Fisker Achieves Milestone: First Quarterly Revenue from Vehicle Sales
August 04, 2023: Fisker, an electric sport utility vehicle (SUV) maker, made a significant breakthrough as it reported its first-ever quarterly revenue from vehicle sales. The company generated $825,000 in revenue during the second quarter, marking a promising start for its deliveries in Europe and the United States.
While celebrating this achievement, it’s essential to acknowledge that Fisker faced a loss of 25 cents per share in the second quarter. However, this loss was smaller than expected, as analysts had predicted a loss of 28 cents per share. This indicates that the company is moving in a positive direction.
Looking ahead, there’s optimism surrounding Fisker’s future financial performance. Analysts expect the company to record an operating profit in the fourth quarter of this year, which could be a crucial turning point for its profitability.
Fisker’s strategic plans for the rest of the year include focusing on production. The company aims to manufacture between 20,000 and 23,000 vehicles in 2023. Although this is a slightly lower target than initially projected, it reflects the company’s determination to meet market demand and ensure sustainable growth.
Investors have shown confidence in Fisker’s potential, with its stock gaining 2.1% in premarket trading, reaching $6.48 per share. This indicates that the market is acknowledging the company’s positive developments and financial progress.
Overall, Fisker’s achievement of quarterly revenue from vehicle sales marks a significant milestone for the company. Despite facing challenges, the company’s performance garners investors’ and analysts’ interest. As Fisker continues to deliver its electric SUVs to customers and enhance its operations, all eyes will be on its future financial results, especially the anticipated operating profit in the fourth quarter.