Polestar Automotive Holding A (PSNY) Earnings Dates & Reports Polestar reports $1 billion revenue in 1H 2022, may deliver 50k EVs Please disable your ad-blocker and refresh. For the avoidance of doubt, the preliminary unaudited operational and financial information published in this press release should not be considered a substitute for the financial information to be filed with the SEC in Polestars Annual Report on Form 20-F for the year ended December 31, 2022. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Polestar reports results for the nine months ended September 30, 2022 GOTHENBURG, SWEDEN - NOVEMBER 11, 2022. In February, Polestar signed up eight additional sustainability partners to the ambitious Polestar 0 project to create a truly climate-neutral car by 2030 bringing the total to 24, as well as initiated a collaboration with Rivian on the Pathway Report in response to the climate crisis. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. Polestar has produced two electric performance cars. Transformative ambition, including a climate neutral car by 2030. Guidance on revenue, volumes, gross margin and other financial or operating metrics, such as the ones included in the 2023 outlook described in this press release, are forward-looking statements. Thursday morning, Polestar Automotive Holding UK. Our radical approach to transparency is crucial to accelerate the shift to sustainable mobility. Investor Relations | Polestar Polestar Automotive Holding Uk (NASDAQ: PSNY) reported Q4 2022 earnings per share (EPS) of -$0.01, up 100.41% year over year. Polestar Annual Review 2021 Polestar Automotive Holding UK PLC (PSNY) Earnings Report | Seeking Alpha Is PSNY a Buy? GOTHENBURG, SWEDEN 2 March 2023. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 350 kW / 476 hp and 680 Nm. The company issued strong fourth-quarter earnings, reporting a narrower loss than expected and revenue that jumped 84% from a year ago. Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (Polestar) is a Swedish premium electric vehicle manufacturer. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. The last reported earnings were for reported on March 2, 2023 for Q4. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. Polestar reports revenue of USD 1.0 billion, up 95%, for first half of 2022 Polestar Automotive Holding UK PLC ("Polestar" or the "Company," Nasdaq: PSNY), the Swedish electric performance car brand, reports its financial results for the first six months of 2022. Polestar's proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), is expected to close in the first half of 2022. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Head of Investor Relations[emailprotected], Tanya Ridd Polestar Automotive Holding Uk Plc A (PSNY). period, Cash and cash equivalents at end of period. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. The majority of that increase will come from an updated Polestar 2 EV, according to Ingenlath. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. GOTHENBURG, SWEDEN NOVEMBER 11, 2022. For 2023, Polestar expects gross margin be "broadly in line" with the 4.9% it reported for 2022, "with volume and product mix supporting margin progression later in the year.". Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. Polestar 3 launched in late 2022 as the SUV for the electric age a large high-performance SUV that delivers sports car dynamics with a low stance and spacious interior. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific. The company specializes in luxury vehicles. Sales of vehicles increased by $220.43M, or 108%, from $204.87M for the. Its net loss for the year fell to $466 million from more than $1 billion in 2021. That's nearly 100% growth compared to the first half of 2021,. 2023, Nasdaq, Inc. All Rights Reserved. In August 2022, Polestar confirmed plans to put its electric roadster concept into production as Polestar 6, expected to launch in 2026. Polestar Automotive Holding UK PLC's market cap currently stands at around $7.47 billion. Cantor Fitzgerald Initiates Coverage of Polestar Automotive Holding UK Polestar has added six new markets since the start of 2022, including United Arab Emirates, Kuwait, Hong Kong, Ireland, Spain and Portugal. The stock fell more than 5% Wednesday, closing at $5.05 a share. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Selling, general and administrative expenses increased USD 167.9 million, or 60%. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Polestar expects to publish its Q3 2022 financial results on November 11, 2022. Gross profit increased USD 17.6 million, or 49%, as the result of higher sales of Polestar 2, partially offset by product and market mix. Polestar management will hold a live audio webcast today, November 11, 2022 at 08:00 EDT (14:00 CET) to discuss the Companys results and outlook. The stock is taking off. Polestar will release Q123 financial results on May 11, 2023. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Global volumes increased to 21,185 cars in the first six months of 2022, more than doubling deliveries from 9,510 cars in the same period in 2021, an increase of 123%. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. Type a symbol or company name. Polestar Automotive Holding UK PLC (PSNY) Stock Price, News, Quote & History - Yahoo Finance U.S. markets open in 3 hours 51 minutes Polestar Automotive Holding UK PLC (PSNY) NasdaqGM -. The live webcast will be available athttps://edge.media-server.com/mmc/p/dyei2864. Represents Volvo Cars service centres which provide customers access to service points worldwide in support of Polestars international expansion. Press releases | Polestar Polestar Automotive Holding UK PLC (PSNY) - Yahoo Finance Polestar PSNY earnings: Lower operating loss, confirms guidance - CNBC Founded by Volvo Car AB (publ.) A reconciliation between non-GAAP financial measures and the most comparable GAAP performance measures is provided below. But Ingenlath. As of September 30, 2022, Polestar had cash and cash equivalents of $988.26Mas compared to $756.68M as of December 31, 2021. Polestar (Nasdaq: PSNY) will reveal its next car, Polestar 4, at the Shanghai auto show on 18 April 2023. Volvo Cars today reports a 7 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.3 bn and an EBIT margin of 6.6 per cent for the first quarter of 2023. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. Foreign exchange effect on cash and cash equivalents. PolestarAutomotive Holding UK PLC (Nasdaq: PSNY) (Polestar) isa Swedish premium electric vehicle manufacturer. Items that may be subsequently reclassified to the Unaudited Condensed Consolidated Statement of Loss: Exchange rate differences from translation of foreign operations, Other non-current interest-bearing liabilities, Interest-bearing current liabilities - related parties, Adjustments to reconcile Net loss to net cash flows, Change in operating assets and liabilities, Trade receivables, prepaid expenses and other assets, Trade payables, accrued expenses and other liabilities, Additions to property, plant and equipment, Principal repayments of short-term borrowings, Principal repayments of lease liabilities, Proceeds from the issuance of share capital and other contributed capital, Effect of foreign exchange rate changes on cash and cash equivalents, Total revenue of USD 1,041.3 million in the first six months of 2022, up 95% year-over-year, 21,185 cars delivered in the first six months of 2022, compared to 9,510 for the same period in 2021, Cash and cash equivalents of USD 1,381.6 million as of June 30, 2022, up more than 80% since the end of 2021, following successful listing on Nasdaq stock exchange in New York. Fusion Mediaandany provider of the data contained in this websitewill not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. Since going public, shares of Polestar are off about 49%. Hertz initially offered Tesla and Polestar EVs, ordering 100,000 units from Tesla at the end of 2021 and 65,000 from Polestar. Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. "As our cars are produced in China, the majority of our costs are in renminbi, which has strengthened against European currencies, leading to a higher cost of sale," Malmqvist said during the earnings call. Non-GAAP measure. Entering text into the input field will update the search result below, Polestar Automotive Holding UK PLC (PSNY). They issued an "equal weight" rating and a $7.00 target price on the stock. Investor Update, Managements Discussion and Analysis of Financial Conditions and Results of Operations and Unaudited Condensed Consolidated Financial Statements are available on the Polestar investor relations website and will be filed with the SEC. Transferred vehicles for demonstration and commercial purposes are owned by Polestar and included in Inventory. Polestar Automotive Holding UK Limited is estimated to report earnings on 02/24/2023. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Volvo Cars Q1 Results: Stable start to 2023, as company continues Adjusted net loss is calculated as net loss, adjusted to exclude listing expense, fair value change of earn-out rights, and fair value change of Class C Shares. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. Polestar Automotive Holding press release ( NASDAQ: PSNY ): Q3 net income of $299.39M Revenue of $435.45M (+104.5% Y/Y). Polestar 2 launched in 2019 as the electric performance fastback with avant-garde Scandinavian design and up to 350 kW. And in a surprise for a pure-play EV-maker, the company. As previously announced, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. Polestar Automotive (PSNY) is scheduled to report earnings on May 30, 2023. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. New to earnings? It is possible that this date will be updated in the future, once the company announces the actual date. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Investor Relations[emailprotected], Jonathan Goodman In some cases, you can identify forward-looking statements by terminology such as may, should, expect, intend, will, estimate, anticipate, believe, predict, potential, forecast, plan, seek, future, propose or continue, or the negatives of these terms or variations of them or similar terminology. Polestar ended the third quarter with about $988 million in cash, and it has since secured a $1.6 billion credit line from its two main owners, Volvo Cars and Chinese automaker Geely. Polestar expects to deliver on its full-year target of 50,000 cars. The measures may not be the same as similarly titled measures used by other companies due to possible differences in calculation methods and items or events being adjusted. Following the completion of the call, a replay will be available shortly athttps://investors.polestar.com/. Global market for premium luxury BEV/PHEV vehicles in which we operate is expected to grow +29% CAGR 2020-2025E. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, today reports its results for the nine months ended September 30, 2022. The below table summarises key preliminary operational results as of and for the year ended December 31, 2022. In late January, Polestar announced a major update to Polestar 2. Polestar 4 to debut at Shanghai auto show, Polestar reports global volumes for first quarter of 2023, Stay up to date on the latest investor news. In some cases, you can identify forward-looking statements by terminology such as may, should, expect, intend, will, estimate, anticipate, believe, predict, potential, forecast, "outlook," "guidance", plan, seek, future, propose or continue, or the negatives of these terms or variations of them or similar terminology. Polestar's (NASDAQ: PSNY) position as one of two global, pure electric vehicle makers was solidified with a strong Q3 earnings report that featured skyrocketing revenue and gross profit figures . Non-GAAP financial measures include adjusted operating loss, adjusted EBITDA, adjusted net loss, and free cash flow. Thursday's biggest analyst calls on Wall Street - CNBC Polestar Automotive Holding UK PLC Class A ADS (PSNY) Earnings Report Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. accrued expenses - related parties, Preliminary Unaudited Condensed Consolidated Statement of Cash Flows, Adjustments to reconcile Net loss to net cash flows, Change in operating assets and liabilities, Additions to property, plant and equipment, Principal repayments of short-term borrowings, Principal repayments of lease liabilities, Proceeds from the issuance of share capital and The Polestar 1was built between 2019 and 2021 asa low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) the longest of any hybrid car in the world at the time. Bojana Flint . Vehicle price increases and active cost management will help mitigate some of the impact on gross profit. cash equivalents, Net increase in cash and cash equivalents, Cash and cash equivalents at beginning of The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. During the period, Polestar increased its global presence to 23 markets, up from 19 at the end of 2021, putting the company on track to meet its target of 30 markets in aggregate by the end of. Certain statements in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All 500 build slots of Polestar 6 LA Concept edition were reserved online within a week of the production announcement. Polestar (PSNY) Stock Revs Up 20% After Doubling Revenue . Recent developments design, innovation, sustainability. Polestar's third-quarter operating loss was significantly narrower than a year ago, and its revenue more than doubled. Polestar 4 transforms the aerodynamics of a coup and the space of an SUV into a new breed of SUV coup. Bojana Flint The company improved its cash position to $973.9 million to end last year, up about 29% from a year earlier. Published Thu, Apr 27 20238:45 AM EDT. The company on Thursday reported an 84% increase in revenue for 2022 to roughly $2.5 billion as it exceeded a 50,000-vehicle delivery target. Touch device users, explore by touch or with swipe gestures. PSNY Stock Soars After Polestar Reports Q3 Earnings . The Polestar 3 electric performance SUV is scheduled for its world premiere in October 2022 in Copenhagen. Unaudited Reconciliation of GAAP and Non-GAAP Results, Investing cash flows used for tangible assets, Investing cash flows used for intangible assets, Polestar releases fourth quarter and full year 2022 financial results, Stay up to date on the latest investor news, https://edge.media-server.com/mmc/p/gp4rk9mk, 51,491 cars delivered in 2022, compared to 28,677 in 2021, an increase of 80%, Selling, general and administrative expenses increased, Research and development expenses decreased. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. The upcoming earnings date is derived from an algorithm based on a company's historical reporting. The upcoming GM earnings report should . The company is releasing two new EVs this year Polestar 3 and Polestar 4 that are expected to hit their production strides in 2024. These 3 EV Stocks Could Power Your Portfolio for the Next 5 Years *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Furthermore, in late August 2022, Polestar entered into an additional credit facility with one of those banks for approximately USD 145 million. Earnings reports . As of April 24, 2023, the average one-year price target for Polestar Automotive Holding UK PLC - ADR is 6.46. The Actual EPS was $0.14, which beat the estimate of $0.00. Sign up for free newsletters and get more CNBC delivered to your inbox. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, reports its financial results for the first six months of 2022. All Rights Reserved. The 2024 model year will feature a new high-tech front end that reflects the design language premiered by Polestar 3, substantial performance increases with all-new electric motors, even more powerful batteries, longer range, sustainability improvements and, for the first time in a Polestar, rear-wheel drive. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Polestar Automotive Holding UK PLC Stock Earnings Report Current P/E ratio: 3.13 | Price (Apr 26, 2023, EOD): $3.40 (Find current average P/E ratios for all sectors below ) PSNY Upcoming Earnings Currently no data available. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. This could result in differences from the unaudited operational and financial information published herein. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. Polestar went public via a merger with a special purpose acquisition company in June. Michael Bloom. Hertz made plans to buy 175,000 EVs from GM in September 2022. Polestar Automotive Holding UK PLC Class A ADS, Do Not Sell My Personal Information (CA Residents Only). Here are the key numbers from Polestar's third-quarter earnings report, its first as a public company following its merger with a special-purpose acquisition company in June. Thomas Ingenlath, Polestar CEO, comments: We made important progress in the first half of 2022 as we doubled revenues and volume, and successfully listed on the Nasdaq stock exchange in New York. Earnings reports almost always include EPS and Revenue results. These symbols will be available throughout the site during your session. Polestar Automotive Holding UK (PSNY) Earnings Date & Reports 523 Followers Earnings Data Report Date Nov 10, 2023 Not Confirmed Period Ending 2023 (Q3) Consensus EPS Forecast Last Year's EPS -$0.14 Same Quarter Last Year Analyst Consensus Hold Based on 2 Analysts Ratings Polestar Automotive Holding UK (PSNY) Earnings, Revenues Date & History Earnings report for Polestar Automotive Holding UK PLC [PSNY] Polestar believes non-GAAP financial measures are helpful to investors as they provide useful perspective on underlying business trends and assist in period on period comparisons. The Company also announced Polestar 3 with Luminar LiDAR is available to order, and an expanded partnership with Luminar to work on the integration of LiDAR in Polestar 5. While liquidity has strengthened, including a cash balance of approximately, In early January, Polestar announced that its vehicles will benefit from the latest enhancements and developments by. 2023 CNBC LLC. Selling, general and administrative expenses were kept flat due to active cost management. The live webcast will be available at https://edge.media-server.com/mmc/p/gp4rk9mk. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production. The data and prices on the website are notnecessarilyprovided by any market or exchange, but may be provided bymarket makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. All Rights Reserved. The forecasts range from a low of 5.05 to a high of $7.35. In 2023, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, led by strong Polestar 2 sales, and later in the year the first deliveries of Polestar 3..
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