Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar. Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026. We collaborate with kindred spirits on cool projects. Bojana Flint Polestar releases fourth quarter and full year 2022 financial results Total revenue of USD 2.5 billionin 2022, an increase of 84% year on year 51,491 cars delivered in 2022, compared to 28,677 in 2021, an increase of 80% Cash and cash equivalents of USD 974 millionas of December 31, 2022 GOTHENBURG, SWEDEN - 2 March 2023. But the company warned that higher costs and supply-chain issues will continue to squeeze its margins into 2023. Polestar expects the effects from product and market mix to continue alongside foreign exchange and input cost inflation. 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. Polestar releases fourth quarter and full year 2022 financial results The company improved its cash position to $973.9 million to end last year, up about 29% from a year earlier. As of September 30, 2022, Polestar had cash and cash equivalents of $988.26Mas compared to $756.68M as of December 31, 2021. The automaker still expects to deliver 50,000 vehicles in 2022, a key milestone. Why Polestar Dropped Double Digits Today | The Motley Fool The last reported earnings were for reported on March 2, 2023 for Q4. In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution ofthePolestar Precept the manifesto concept car Polestar released in 2020 that showcases the brands future vision in terms of design, technology, and sustainability. Data is a real-time snapshot *Data is delayed at least 15 minutes. Morgan Stanley upgrades GM, says stock is oversold. 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's Earnings Stand Out Versus EV Rivals Open this in the Investing.com app to get the full experience. We plan to launch three new models, one per year to 2024. Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, reports its global volumes for the first quarter of 2023. 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. Selling, general and administrative expenses were kept flat due to active cost management. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Polestar Automotive Holding press release ( NASDAQ: PSNY ): Q3 net income of $299.39M Revenue of $435.45M (+104.5% Y/Y). Sales of vehicles increased by $220.43M, or 108%, from $204.87M for the three months ended September 30, 2021 to $425.3M for the three months ended September 30, 2022. These non-GAAP measures are presented for supplemental information purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. . 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 Automotive Stock (NASDAQ:PSNY), Earnings Estimates, EPS, and Revenue Polestar Automotive reports earnings on a quarterly basis. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year. PSNY Stock Soars After Polestar Reports Q3 Earnings . Founded by Volvo Car AB (publ.) 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. See Appendix B for details and a reconciliation of adjusted metrics to the nearest GAAP measure. PolestarAutomotive Holding UK PLC (Nasdaq: PSNY) (Polestar) isa Swedish premium electric vehicle manufacturer. 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. Earnings 2021 : GGPI - Reddit Michael Bloom. Following the completion of the call, a replay will be available shortly at https://investors.polestar.com/. Analysts project the company's earnings per share (EPS) to be -$0.13, which has seen fiscal year 2022 EPS growth forecast to increase to -$0.56 and about -$0.52 for fiscal year 2023. 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. Head of Investor Relations[emailprotected], Tanya Ridd Polestar Annual Review 2021 Swedish electric vehicle maker Polestar cut its annual net losses in half last year, while revenue surged and it attempted to set itself apart from other EV startups. The unaudited financial and operational information published in this press release is preliminary and subject to potential adjustments. 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. Polestar Automotive Holding UK PLC (PSNY) Earnings Report Polestar reports results for the nine months ended September 30, 2022, Stay up to date on the latest investor news, https://edge.media-server.com/mmc/p/dyei2864. Free cash flow is calculated by subtracting cash flows used for tangible assets and intangible assets from cash used for operating activities. Transferred vehicles for demonstration and commercial purposes are owned by Polestar and included in Inventory. The majority of that increase will come from an updated Polestar 2 EV, according to Ingenlath. Get this delivered to your inbox, and more info about our products and services. The Polestar 3 electric performance SUV is scheduled for its world premiere in October 2022 in Copenhagen. . 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. Investor Relations | Polestar Global market for premium luxury BEV/PHEV vehicles in which we operate is expected to grow +29% CAGR 2020-2025E. 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. The upcoming earnings date is derived from an algorithm based on a company's historical reporting. These quarterly earnings reports give. 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. Polestarhasproducedtwo electric performance cars. We want to hear from you. 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 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. Is this happening to you frequently? Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post Revenue increased USD 506.5 million, or 95%, mainly driven by an increase in Polestar 2 vehicle sales with continued commercial expansion across markets. Polestar has added six new markets since the start of 2022, including United Arab Emirates, Kuwait, Hong Kong, Ireland, Spain and Portugal. Represents the markets in which Polestar operates. Polestar PSNY earnings: Lower operating loss, confirms guidance - CNBC These quarterly earnings reports give investors a glimpse into financial results from a company for a 3 month period. New to earnings? 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. 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 . Vehicle deliveries will be weighted towards the fourth quarter, following disruptions from COVID-19 in China. Polestar (Nasdaq: PSNY) will reveal its next car, Polestar 4, at the Shanghai auto show on 18 April 2023. Represents Polestar retail and handover locations, including Polestar Spaces, Polestar Destinations and Polestar Test Drive Centers. Polestar reports results for the nine months ended September 30, 2022 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 (PSNY) Stock Revs Up 20% After Doubling Revenue Polestar Automotive Holding Uk (NASDAQ: PSNY) reported Q4 2022 earnings per share (EPS) of -$0.01, up 100.41% year over year. GOTHENBURG, SWEDEN 1 SEPTEMBER 2022. Read our earnings report guide before you consider the forecast information when making investment decisions. The live webcast will be available athttps://edge.media-server.com/mmc/p/dyei2864. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. 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%. Thomas Ingenlath, Polestar CEO, comments: We left 2022 having exceeded our 50,000 delivery target, grown revenue over 80 percent and with strengthened liquidity. Type a symbol or company name. These symbols will be available throughout the site during your session. Polestar Automotive Holding Uk Limited - Class A Ads Earnings Dates, Upcoming and Historical PSNY last earnings on March 02, 2023 before the market opened (BMO). Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Expected to Post Polestar Reports Strong Start to 2022 With Record Sales, Continued Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. Barclays started coverage on Polestar Automotive Holding UK in a research report on Tuesday, February 14th. We have a well defined rapid growth strategy. The company held a conference call for investors at 8:00 AM eastern on the same day. The company issued strong fourth-quarter earnings, reporting a narrower loss than expected and revenue that jumped 84% from a year ago. Sales of vehicles increased by $220.43M, or 108%, from $204.87M for the. 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. Thursday morning, Polestar Automotive Holding UK. Since. In March 2022, Polestar revealed its second concept car, an electric performance roadster which builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brands vision for future sports cars. 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 Automotive Stock (NASDAQ:PSNY), Earnings Estimates - Benzinga It is possible that this date will be updated in the future, once the company announces the actual date. Polestar Automotive Holding reports Q3 results | Seeking Alpha The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Polestar (NASDAQ:PSNY) is a Swedish EV maker, as well as a subsidiary of the Chinese automotive group Geely. Please. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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 -. 2023, Nasdaq, Inc. All Rights Reserved. This measure is reviewed by management and is relevant measure for understanding the underlying operating results and trends of the business prior to the impact of any adjusting items. The below table summarises key preliminary operational results as of and for the year ended December 31, 2022. In August 2022, Polestar confirmed plans to put its electric roadster concept into production as Polestar 6, expected to launch in 2026. 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. In addition, we maintained strong momentum in our global order take and expect to deliver 50,000 cars to our customers this year, meeting our 2022 sales guidance. Foreign exchange effect on cash and cash equivalents. Polestar Automotive reports earnings on a quarterly basis. Polestar Automotive reported Q3 revenue of $435.4 million, up 104% year-over-year. 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.. Polestar is a joint venture between Sweden's Volvo Cars and its parent company, China-based Geely. From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 the companys first electric performance SUVdebuted in October 2022. Polestar 4 transforms the aerodynamics of a coup and the space of an SUV into a new breed of SUV coup. The forecasts range from a . Thursday's biggest analyst calls on Wall Street - CNBC Aiming to be operational in 30 markets by the end of 2023, from 19 at the end of 2021. The upcoming GM earnings report should . Polestar Automotive Holding Uk Plc A (PSNY). Polestar is headquartered in Gothenburg, Sweden, and its vehicles arecurrentlyavailable and on the road in markets across Europe, North America,Chinaand Asia Pacific. 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. Read more 1 2 3 4 GOTHENBURG, SWEDEN NOVEMBER 11, 2022. Earnings reports almost always include EPS and Revenue results. Polestar went public via a merger with a special purpose acquisition company in June. expense, Preliminary Unaudited Condensed Consolidated Statement of Financial Position, Trade receivables external and trade receivables and When autocomplete results are available use up and down arrows to review and enter to select. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future. That's nearly 100% growth compared to the first half of 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Transformative ambition, including a climate neutral car by 2030. Polestar increased its global presence from 10 to 19 markets in . Non-GAAP financial measures include adjusted operating loss, adjusted EBITDA, adjusted net loss, and free cash flow. This was corrected on 11/11/2022 at 8:13 AM. 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 . Polestar's CEO and CFO will hold a. *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. accrued income related parties, Accumulated deficit & Foreign currency translation The forecasts range from a low of 5.05 to a high of $7.35. Non-GAAP measure. 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 Automotive Holding A (PSNY) Earnings Dates & Reports Malmqvist declined to comment on when the company expects to breakeven or turn a profit, saying "We remain confident in the fundamentals of our business, so we have the levers and the building blocks to get to breakeven.". Polestar expects to deliver on its full-year target of 50,000 cars. All Rights Reserved. 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. But supply-chain disruptions are still an issue, and exchange-rate pressures will likely continue into 2023. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. 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. Polestar management will hold a live audio webcast today, March 2, 2023 at 08:00 ET (14:00 CET) to discuss the Companys results and outlook. Volvo Cars Q1 Results: Stable start to 2023, as company continues Polestar 4 transforms the aerodynamics of a coup and the space of an SUV into a new breed of SUV coup. Electric-vehicle start-up Polestar finished 2022 on a high note with substantially better results than its peers'. 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. 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. The Polestar 2 electric performance fastback is the companys first fully electric, high volume car. Get this delivered to your inbox, and more info about our products and services. Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price. Polestar has 125 locations and 934 service points across its markets, up 22 and 123 respectively, since the end of 2021. Polestar's relatively positive results come after other EV startups like Lucid, Nikola and Rivian reported ongoing problems with supply chains and production. Revenue: $435.4. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We plan to capture a rapidly expanding market with our unique business model. 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. The company showed solid growth when it. Those numbers imply deliveries of about 19,600 vehicles in the fourth quarter, producing about $924 million in revenue and those vehicles are already built and in transit to customers now, he said. - including external vehicles with Got a confidential news tip? Vehicle price increases and active cost management will help mitigate some of the impact on gross profit. 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 reports results for the nine months ended September 30, 2022 GOTHENBURG, SWEDEN - NOVEMBER 11, 2022. With several ground-breaking cars to come, Polestar is poised for a period of rapid growth..

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