Automotive tech firm Luminar Q3 revenue beats analyst estimates driven by growth in off-road

Reuters11-14
Automotive tech firm Luminar Q3 revenue beats analyst estimates driven by growth in off-road

Overview

  • Luminar Q3 revenue up 21% yr/yr, beating analyst expectations

  • Adjusted EPS for Q3 beats analyst expectations

  • Luminar is exploring strategic alternatives to improve capital structure and liquidity

Outlook

  • Luminar has suspended its fiscal year 2025 guidance

Result Drivers

  • REVENUE GROWTH - Q3 revenue increased by 21% year-over-year, driven by advancements in off-road, defense, and photonics sectors

  • CAPITAL STRUCTURE - Company is evaluating strategic alternatives to improve capital structure and liquidity, including potential sales or restructuring

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$18.75 mln

$18.07 mln (3 Analysts)

Q3 Adjusted EPS

Beat

-$0.94

-$1.03 (3 Analysts)

Q3 Net Income

-$85.85 mln

Q3 Operating Expenses

$66.58 mln

Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."

  • Wall Street's median 12-month price target for Luminar Technologies Inc is $3.50, about 66.9% above its November 12 closing price of $1.16

Press Release: ID:nBw6xvqGva

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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