Nikola TRE FCEV2
Electrical truck maker Nikola mentioned on Friday that its CEO, Michael Lohscheller, will step down efficient instantly attributable to a « household well being matter. » Nikola’s present board chair, former Normal Motors vice chairman Steve Girsky, will take over as CEO.
Lohscheller will stay in an advisory capability till the top of September to help the transition, Nikola mentioned.
The information got here alongside Nikola’s second-quarter earnings report. Listed below are the important thing numbers, in contrast with Refinitiv consensus estimates:
- Loss per share: 20 cents vs. 22 cents
- Income: $15.36 million vs. $15.4 million
Nikola’s web loss for the quarter was $217.8 million, or 31 cents per share. That determine consists of $77.8 million, or 11 cents per share, associated to discontinued operations together with the closure of the previous Romeo Energy battery-pack manufacturing unit in California. Nikola acquired Romeo Energy final 12 months.
A 12 months in the past, Nikola misplaced $173 million, or 41 cents per share. Other than the discontinued operations, Nikola had no changes within the second quarter of 2023; on an adjusted foundation, it misplaced 25 cents per share within the year-ago quarter.
Income fell to $15.4 million from $18.1 million within the second quarter of 2022.
Shares of Nikola had been down about 5% in premarket buying and selling Friday.
The corporate raised $233.2 million in money in the course of the second quarter through gross sales of inventory and a few bodily property, and took steps to cut back its money consumption going ahead. It had $226.7 million in money available as of June 30, up from $121.1 million as of March 31. The corporate on Aug. 3 received approval from shareholders to situation new inventory, and is anticipated to lift extra money later within the 12 months.
It delivered 45 of its battery-electric semitrucks to sellers in the course of the second quarter. Its sellers bought 66 of the battery-electric vehicles to finish clients in the course of the interval, the corporate’s greatest quarterly retail consequence but.
Nikola mentioned in Might that it could briefly droop manufacturing of its battery-electric truck whereas it reconfigured the road to construct each the battery-electric and fuel-cell vehicles.
Manufacturing of Nikola’s newest mannequin, a longer-range fuel-cell powered model of its Tre semitruck, started July 31; deliveries are anticipated to start in September.
Nikola presently has orders for a complete of 202 fuel-cell vehicles for 18 fleet clients, it mentioned earlier this week.