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Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price. Sign up for free newsletters and get more CNBC delivered to your inbox. PSNY Earnings Dates, Upcoming and Historical (Polestar Automotive) Michael Bloom. Total Polestar Automotive Holding Uk earnings for the quarter were -$262.44 million.In the same quarter last year, Polestar Automotive Holding Uk's earnings per share (EPS) was $2.41. Polestar Automotive Holding Uk Plc A (PSNY). Polestar's (NASDAQ: PSNY) position as one of two global, pure electric vehicle makers was solidified with a strong Q3 earnings report that featured skyrocketing revenue and gross profit figures . The stock is taking off. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Earnings reports almost always include EPS and Revenue results. According to a recent revenue report, EV automaker Polestar brought in over $1 billion in revenue in the first half of 2022. Polestar is headquartered in Gothenburg, Sweden, and its vehicles arecurrentlyavailable and on the road in markets across Europe, North America,Chinaand Asia Pacific. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Online accessibility with expanding retail presences across existing and new markets. The revised post corrects the revenue figures from thousand to millions. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Polestar expects the effects from product and market mix to continue alongside foreign exchange and input cost inflation. The below table summarises key financial results for the quarter ended December 31, 2022. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. Polestar Automotive reported Q3 revenue of $435.4 million, up 104% year-over-year. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Polestar 2 launched in 2019 as the electric performance fastback with avant-garde Scandinavian design and up to 350 kW. Create your Watchlist to save your favorite quotes on Nasdaq.com. Investor Relations[emailprotected], Jonathan Goodman Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe. Despite the operating loss, Polestar was able to report a net profit of $299.4 million, or 14 cents per share, thanks to an accounting credit related to the revaluation of future share payouts. Malmqvist said that Polestar still expects to deliver 50,000 vehicles in 2022, generating about $2.4 billion in revenue for the full year, both in line with its prior guidance. Earnings for Polestar (PSNY) Earnings in 2022 (TTM): -$0.46 B According to Polestar's latest financial reports the company's current earnings (TTM) are -$0.46 B.In 2021 the company made an earning of -$1.01 B a decrease over its 2020 earnings that were of -$0.48 B.The earnings displayed on this page is the company's Pretax Income. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. accrued expenses - related parties, Preliminary Unaudited Condensed Consolidated Statement of Cash Flows, Adjustments to reconcile Net loss to net cash flows, Change in operating assets and liabilities, Additions to property, plant and equipment, Principal repayments of short-term borrowings, Principal repayments of lease liabilities, Proceeds from the issuance of share capital and Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production, causing them to miss production or sales targets. Non-GAAP financial measures include adjusted operating loss, adjusted EBITDA, adjusted net loss, and free cash flow. Get this delivered to your inbox, and more info about our products and services. Do Not Sell My Personal Data/Privacy Policy. In addition, we maintained strong momentum in our global order take and expect to deliver 50,000 cars to our customers this year, meeting our 2022 sales guidance. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers. Here's a quick guide forhow to read an earnings report. The below table summarises key financial results for the year ended December 31, 2022. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. - including external vehicles with The below table summarises key operational results as of June 30, 2022 and June 30, 2021. Hertz initially offered Tesla and Polestar EVs, ordering 100,000 units from Tesla at the end of 2021 and 65,000 from Polestar. Polestar meets global sales target of approximately 29,000 cars, Polestar dedicates team to Polestar 0 project, Polestar releases downloadable performance software upgrade for Polestar 2, Polestar calls for transparency and accelerating the shift to electric mobility at COP26, Polestar signs agreement to be publicly listed through combination with Gores Guggenheim, Polestar strengthens management team and expands engineering capabilities, Polestar receives prestigious design awards, Polestar raises USD 550 million from new investors, Polestar 2 wins Best of Best at 2021 Red Dot awards, Polestar reduced the greenhouse gas emissions per sold car by 6%. Polestar 3 launched in late 2022 as the SUV for the electric age a large high-performance SUV that delivers sports car dynamics with a low stance and spacious interior. Entering text into the input field will update the search result below, Polestar Automotive Holding UK PLC (PSNY). Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026. Earnings report for Polestar Automotive Holding UK PLC [PSNY] Revenue increased USD 506.5 million, or 95%, mainly driven by an increase in Polestar 2 vehicle sales with continued commercial expansion across markets. Polestar Automotive Holding UK (PSNY) Earnings Date & Reports 523 Followers Earnings Data Report Date Nov 10, 2023 Not Confirmed Period Ending 2023 (Q3) Consensus EPS Forecast Last Year's EPS -$0.14 Same Quarter Last Year Analyst Consensus Hold Based on 2 Analysts Ratings Polestar Automotive Holding UK (PSNY) Earnings, Revenues Date & History Polestar Automotive Holding UK PLC (PSNY) Stock Price, News, Quote & History - Yahoo Finance U.S. markets open in 3 hours 51 minutes Polestar Automotive Holding UK PLC (PSNY) NasdaqGM -. Zacks earnings numbers are reported on a BNRI (Before Non Recurring Items) basis and include stock option expenses where possible. The unaudited financial and operational information published in this press release is preliminary and subject to potential adjustments. Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. Vehicle deliveries will be weighted towards the fourth quarter, following disruptions from COVID-19 in China. In February, Polestar signed up eight additional sustainability partners to the ambitious Polestar 0 project to create a truly climate-neutral car by 2030 bringing the total to 24, as well as initiated a collaboration with Rivian on the Pathway Report in response to the climate crisis. "I would like to reiterate: Polestar is a real car company," CEO Thomas Ingenlath said during the earnings call. Got a confidential news tip? In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of the Polestar Precept the manifesto concept car Polestar released in 2020 that showcases the brands future vision in terms of design, technology, and sustainability. accrued income related parties, Accumulated deficit & Foreign currency translation In some cases, you can identify forward-looking statements by terminology such as may, should, expect, intend, will, estimate, anticipate, believe, predict, potential, forecast, plan, seek, future, propose or continue, or the negatives of these terms or variations of them or similar terminology. expense, Preliminary Unaudited Condensed Consolidated Statement of Financial Position, Trade receivables external and trade receivables and Global volumes increased 22,814 to 51,491 cars in 2022, an increase of 80% year on year. Thomas Ingenlath, Polestar CEO, comments: We made important progress in the first half of 2022 as we doubled revenues and volume, and successfully listed on the Nasdaq stock exchange in New York. Polestar expects to deliver on its full-year target of 50,000 cars. Trading on margin increases the financial risks. These quarterly earnings reports give. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Transferred vehicles for demonstration and commercial purposes are owned by Polestar and included in Inventory. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030. In March 2022, Polestar revealed its second concept car, an electric performance roadster whichbuilds on the design, technology and sustainability ambitions laid out by Precept and showcases the brands vision for future sports cars. The majority of that increase will come from an updated Polestar 2 EV, according to Ingenlath. In support of Polestars working capital needs, over the last three months, Polestar repaid two existing and entered into two new 12-month unsecured working capital loan agreements with two banks in China, totalling approximately USD 200 million. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar management will hold a live audio webcast today, November 11, 2022 at 08:00 EDT (14:00 CET) to discuss the Companys results and outlook. Fusion Mediaandany provider of the data contained in this websitewill not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. Sales of vehicles increased by $220.43M, or 108%, from $204.87M for the three months ended September 30, 2021 to $425.3M for the three months ended September 30, 2022. Polestars Annual Report on Form 20-F is expected to be filed with the, Polestars 2022 Sustainability Report is expected to be published in, Polestar expects to post its unaudited financial results for the quarter ended. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. What Is an Earnings Report? Read our earnings report guide before you consider the forecast information when making investment decisions. All Rights Reserved. The forecasts range from a . On Invalid Date, . Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. Gross profit increased USD 17.6 million, or 49%, as the result of higher sales of Polestar 2, partially offset by product and market mix. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. CEO Thomas Ingenlath described the company's 2022 performance as the groundwork for a "different phase" in the automaker's growth as it aims to increase deliveries by nearly 60% to approximately 80,000 cars. Data Provider:Zacks Investment Research. Adjusted EBITDA is calculated as listing expense, fair value change of earn-out rights, fair value change of Class C Shares, interest income, interest expense, income tax expense, depreciation, and amortization, subtracted from net loss. Published Thu, Apr 27 20238:45 AM EDT. Represents total volumes of new vehicles delivered, including external sales with recognition of revenue at time of delivery, external sales with repurchase commitments and internal sales of vehicles transferred for demonstration and commercial purposes as well as vehicles transferred to Polestar employees at time of registration. Polestar has added six new markets since the start of 2022, including United Arab Emirates, Kuwait, Hong Kong, Ireland, Spain and Portugal. For the avoidance of doubt, the preliminary unaudited operational and financial information published in this press release should not be considered a substitute for the financial information to be filed with the SEC in Polestars Annual Report on Form 20-F for the year ended December 31, 2022. Unaudited Condensed Consolidated Statement of Loss and Comprehensive Loss, (in thousands of U.S. dollars except per share data and unless otherwise stated), Consolidated Statement of Comprehensive Loss, Unaudited Condensed Consolidated Statement of Financial Position, (in thousands of U.S. dollars unless otherwise stated), Unaudited Condensed Consolidated Statement of Cash Flows, Polestar reports revenue of USD 1.0 billion, up 95%, for first half of 2022, Stay up to date on the latest investor news, Selling, general and administrative expenses, - including external vehicles with repurchase obligations. Analyze the earnings history of Polestar Automotive using advanced sorting and filters. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. This could result in differences from the unaudited operational and financial information published herein. Polestar believes non-GAAP financial measures are helpful to investors as they provide useful perspective on underlying business trends and assist in period on period comparisons. Here are the key numbers from Polestar's third-quarter earnings report, its first as a public company following its merger with a special-purpose acquisition company in June. Polestar reports results for the nine months ended September 30, 2022 The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. Shares of NASDAQ PSNY opened at $3.83 on Monday. Volvo Cars today reports a 7 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.3 bn and an EBIT margin of 6.6 per cent for the first quarter of 2023. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. The below table summarises key preliminary operational results as of and for the year ended December 31, 2022. In 2023, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, led by strong Polestar 2 sales, and later in the year the first deliveries of Polestar 3.. Here are the key numbers from Polestar's third-quarter earnings report, its first as a public company following its merger with a special-purpose acquisition company in June. At the time of its public debut in late June, Polestar was already in production and had more than 55,000 of its vehicles on the road around the world. Polestarhasproducedtwo electric performance cars. Got a confidential news tip? Hertz made plans to buy 175,000 EVs from GM in September 2022. We want to hear from you. Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (Polestar) is a Swedish premium electric vehicle manufacturer. on June 23, 2022. PSNY Analysts Price Targets Currently no data available. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The below table summarises key financial results for the six months ended June 30, 2022 and June 30, 2021. During the period, Polestar increased its global presence to 23 markets, up from 19 at the end of 2021, putting the company on track to meet its target of 30 markets in aggregate by the end of. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. GOTHENBURG, SWEDEN NOVEMBER 11, 2022. We plan to launch three new models, one per year to 2024. Polestar Automotive Holding UK PLC (PSNY) Is Worth Looking Despite A Polestar reports results for the nine months ended September 30, 2022 GOTHENBURG, SWEDEN - NOVEMBER 11, 2022. Research and development expenses decreased USD 8.1 million, or 8%, due to lower amortisation related to Polestar 1, partially offset by increased spend on future vehicles and battery electric technologies, including the Polestar Precept and the P10 powertrain. The live webcast will be available at https://edge.media-server.com/mmc/p/gp4rk9mk. Polestar increased its global presence from 10 to 19 markets in . They issued an "equal weight" rating and a $7.00 target price on the stock. Represents the markets in which Polestar operates. The company expects to deliver 50,000 vehicles this year. Please disable your ad-blocker and refresh. Bojana Flint *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. In some cases, you can identify forward-looking statements by terminology such as may, should, expect, intend, will, estimate, anticipate, believe, predict, potential, forecast, "outlook," "guidance", plan, seek, future, propose or continue, or the negatives of these terms or variations of them or similar terminology. A reconciliation between non-GAAP financial measures and the most comparable GAAP performance measures is provided below. Polestar Automotive Holding Uk (NASDAQ: PSNY) reported Q4 2022 earnings per share (EPS) of -$0.01, up 100.41% year over year. Polestar went public via a merger with a special purpose acquisition company in June. PSNY Stock Soars After Polestar Reports Q3 Earnings . Foundedby Volvo Car AB (publ.) The company delivered on its global sales target of 29,000 vehicles in 2021, representing year-on-year growth exceeding 185%. Revenue increased USD 1,124.7 million, or 84%, mainly driven by higher Polestar 2 vehicle sales with continued commercial expansion across markets. Polestar reports $1 billion revenue in 1H 2022, may deliver 50k EVs But Ingenlath. Swedish electric-vehicle maker Polestar said Friday that its third-quarter operating loss narrowed from a year ago as revenue more than doubled, and it confirmed that it still expects to deliver 50,000 vehicles in 2022. These symbols will be available throughout the site during your session. Recent developments design, innovation, sustainability. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. See Appendix B for details and a reconciliation of adjusted metrics to the nearest GAAP measure. Polestar Automotive Holding UK has a 1 year low of $3.14 and a 1 year high of $13.36. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, reports its global volumes for the first quarter of 2023. Polestar Automotive Holding UK PLC (PSNY) Earnings Report The company showed solid growth when it. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. The last reported earnings were for reported on March 2, 2023 for Q4. Thursday morning, Polestar Automotive Holding UK. Represents Polestar retail and handover locations, including Polestar Spaces, Polestar Destinations and Polestar Test Drive Centers. Polestar Automotive Holding UK PLC (PSNY) - Yahoo Finance Global market for premium luxury BEV/PHEV vehicles in which we operate is expected to grow +29% CAGR 2020-2025E. For the year as a whole, the Company expects gross margin to be broadly in line with 2022, with volume and product mix supporting margin progression later in the year. The firm's 50-day moving average is $4.08 and its 200-day . (together with its subsidiaries, Volvo Cars) and Zhejiang Geely Holding Group Co., Ltd (Geely),in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. Since. Design cues first seen on Polestars concept cars are brought to production in the fastest Polestar production car to date. Polestar plans to release three more electric performance vehicles through to 2026. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Thursday's biggest analyst calls on Wall Street - CNBC Adjusted net loss is calculated as net loss, adjusted to exclude listing expense, fair value change of earn-out rights, and fair value change of Class C Shares. period, Cash and cash equivalents at end of period. But supply-chain disruptions are still an issue, and exchange-rate pressures will likely continue into 2023. Statement Regarding Preliminary Unaudited Financial and Operational Results. 2023, Nasdaq, Inc. All Rights Reserved. Swedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups. With no legacy, our focus is solely on the technologies of the future. Its adjusted operating loss narrowed by 8% to $914 million, while its adjusted earnings before interest and taxes, depreciation and amortizationincreased 4.8% to $759 million. The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Get this delivered to your inbox, and more info about our products and services. Selling, general and administrative expenses were kept flat due to active cost management. Polestar reports results for the nine months ended September 30, 2022, Stay up to date on the latest investor news, https://edge.media-server.com/mmc/p/dyei2864. Polestar went public via a merger with a special purpose acquisition company in June. Head of Investor Relations[emailprotected], Tanya Ridd This measure is reviewed by management and is relevant measure for understanding the underlying operating results and trends of the business prior to the impact of any adjusting items. The Actual Revenue was $435.4M, which beat the estimate of $0K. In March 2022, Polestar revealed its second concept car, an electric performance roadster which builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brands vision for future sports cars. PSNY shares gained +5.9% the day following the earnings announcement to close at 5.35. Polestar CEO Thomas Ingenlath said the company will use the $890 million raised from the deal to fund its three-year plan to build new vehicles and eventually become profitable. Polestar stock jumps as earnings, production forecast delight investors "We are putting cars on the road today and we are delivering on our ambitious growth plan.". The upcoming earnings date is derived from an algorithm based on a company's historical reporting.
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