Nikola beats expectations after delivering 48 trucks in Q2

Posted at 8:55 AM, Aug 05, 2022
and last updated 2022-08-05 11:55:33-04

PHOENIX — Nikola, the Phoenix-based vehicle maker, announced its first significant revenue on Thursday after selling 48 electric trucks during the second quarter.

Nikola Corp. (Nasdaq: NKLA) reported revenue of $18.1 million for the quarter ended June 30, ahead of the Wall Street expectation of $16.46 million. The company also reported a net loss per share of 25 cents, again outpacing analyst expectations of a 28 cent loss.

The company made 50 trucks at its Coolidge plant in Pinal County and said it would have made more if not for a lack of battery packs.

Despite supply constraints, Nikola still expects to make between 300 and 500 vehicles for the full year.

Read more of this story from the Business Journal.