Understanding Polestar Automotive's Q1 2024 Financial Results: Earnings Insights and Analysis
Sep 5, 2024 09:46Polestar Automotive's Key Indicators in Earnings Report of Q1 2024
In the latest earnings report released by Polestar Automotive, the following financial data are worthy of attention.
Actual Value | Estimated Value | YoY Change | |
|---|---|---|---|
Revenue | US$574.900M | US$642.774M | -16.10% |
Net Profit | US$-266.986M | - | +12.19% |
EPS | - | -0.177 | - |
Gross Margin | 0.30% | - | +357.50% |
Net Margin | -46.62% | - | -5.07% |
Polestar Automotive Q1 2024 Earnings Call Transcript
Polestar Automotive Q1 2024 Financial Performance
- 2023 global vehicle sales up 6% to 54,600 cars, revenue down 3% due to discounts.
- Gross loss of $415 million in 2023, including a $450 million impairment charge.
Polestar Automotive Q1 2024 Business Progress
- Focused on selling Polestar 2 and preparing for Polestar 3 and 4 launches.
- Expanding into new markets in 2025 including France, Brazil, and others.
Polestar Automotive Q1 2024 Opportunity
- Strategic expansion and new SUV models expected to drive future sales.
- Revamped retail distribution model aimed at increasing car volume and revenue.
Polestar Automotive Q1 2024 Risk
- Financial stability threatened by import duties and pricing pressures in global markets.
- Uncertainties from import duties before new North American and European production.
Polestar Automotive's Forecast By Third Party Analyst Rating of Q1 2024
- Third Party Analyst rating of Polestar Automotive: Hold
- Polestar Automotive Target Price: US$1.56
- Polestar Automotive EPS Forecast: US$-0.150
- Polestar Automotive Revenue Forecast: US$791.500M
- Polestar Automotive EBIT Forecast: US$-254.333M
For more information on what the analyst ratings may mean, visit https://pro.benzinga.com/blog/what-do-stock-analyst-ratings-mean/ (Benzinga is not affiliated with Futu Securities International (Hong Kong) Limited, or its affiliates.)
Polestar Automotive's Institutional Ownership & Shareholders of Q1 2024
Holder | Shares Held | Shares Held (%) | Change (Shares) | Change (%) |
|---|---|---|---|---|
| Zhejiang Geely Holding Group Co., Ltd. | 897,719,855 | 42.54% | -136,313,133 | -6.46% |
| AMF Fonder AB | 21,971,866 | 1.04% | 17,571,426 | +0.83% |
| Gly Capital Management Limited | 16,785,066 | 0.80% | 0 | +0.00% |
| Swedbank Robur Fonder AB | 11,740,843 | 0.56% | 11,740,843 | +0.56% |
| Alecta Pensionsförsäkring, ömsesidigt | 5,925,000 | 0.28% | 5,925,000 | +0.28% |
| Fourth Swedish National Pension Fund (AP4) | 4,367,686 | 0.21% | 4,367,686 | +0.21% |
| Tredje AP-fonden | 3,929,785 | 0.19% | 3,929,785 | +0.19% |
| JPMorgan Chase & Co, Brokerage and Securities Investments | 2,481,861 | 0.12% | 2,480,531 | +0.12% |
| Saba Capital Management, L.P. | 2,249,600 | 0.11% | -15 | +0.00% |
| State Street Global Advisors | 2,112,145 | 0.10% | 1,142,603 | +0.05% |
The institutional holding data indicates that one of the major shareholders, Zhejiang Geely Holding Group Co., Ltd., has reduced its stake in Polestar Automotive, which might suggest a cautious stance towards the stock. However, the entry or increased holdings by other institutions like AMF Fonder AB and Swedbank Robur Fonder AB reflect a positive outlook on Polestar Automotive. Overall, despite the reduction by a major shareholder, the presence of multiple new and increasing institutional investors could signify continued market confidence in Polestar Automotive.
How to Buy Polestar Automotive Stocks？
Step 1: Opening a Brokerage Account
To start trading stocks, the initial step is to acquire a brokerage account. When choosing an online stock brokerage, there are two critical factors to consider: brokerage offerings and a user-friendly platform. Futubull app would be helpful.
Step 2: Deciding how many shares to buy
To gain initial experience, it's wise to paper trade using a stock market simulator. Alternatively, start with a small investment amount.
Step 3: Buying stocks using the right order type
To master stock buying, it's essential to understand three critical order types: market orders, limit orders, and stop orders.
Step 4: Placing the stock order with your brokerage
Where can I find when companies are scheduled to report their earnings?
On the earnings calendar of Futubull app, there is a list available for you to view the companies that are reporting earnings today.
Where can I find more information about Polestar Automotive's earnings reports?
On the Futubull app, you can find financial data, earnings call summaries, analyst ratings, announcement AI summaries, etc. for each company.
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