Nikola, Fisker To Report Late As Chip Shortage Hits Auto Sector

Nikola (NKLA) and Fisker (FSR) tee up to report for the fourth quarter, continuing a busy week for earnings and other announcement from EV companies. Nikola stock fell while Fisker stock topped a buy point.


Nikola Earnings

Estimates: Analysts expect a loss of 23 cents a share on nominal revenue. Thus far, Nikola’s modest sales have come from solar installations and not from electric vehicles.

Results: Check back later.

Nikola’s lineup includes a battery-electric semi-truck still in the R&D phase. On Tuesday, it announced two fuel-cell or hydrogen-electric vehicles with a claimed range of 500-900 miles. It expects road-testing to start next year before a 2023 launch.

But in December, Nikola ended a deal with Republic Services (RSG) to develop electric garbage trucks. That came after General Motors (GM) scaled back a proposed EV partnership, following Nikola founder Trevor Milton’s exit amid accusations of fraud and sexual assault.

Stock: Shares fell 3% to 20.52 in Thursday’s stock market trading. Nikola stock is back above the 50-day line after undercutting that key area Tuesday but continues to trend lower after a drumbeat of bad news.

Chinese EV maker Li Auto (LI), which reported a surprise profit early Thursday, fell 10% as Tesla (TSLA) slumped again after it halted Model 3 production amid the global chip shortage. Electric powertrain maker Hyliion (HYLN), which reported Tuesday, lost 6%.

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Fisker Earnings Report

Estimates: Analysts see a loss of 5 cents a share on zero revenue.

Results: Check back later.

Fisker’s all-electric, luxury Ocean SUV, which is being developed with Magna International (MGA), is due at the end of 2022.

On Wednesday, Fisker announced a second EV that it will develop with Apple (AAPL) supplier Foxconn, promising a “breakthrough” vehicle in short order.

Stock: Shares popped 7% to seize a 23.73 buy point off a confirmed cup base, according to MarketSmith chart analysis. Fisker stock surged 39% Wednesday on its Foxconn partnership.

The earnings report is the first since Fisker stock went public on Oct. 30 via a reverse merger with Spartan Energy.

On Feb. 12, Morgan Stanley initiated Fisker stock at overweight citing its “asset-light, design-centered EV business model that improves time to market and break-even points.”

Find Aparna Narayanan on Twitter at @IBD_Aparna.


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