Lucid二季度业绩不及预期并推迟中型车型上市

Lucid Group (LCID) earnings Q2 2026
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Autos
Lucid begins 'operational reset' as CEO says EV maker will delay midsize vehicle
Published Tue, Aug 4 2026
4:05 PM EDT
Updated Tue, Aug 4 2026
6:47 PM EDT
Michael Wayland
@MikeWayland
WATCH LIVE
Key Points
Lucid missed second-quarter expectations, reporting revenue of $405 million and a loss of $3.30 a share.
The EV maker said it's starting an "operational reset" that includes identifying $1.4 billion in cash flow improvement opportunities this year.
New CEO Silvio Napoli also said the company is delaying the launch of its midsize vehicle.
In this article
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The Lucid Gravity is displayed during the 2023 Los Angeles Auto Show at the Los Angeles Convention Center on Nov. 24, 2023.
Josh Lefkowitz | Getty Images News | Getty Images
Lucid Group
missed Wall Street's second-quarter expectations as the electric vehicle manufacturer conducts an "operational reset" amid leadership changes and cost-cutting efforts.
Those plans include beginning non-prototype robotaxi production early next year and delaying its
upcoming midsize vehicle
that was expected at the end of this year until "most likely" the second half of 2027, Lucid CEO Silvio Napoli told CNBC on Tuesday.
"We're not going to make the mistake of the past where products, great cars, were in fact tainted by launching before things were ready," he said. "I think it's going to be '27. ... Most likely the second half of '27."
Shares of Lucid fell roughly 8% during after-hours trading.
Here's how the company performed in the second quarter compared with average estimates compiled by LSEG:
Loss per share:
$3.30 vs. a loss of $2.46 expected
Revenue:
$405 million vs. $416 million expected
'Transformation program'
The company did not release updated 2026 guidance. Napoli, who started leading the automaker in June, previously
suspended production expectations
amid a reevaluation of Lucid's business operations.
He told CNBC the company is "not ready" to give such guidance as Lucid resets investor expectations and has a new, incoming leadership team. Lucid also
reduced production
at its U.S. plant in Arizona from two shifts to one in June.
"I want it to be anchored in solid data, and most of all, I want a guidance that I'm confident Lucid will be able to deliver on and possibly even do better than that. This takes time," he said. "I wanted to make sure that we align the reality with consensus, which is today based on outdated business model."
Napoli did say the company's second-half production is expected to be lower than Wall Street's consensus and the first half of the year, while deliveries are expected to be higher than the first half of the year.
The company also released broad details of an "operational reset" or "transformation program" that includes identifying $1.4 billion in cash flow improvement opportunities this year.
They include approximately $600 million to $800 million in vehicle inventory, $500 million in capital expenditures, and $200 million in operating expenses, the company said.
In addition to the cost-cutting, Lucid said the plan will broadly focus on three key areas: "cash and cost," "customer and quality" and "culture and team."
More specifically, the company said its efforts will focus on its
robotaxi program
with
Uber
and Nuro; a factory that's under construction in Saudi Arabia; and its upcoming midsize vehicle. Lucid called the robotaxi initiative a "top priority."
Napoli said the company's robotaxi plans continue, including the production of prototype vehicles based on the
company's Lucid Gravity SUV
instead of its midsize vehicle. He said the company expects to deliver about 100 of the preproduction vehicles by the end of the year to its partners, with actual vehicle production in the beginning of next year.
"The robotaxi opportunity is huge, and it's an industry that is about to start an exponential growth," he told CNBC. "Not many companies are ready for it. We are a software-defined vehicle company, so we are well positioned."
Lucid, Rivian and Tesla stocks
Lucid, which reported $3 billion in total liquidity to end the second quarter, said the actions and its current financials are "expected to provide sufficient liquidity runway well into 2027."
"Silvio and his leadership team are transforming the company, and the Board stands firmly behind their actions," Lucid Chairman Turqi Alnowaiser said in a release.
The missed results and comments come weeks after
Lucid denied an online report
that it was considering bankruptcy or taking the company private. The report caused shares of the company to plummet. The stock recovered some of those losses, but remains off nearly 30% in 2026.
Napoli adamantly denied such plans on Tuesday to CNBC, as he did when they were reported.
"I wholeheartedly reinforce the denial," he said. "We are here to stay. We are here. We have a plan. We have a board and a majority investor that will help us to go through what is admittedly a moment where we are doing many things at the same time."
Its largest shareholder is Saudi Arabia's sovereign wealth fund, the Public Investment Fund.
Second-quarter results
Lucid's second-quarter results included a net loss of more than $1 billion compared with a loss of $539.4 million during the second quarter of last year. The company reported an adjusted loss of $901.1 million, or $3.30 per share, compared with a loss of $632.1 million, or $2.80 per share, a year earlier.
The losses were on production of 4,774 vehicles, up 24% year over year, and deliveries of 3,953 vehicles, up 19%, during the second quarter. The company currently offers the Air sedan and Gravity SUV that start at roughly $70,000 and $80,000, respectively.
Napoli,
who formerly led
an escalator and elevator manufacturer, replaced interim
CEO Marc Winterhoff
on June 1. Winterhoff remained with the company until late June as Napoli put together a new leadership team.
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