Title: Lucid Group, Inc. Q1 2024 Earnings Call Highlights
Lucid Group, Inc. reported a miss on earnings expectations, with reported EPS at $-0.29579 EPS compared to expectations of $-0.25. Additionally, Lucid Group, Inc. is not among the 30 most popular stocks among hedge funds at the end of the third quarter.
Operator: Ladies and gentlemen, welcome to the Lucid Group First Quarter 2024 Earnings Conference Call. Today’s conference is being recorded. Later, we will conduct a question-and-answer session. I would now like to introduce Maynard Um, Senior Director of Investor Relations, to kick off the call.
Maynard Um: Thank you for joining Lucid Group’s first quarter 2024 earnings call. With me today are Peter Rawlinson, our CEO and CTO, and Gagan Dhingra, our Interim CFO and Principal Accounting Officer. Before we begin, I want to highlight that some statements on this call contain forward-looking information subject to federal securities laws. These statements, based on current predictions and expectations, may differ from actual results due to various risks and uncertainties. For more details, please refer to our SEC filings and investor deck available on our website. Now, I’ll hand over the call to Peter Rawlinson.
Peter Rawlinson: Thank you, Maynard, and thank you all for joining us today. In my remarks, I’ll cover our partnership with the PIF, our production and delivery figures, our cost advantage, and our overall momentum, which collectively drive my optimism for our future. Our technology and partnership with the PIF set us apart. In Q1, we secured $1 billion in capital through a private placement with the PIF affiliate, reinforcing our strategic partnership towards achieving Saudi Vision 2030 goals.
