering, and a $200M equity investment from Uber), which materially improves the company’s cash runway and reduces near-term financing risk. Lucid Announces First Quarter 2026 Financial Results
Positive Sentiment: Production and sales growth vs. prior year — Lucid produced ~5,500 vehicles (+149% y/y) and delivered 3,093 in Q1 with revenue up ~20% y/y, showing operational growth that could support future recovery if margins and supply issues improve. Lucid Announces First Quarter 2026 Financial Results
Neutral Sentiment: Mixed Wall Street view — the analyst community is split: the street average 12‑month target is materially higher than the stock (suggesting upside), but several firms cut targets or downgraded after the quarter, leaving consensus dispersion high. Wall Street Sees 104% Upside for Lucid
Negative Sentiment: Q1 miss and margin pressure — Lucid reported a wider-than-expected loss (nearly $1B) and revenue ~36% below some estimates; inventory write‑downs, supplier issues that delayed Gravity SUV deliveries, and other costs hurt margins. These operational hits drove the initial selloff. Lucid misses quarterly revenue estimates
Negative Sentiment: Analyst downgrades and price-target cuts — Morgan Stanley halved its target to $5 (Underweight), TD Cowen cut its target to $7 (Hold), and Benchmark moved from Buy to Hold; multiple shops trimmed estimates citing the earnings miss and uncertainty. Morgan Stanley Slashes Lucid Price Target TD Cowen price target cut (Benzinga)
Negative Sentiment: Leadership & guidance uncertainty — Lucid suspended annual production guidance and is undergoing a new-CEO business review; that uncertainty, plus talk of production adjustments to clear bloated inventory, is increasing near-term execution risk. Lucid Motors doesn’t know how many EVs it will build

About Lucid Group

(Get Free Report)

Lucid Group, Inc is a California-based electric vehicle manufacturer specializing in the design, engineering and production of luxury electric sedans. Its flagship model, the Lucid Air, features a proprietary battery and powertrain architecture that emphasizes energy efficiency, extended driving range and high performance. In addition to passenger vehicles, Lucid offers charging solutions and software-enabled services aimed at optimizing the ownership experience and accelerating adoption of zero-emission transportation.