You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar Automotive Holding press release ( NASDAQ: PSNY ): Q3 net income of $299.39M Revenue of $435.45M (+104.5% Y/Y). The listing expense represents a non-recurring, non-cash, share-based listing charge, incurred in connection with the business combination with Gores Guggenheim, Inc (GGI). 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. In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of the Polestar Precept the manifesto concept car Polestar released in 2020 that showcases the brands future vision in terms of design, technology, and sustainability. Polestar uses both generally accepted accounting principles ("GAAP," i.e., IFRS) and non-GAAP (i.e., non-IFRS) financial measures to evaluate operating performance, for internal comparisons to historical performance, and for financial decision-making purposes. See Appendix B for details and a reconciliation of adjusted metrics to the nearest GAAP measure. This could result in differences from the unaudited operational and financial information published herein. Polestar expects to deliver on its full-year target of 50,000 cars. Sales of vehicles increased by $220.43M, or 108%, from $204.87M for the. Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (Polestar) is a Swedish premium electric vehicle manufacturer. Polestar's CEO and CFO will hold a. 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. 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 Polestar Automotive Holding UK PLC (PSNY) Earnings Report | Seeking Alpha Is PSNY a Buy? 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. Hertz made plans to buy 175,000 EVs from GM in September 2022. Polestar (Nasdaq: PSNY) introduces Polestar 4, an electric performance SUV coup and the second SUV in the brands line-up. Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. accrued income related parties, Accumulated deficit & Foreign currency translation reserve, Other non-current provisions and liabilities, Other non-current interest-bearing liabilities, Trade payables external and trade payables and This measure is reviewed by management and is a relevant measure for understanding cash sourced from operating activities that is available to repay debts, fund capital expenditures, and spend on other strategic initiatives. other contributed capital, Effect of foreign exchange rate changes on cash and 2023 CNBC LLC. The forecasts range from a . This increase is primarily due to rapid commercial expansion, with Polestar increasing its global presence significantly during the period. When autocomplete results are available use up and down arrows to review and enter to select. In late January, Polestar announced a major update to Polestar 2. Polestar meets global sales target of approximately 29,000 cars, Polestar dedicates team to Polestar 0 project, Polestar releases downloadable performance software upgrade for Polestar 2, Polestar calls for transparency and accelerating the shift to electric mobility at COP26, Polestar signs agreement to be publicly listed through combination with Gores Guggenheim, Polestar strengthens management team and expands engineering capabilities, Polestar receives prestigious design awards, Polestar raises USD 550 million from new investors, Polestar 2 wins Best of Best at 2021 Red Dot awards, Polestar reduced the greenhouse gas emissions per sold car by 6%. The upcoming earnings date is derived from an algorithm based on a company's historical reporting. 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. 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. 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. Is this happening to you frequently? 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 . In support of Polestars working capital needs, over the last three months, Polestar repaid two existing and entered into two new 12-month unsecured working capital loan agreements with two banks in China, totalling approximately USD 200 million. Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Rating) - Investment analysts at Cantor Fitzgerald issued their FY2023 earnings per share estimates for shares of Polestar Automotive Holding UK in a research note issued on Thursday, April 27th.Cantor Fitzgerald analyst A. Sheppard anticipates that the company will post earnings of ($0.53) per share for the year. Polestar Automotive Stock (NASDAQ:PSNY), Earnings Estimates, EPS, and Revenue Polestar Automotive reports earnings on a quarterly basis. 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. Read more 1 2 3 4 For the year as a whole, the Company expects gross margin to be broadly in line with 2022, with volume and product mix supporting margin progression later in the year. 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. 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. Following the completion of the call, a replay will be available shortly at https://investors.polestar.com/. Open this in the Investing.com app to get the full experience. Represents total volumes of new vehicles delivered, including external sales with recognition of revenue at time of delivery, external sales with repurchase commitments and internal sales of vehicles transferred for demonstration and commercial purposes as well as vehicles transferred to Polestar employees at time of registration. Polestar expects to publish its Q3 2022 financial results on November 11, 2022. Earnings for Polestar (PSNY) Earnings in 2022 (TTM): -$0.46 B According to Polestar's latest financial reports the company's current earnings (TTM) are -$0.46 B.In 2021 the company made an earning of -$1.01 B a decrease over its 2020 earnings that were of -$0.48 B.The earnings displayed on this page is the company's Pretax Income. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Vehicle deliveries will be weighted towards the fourth quarter, following disruptions from COVID-19 in China. 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. Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more. With no legacy, our focus is solely on the technologies of the future. 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 has added six new markets since the start of 2022, including United Arab Emirates, Kuwait, Hong Kong, Ireland, Spain and Portugal. 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. 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. The live webcast will be available at https://edge.media-server.com/mmc/p/gp4rk9mk. The Actual Revenue was $435.4M, which beat the estimate of $0K. 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. They issued an "equal weight" rating and a $7.00 target price on the stock. Get this delivered to your inbox, and more info about our products and services. New to earnings? Polestar Automotive Holding Uk (NASDAQ: PSNY) reported Q4 2022 earnings per share (EPS) of -$0.01, up 100.41% year over year. Online accessibility with expanding retail presences across existing and new markets. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Polestar reports results for the nine months ended September 30, 2022 GOTHENBURG, SWEDEN - NOVEMBER 11, 2022. Head of Investor Relations[emailprotected], Tanya Ridd The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. Data Provider:Zacks Investment Research. Polestar defines adjusted operating loss as operating loss, adjusted to exclude listing expense. Unaudited Condensed Consolidated Statement of Loss and Comprehensive Loss, (in thousands of U.S. dollars except per share data and unless otherwise stated), Consolidated Statement of Comprehensive Loss, Unaudited Condensed Consolidated Statement of Financial Position, (in thousands of U.S. dollars unless otherwise stated), Unaudited Condensed Consolidated Statement of Cash Flows, Polestar reports revenue of USD 1.0 billion, up 95%, for first half of 2022, Stay up to date on the latest investor news, Selling, general and administrative expenses, - including external vehicles with repurchase obligations. Polestar 2 launched in 2019 as the electric performance fastback with avant-garde Scandinavian design and up to 350 kW. Since. Visit the Earnings Calendar to see dates for upcoming earnings announcements. Swedish electric-vehicle maker Polestar said Friday that its third-quarter operating loss narrowed from a year ago as revenue more than doubled, and it confirmed that it still expects to deliver 50,000 vehicles in 2022. PR & Communications, Global[emailprotected]. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. Swedish electric vehicle maker Polestar cut its annual losses in half last year, while revenue surged. All Rights Reserved. CFO Johan Malmqvist said that Polestar's lower operating loss was helped by its efforts to reduce costs, specifically short-term reductions in advertising and marketing spending. 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. (Because Polestar's share price has fallen since it went public, it will have to pay out less than it had previously expected, hence the credit.). Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. The company exceeded a 50,000-vehicle delivery target and expects to increase deliveries by nearly 60% to approximately 80,000 cars in 2023. Polestar 2021 Trends Our pillars Living our brand Growth strategy Download our Sustainability Report 2021 Annual Review 2021 Polestar Accelerating the shift to sustainable mobility 01 Polestar 2021 02 Trends 03 Our pillars 04 Living our brand 05 Growth strategy CEO Comment The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. The below table summarises key financial results for the six months ended June 30, 2022 and June 30, 2021. 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. Following the completion of the call, a replay will be available shortly athttps://investors.polestar.com/. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers. 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. From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 the companys first electric performance SUV which is expected to debut in October 2022. Morgan Stanley upgrades GM, says stock is oversold, merger with a special-purpose acquisition company. Nasdaq provides visual representation of analyst expected earnings growth. Polestars Annual Report on Form 20-F is expected to be filed with the, Polestars 2022 Sustainability Report is expected to be published in, Polestar expects to post its unaudited financial results for the quarter ended. (together with its subsidiaries, Volvo Cars) and Zhejiang Geely Holding Group Co., Ltd (Geely),in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. 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. 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. Aiming to be operational in 30 markets by the end of 2023, from 19 at the end of 2021. *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. period, Cash and cash equivalents at end of period. At the time of its public debut in late June, Polestar was already in production and had more than 55,000 of its vehicles on the road around the world. Create your Watchlist to save your favorite quotes on Nasdaq.com. Its adjusted operating loss narrowed by 8% to $914 million, while its adjusted earnings before interest and taxes, depreciation and amortizationincreased 4.8% to $759 million. As previously announced, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, predominantly driven by Polestar 2 sales. Polestar went public via a merger with a special purpose acquisition company in June. Total Polestar Automotive Holding Uk earnings for the quarter were -$262.44 million.In the same quarter last year, Polestar Automotive Holding Uk's earnings per share (EPS) was $2.41. Accelerating the shift to sustainable mobility, This is not the time for incremental change, but radical innovation and we are not afraid to set ambitious goals., Our model line up will address the fastest growing segments of the premium market. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. For example, projections of revenue, volumes and other financial or operating metrics are forward-looking statements. While delivering improved earnings for the quarter, despite raw material prices remaining at elevated levels and continued turbulence around the world, Volvo Cars' execution engine remains focused on its . Here's a quick guide forhow to read an earnings report. Polestar expects to post its financial and operational results for the third quarter of 2022 on Friday, November 11, 2022, before market opening in the USA. Adjusted EBITDA is calculated as listing expense, fair value change of earn-out rights, fair value change of Class C Shares, interest income, interest expense, income tax expense, depreciation, and amortization, subtracted from net loss. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production. Polestar went public via a merger with a special purpose acquisition company in June. In August 2022, Polestar confirmed plans to put its electric roadster concept into production as Polestar 6, expected to launch in 2026. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. The company issued strong fourth-quarter earnings, reporting a narrower loss than expected and revenue that jumped 84% from a year ago. Selling, general and administrative expenses were kept flat due to active cost management. Non-GAAP financial measures include adjusted operating loss, adjusted EBITDA, adjusted net loss, and free cash flow. Non-GAAP measure. We collaborate with kindred spirits on cool projects. 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 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. The Polestar 1 was built between 2019 and 2021 as a 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. Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. Earnings reports . But Ingenlath. Analyze the earnings history of Polestar Automotive using advanced sorting and filters. 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. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. CEO Thomas Ingenlath described the company's 2022 performance as the groundwork for a "different phase" in the automaker's growth as it aims to increase deliveries by nearly 60% to approximately 80,000 cars. On Invalid Date, . GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. PSNY Analysts Price Targets Currently no data available. Morgan Stanley upgrades GM, says stock is oversold. 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. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestars ability to maintain agreements or partnerships with its strategic partners, Volvo Cars and Geely, and to develop new agreements or partnerships; (2) Polestars ability to maintain relationships with its existing suppliers, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (3) Polestars reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its reliance on strategic partners for servicing its vehicles and their integrated software; (4) Polestars reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production capacities; (5) competition, the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) Polestars estimates of expenses and profitability; (7) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (8) the possibility that Polestar may be adversely affected by other economic, business, and/or competitive factors; (9) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Polestars future business; (10) changes in regulatory requirements, governmental incentives and fuel and energy prices; (11) the outcome of any legal proceedings that may be instituted against Polestar or others; (12) the ability to meet stock exchange listing standards; (13) risks associated with changes in applicable laws or regulations and with Polestars international operations; (14) Polestars ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (15) delays in the design, manufacture, launch and financing of Polestars vehicles and Polestars reliance on a limited number of vehicle models to generate revenues; (16) Polestars ability to continuously and rapidly innovate, develop and market new products; (17) risks related to future market adoption of Polestars offerings; (18) risks related to Polestars distribution model; (19) the impact of the global COVID-19 pandemic, inflation, interest rate changes, the ongoing conflict between Ukraine and Russia, supply chain disruptions and logistical constraints on Polestar, Polestars projected results of operations, financial performance or other financial and operational metrics, or on any of the foregoing risks; and (20) other risks and uncertainties set forth in the sections entitled Risk Factors and Cautionary Note Regarding Forward-Looking Statements in Polestars Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar.
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