We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fisker (FSR) Gears Up to Post Q3 Earnings: What's in the Cards?
Read MoreHide Full Article
Fisker Inc. is scheduled to release third-quarter 2023 results on Nov 8 before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues are pegged at 19 cents and $302.4 million, respectively. The consensus mark for Fisker’s third-quarter loss per share widened by 2 cents in the past 30 days.
Fisker’s bottom-line estimates imply growth of 59.6% from the year-ago reported figure. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year rise of 3,023,400%.
In the last reported quarter, it posted a net loss of 25 cents per share, narrower than the Zacks Consensus Estimate of 31 cents per share and the year-ago loss of 36 cents. It reported revenues of $825 thousand, rising from $10 thousand recorded in the year-ago quarter.
Over the trailing four quarters, Fisker has surpassed earnings estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 15.17%. This is depicted in the graph below:
Let’s take a look at how things have shaped ahead of its third-quarter earnings release.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Fisker. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as elaborated below.
Earnings ESP: Fisker has an Earnings ESP of -23.68%. This is because the Most Accurate Estimate of loss is pegged 5 cents lower than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: FSR currently carries a Zacks Rank #3.
Factors to Note
In the last reported quarter, Fisker posted revenues of $825,000, up from $198,000 reported in the prior quarter. With the arrival of multiple oceangoing shipping vessels, Fisker expected customer deliveries in the United States to accelerate in September. Higher deliveries are likely to have boosted revenues in the to-be-reported quarter.
Discouragingly, Fisker’s cost of goods sold in the last reported quarter rose to $763,000, up from $164,000. The company now expects 2023 production in the range of 20,000-23,000 units, down from the earlier estimate of 32,000-36,000 units. Contracting margin amid high cost of goods sold and a downward revision in production target are likely to have played spoilsports in the to-be-reported quarter.
Earnings Whispers for Peers
Canoo Inc. (GOEV - Free Report) is scheduled to post third-quarter earnings on Nov 14. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share is pegged at 12 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
GOEV surpassed earnings estimates in all of the trailing four quarters, the average surprise being 18.77%.
XPeng Inc. (XPEV - Free Report) is scheduled to post third-quarter earnings on Nov 8. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share is pegged at 72 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).
XPEV surpassed earnings estimates in two of the trailing four quarters and missed twice, the average negative surprise being 11.91%.
Image: Bigstock
Fisker (FSR) Gears Up to Post Q3 Earnings: What's in the Cards?
Fisker Inc. is scheduled to release third-quarter 2023 results on Nov 8 before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues are pegged at 19 cents and $302.4 million, respectively. The consensus mark for Fisker’s third-quarter loss per share widened by 2 cents in the past 30 days.
Fisker’s bottom-line estimates imply growth of 59.6% from the year-ago reported figure. The Zacks Consensus Estimate for its quarterly revenues suggests a year-over-year rise of 3,023,400%.
In the last reported quarter, it posted a net loss of 25 cents per share, narrower than the Zacks Consensus Estimate of 31 cents per share and the year-ago loss of 36 cents. It reported revenues of $825 thousand, rising from $10 thousand recorded in the year-ago quarter.
Over the trailing four quarters, Fisker has surpassed earnings estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 15.17%. This is depicted in the graph below:
Fisker Inc. Price and EPS Surprise
Fisker Inc. price-eps-surprise | Fisker Inc. Quote
Let’s take a look at how things have shaped ahead of its third-quarter earnings release.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Fisker. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as elaborated below.
Earnings ESP: Fisker has an Earnings ESP of -23.68%. This is because the Most Accurate Estimate of loss is pegged 5 cents lower than the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: FSR currently carries a Zacks Rank #3.
Factors to Note
In the last reported quarter, Fisker posted revenues of $825,000, up from $198,000 reported in the prior quarter. With the arrival of multiple oceangoing shipping vessels, Fisker expected customer deliveries in the United States to accelerate in September. Higher deliveries are likely to have boosted revenues in the to-be-reported quarter.
Discouragingly, Fisker’s cost of goods sold in the last reported quarter rose to $763,000, up from $164,000. The company now expects 2023 production in the range of 20,000-23,000 units, down from the earlier estimate of 32,000-36,000 units. Contracting margin amid high cost of goods sold and a downward revision in production target are likely to have played spoilsports in the to-be-reported quarter.
Earnings Whispers for Peers
Canoo Inc. (GOEV - Free Report) is scheduled to post third-quarter earnings on Nov 14. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share is pegged at 12 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
GOEV surpassed earnings estimates in all of the trailing four quarters, the average surprise being 18.77%.
XPeng Inc. (XPEV - Free Report) is scheduled to post third-quarter earnings on Nov 8. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share is pegged at 72 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).
XPEV surpassed earnings estimates in two of the trailing four quarters and missed twice, the average negative surprise being 11.91%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.