Lordstown Motors Q3 operating loss $154.8M, starts Endurance production, Foxconn to invest up to $170M

NU RIDE INC.

2023-Q3 EPS reported -$13.32 vs consensus -$4.01 ▼ miss (-232.3%)

Operating loss of $154.8M includes $74.9M impairment, $30M litigation accrual, $16.2M NRV charge; adjusted loss $33.8M.
Cash and short-term investments $204M, above internal expectations; target year-end cash $150-165M.
Start of commercial production of Endurance at Foxconn Ohio plant; reaffirmed Q4 delivery start pending certification.
Foxconn agreed to additional investment up to $170M, subject to terms and conditions.
All FMVSS crash testing completed; awaiting EPA/CARB approval; initial batch up to 500 units.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NU RIDE INC. reported financial results for the quarter ended September 30, 2022.

Period: the quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On November 8, 2022, Lordstown Motors Corp. (the “Company”) issued a press release reporting its financial results for the quarter ended September 30,2022.

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Source: SEC EDGAR

accession 0001558370-22-016719

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