Fisker (FSR.US) rose sharply on Monday after the EV maker confirmed that the deliveries of SUV Ocean models will be launched in spring. Company also upholds previous production guidance as it expects to manufacture 42,400 vehicles in 2023. Upbeat outlook overshadowed weak financial results, which came in line with its competitors - Lucid (Lcid.us) and Nikola (nkla.us) which also turned out to be a disappointment.
-
Revenue: $306k vs expected$ 2.5 million
-
EPS: $0.54 loss ($170.1 million) vs expected $0.42 loss
-
The company in 2022 spent less than expected ($702 million compared to market estimates of $715 -$790 million) and said that the number of reservations for the Ocean models reached 65,000 units, above earlier projections of 62,000;
-
Fisker pointed out that so far 56 cars have been built by the Magna International production partner in Austria, and 15 of them were completed before the end of the year and are currently being tested as part of improving the production process;
-
The company is still testing additional functions and is waiting for approvals from the USA, Canada and Europe- the company estimates that next month the regulators will issue a decision, and production will start in Q2 of 2023;
-
Company made significant progress regarding its second cheaper model called 'Pear', which production is expected to begin in 2024. The number of reservations has also increased compared to November by over 10%.
-
Fisker Ocean is expected to have the longest range among all SUVs priced below $70,000. Current prices for the basic version oscillate from $37,499 to $50,000. Lower prices compared to the competition may attract additional customers especially taking into account ongoing inflationary pressures;
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appFisker (FSR.US) stock price has been moving south since 2021. The key short -term resistance is located around $8.35 and is marked by the previous price reactions. Break above this level would be a first sign that buyers are regaining control. Source: xstation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
