Earnings

Nikola lowers revenue and delivery expectations for 2021

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Nikola Motor Company

Source: Nikola Motor Company

Electric vehicle start-up Nikola on Tuesday reported a narrower-than-expected loss for the second quarter but lowered its delivery and revenue expectations for the year due to supply-chain issues.

Here’s how Nikola did compared with what Wall Street expected based on average estimates compiled by Refinitiv.

  • Adjusted results: a loss of 20 cents per share vs a loss of 29 cents a share
  • Revenue: $0 vs $0

CEO Mark Russell told investors during the earnings call that the company’s expected production during the second half of the year will be limited due to supply disruptions, including an ongoing shortage of semiconductor chips.

Nikola cut its…



Source cnbc.com

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