Nikola (NKLA) and Fisker (FSR) will report for the fourth quarter and continue a busy week for earnings and other announcements from EV companies. Nikola stock and Fisker stock fell.
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Nikola earnings
Estimates: Analysts expect a loss of 23 cents per share on nominal revenue. So far, Nikola’s modest sales come from solar installations and not from electric vehicles.
Results: See you again later.
Nikola’s range includes battery electric and hydrogen fuel cell trucks. It is aimed at the launch of the battery-powered Nikola Tre, with a distance of 300 kilometers, in Q4. A fuel cell version of the Tre, with a long distance of up to 500 miles, will follow in the second half of 2023. The company also aims to launch a semi-truck called Two, with up to 900 km Range, in late 2024.
The Tre EV will initially be manufactured in a factory in Ulm, Germany and eventually in Coolidge, Ariz. Nikola has set a goal to essentially complete the German plant by the end of 2020 and complete the first phase of construction of the plant in Arizona by the end of 2021. .
But plans to build an electric pickup hit hard in November General Motors (GM) has plans to take a stake in Nikola and help build it on the Badger. Instead, he agreed to supply fuel cells for Nikola’s commercial semi-trucks.
StockShares fell 4.9% to 20.19 on Thursday’s stock market. Nikola shares are again above the 50-day line after hitting key spot Tuesday but still trending lower after bad news.
Chinese EV manufacturer Li Auto (LI), which reported a surprising profit early Thursday, fell 6.9%. Tesla (TSLA) fell 6% after halting Model 3 production amid global scarcity. Electric power supply manufacturer Hyliion (HYLN), which reported strong losses on Tuesday, sold 5%.
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Fisker Earnings Report
Estimates: Analysts see a loss of 5 cents per share on no revenue.
Results: See you again later.
Fisker’s all-electric, luxury Ocean SUV, developed with Magna International (MGA), must be paid by the end of 2022.
On Wednesday, Fisker announced a second EV with which he will develop appeal (AAPL) supplier Foxconn, promises a “breakthrough” vehicle in short order.
Stock: Shares reversed lower and fell 3.3% to 21.79 after buying an intraday of 23.73, according to the MarketSmith chart analysis. Fisker shares rose 39% on Wednesday with its Foxconn partnership.
The earnings report is the first since Fisker shares were announced on October 30 through a reverse merger with Spartan Energy.
On February 12, Morgan Stanley Fisker shares began to overweight, citing its’ assets-light, design-centric EV business model that improves time to market and break-even points.
Find Aparna Narayanan on Twitter @IBD_Aparna.
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