Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    63,703.05
    +662.79 (+1.05%)
     

  • CMC Crypto 200

    1,372.31
    +59.69 (+4.54%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • Dow

    37,986.40
    +211.02 (+0.56%)
     

  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     

  • Gold

    2,406.70
    +8.70 (+0.36%)
     

  • Crude Oil

    83.24
    +0.51 (+0.62%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Arcimoto (FUV) Q2 Loss Wider Than Expected, Revenues Up Y/Y

Zacks Equity Research
·4-min read

Arcimoto FUV incurred second-quarter 2022 loss of 39 cents per share, wider than the Zacks Consensus Estimate of a loss of 33 cents. Also, the figure was wider than the prior-year quarter’s loss of 23 cents a share.

Revenues skyrocketed 109% year over year to $1.5 million, surpassing the Zacks Consensus Estimate of $1 million.

The company reported a gross loss of $4.6 million in the quarter, wider than the year-ago loss figure of $2.5 million.

Arcimoto, Inc. Price, Consensus and EPS Surprise

Arcimoto, Inc. Price, Consensus and EPS Surprise
Arcimoto, Inc. Price, Consensus and EPS Surprise

Arcimoto, Inc. price-consensus-eps-surprise-chart | Arcimoto, Inc. Quote

Segmental Highlights

Arcimoto has three reportable segments, namely fun utility vehicles (FUV), rental and TMW.

The FUV segment consists of the sale of electric vehicle product lines while the rental segment‘s operations are related to generating revenues from the short-term rental of its electric vehicles via various channels or networks. The TMW segment engages in the design, production, sales and installation of a bolt-on kit that converts a two-wheeled motorcycle into a tilting three-wheeled motorcycle.

The FUV segment reported revenues of $1.01 million in the quarter, up from $0.67 million a year ago. The operating loss came at $14.3 million, deteriorating from $8.9 million incurred in the year-ago period.

The rental segment reported revenues of $53,818, increasing from $16,618. The segment incurred an operating loss of $0.51 million against a profit of $16,617 in the year-ago quarter.

Revenues for the TMW segment were $0.43 million, up from $0.03 million a year ago. The operating loss was $0.31 million, narrower from $0.42 million.

Financial Highlights

Total inventory amounted to $11.4 million as of Jun 30, 2022, increasing from $7.8 million as of Dec 31, 2021.

Research and development expenses shot up to $3.7 million from $2.6 million a year ago. General and administrative expenses went up to $3.8 million from $2.6 million. Total operating expenses during the quarter was $10 million, jumping from $6.8 million in the comparable quarter of 2021.

Cash and cash equivalents came to $5 million as of quaretr-end, falling significantly from $16 million in the year-ago quarter.

Zacks Rank & Other Key Picks

FUV carries a Zacks Rank #2 (Buy), currently.

Some other top-ranked players in the auto space are Harley-Davidson HOG, Genuine Parts Company GPC and Tesla Inc. TSLA, each carrying a Zacks Rank #2, currently. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Harley-Davidson has an expected earnings growth rate of 6.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 8.5% upward in the past 30 days.

Harley-Davidson’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one. HOG pulled off a trailing four-quarter earnings surprise of 49.52%, on average. The stock has risen 0.8% in the past year.

Genuine Parts has an expected earnings growth rate of 15.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 1.5% upward in the past 30 days.

Genuine Parts’ earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. GPC pulled off a trailing four-quarter earnings surprise of 11.03%, on average. The stock has risen 28.2% over the past year.

Tesla has an expected earnings growth rate of 74.6% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 5.4% upward in the past 30 days.

Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 32.17%, on average. The stock has risen 39.4% in the past year.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Genuine Parts Company (GPC) : Free Stock Analysis Report
 
HarleyDavidson, Inc. (HOG) : Free Stock Analysis Report
 
Tesla, Inc. (TSLA) : Free Stock Analysis Report
 
Arcimoto, Inc. (FUV) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research