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Electrameccanica Vehicles Third Quarter 2022 Earnings: Misses Expectations

Electrameccanica Vehicles (NASDAQ:SOLO) Third Quarter 2022 Results

Key Financial Results

  • Net loss: US$21.5m (loss widened by 68% from 3Q 2021).

  • US$0.18 loss per share (further deteriorated from US$0.11 loss in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Electrameccanica Vehicles Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 85% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Auto industry in the US.

Performance of the American Auto industry.

The company's shares are up 9.4% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Electrameccanica Vehicles has 2 warning signs we think you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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