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Nikola (NKLA) earnings Q3 2022

Nikola Motor Firm

Supply: Nikola Motor Firm

Electrical heavy truck maker Nikola stated that it produced 75 vans within the third quarter, and delivered 63 to sellers earlier than quarter-end, producing sufficient income to beat Wall Road’s expectations.

The information was included in Nikola’s third-quarter earnings report, launched on Thursday morning. Listed below are the important thing numbers, in contrast with Refinitiv consenus estimates:

  • Adjusted loss per share: 28 cents vs. 39 cents anticipated
  • Income: $24.2 million vs. $22.1 million anticipated

Shares of Nikola gained 3% in premarket buying and selling.

CEO Michael Lohscheller stated that Nikola made “vital developments” in constructing out a hydrogen refueling community forward of the deliberate launch of its fuel-cell-powered vans subsequent 12 months. The corporate stated final month that it is working to have entry to as much as 300 metric tons of hydrogen gasoline per day, because it goals to have 60 refueling stations up and operating by 2026.

Nikola stated Thursday that it had about $404 million in money available as of the top of the quarter, down from about $587 million as of June 30. The corporate stated that whole included $100.5 million raised through an “at-the-market” inventory providing.

Nikola filed a registration assertion in August that enables it to raise a total of $400 million through gross sales of latest inventory sometimes.

That is story is growing. Please test again for updates.

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