Fisker Withdraws Financial Gudiance. It's Not a Shock. -- Barrons.com

Dow Jones04-04

Al Root

Struggling electric-vehicle start-up Fisker late Wednesday suspended its financial guidance. That wasn't a surprise to investors.

In late February, Fisker said it expected to deliver 20,000 to 22,000 units in 2024. In 2023, Fisker delivered just under 5,000 vehicles.

The expectations for 2024 are some of the numbers investors should no longer rely on.

Things have been difficult for the start-up lately. Fisker paused production of its Ocean SUV in mid-March while looking for additional financing. Magna International builds the Ocean SUV at its manufacturing plant in Austria.

Fisker is continuing to look at strategic alternatives. "Alternatives may include in or out of court restructurings, capital markets transactions ...repurchases, redemptions, exchanges or other refinancings of the Company's existing debt, the potential issuance of equity securities, the potential sale of assets and businesses and/or other strategic transactions and/or other measures," read part of the filing Wednesday with the Securities and Exchange Commission.

Fisker shares were delisted from the New York Stock Exchange this past week. They are trading for about 2 cents a share in over-the-counter markets. Fisker is trading under stock symbol "FSRN."

Write to Al Root at allen.root@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 04, 2024 04:41 ET (08:41 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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That wasn't a surprise to investors. \n\n\n     In late February, Fisker said it expected to ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4124","symbol_name":"机动车零配件与设备","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2424350907","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2424350907","pubTimestamp":1712220060,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Struggling electric-vehicle start-up Fisker late Wednesday suspended its financial guidance. 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