Polestar Q2/H1业绩大幅不及预期，收入远低于共识、毛利率转负、全年销量指引下修

Polestar ( PSNY ) shares are expected to set an all-time low on Thursday with a double-digit loss in premarket trading attributed to downbeat second-quarter results and a lackluster outlook for the year. Regulatory restrictions in the U.S. against vehicles with Chinese components, along with competitive pricing pressures in the electric vehicle space, presented significant financial headwinds for the Swedish automaker. Unable to sell its 2027 model-year vehicles in the U.S. due to a ruling from the Commerce Department’s Bureau of Industry and Security (Polestar is majority-owned by China’s Zhejiang Geely), net sales were down 4% year-over-year to $1.36B, missing expectations by nearly $900M. While sales took a hit from the regulatory environment, Polestar ( PSNY ) slashed its operating costs and was able to trim its net loss to $842M from a loss of $1.2B a year ago. However, on an adjusted basis, Polestar ( PSNY ) reported a gross loss of $116M versus a profit of $20M a year ago. This contributed to a negative adjusted gross margin of 8.5% versus a positive 1.4% in the same quarter last year. The results led the company to adjust its sales outlook for the year, now expected to see sales volume increase by low-to-mid single-digit from low double-digit volume growth, previously amid a “highly competitive and volatile” market environment. Shares are down 10% in Thursday's premarket trading.