Luminar Technologies Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Luminar Technologies (NASDAQ:LAZR) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$15.5m (down 8.6% from 3Q 2023).
• Net income: US$27.4m (up from US$134.3m loss in 3Q 2023).
• EPS: US$0.057 (up from US$0.34 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Luminar Technologies EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates.

Looking ahead, revenue is forecast to grow 57% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Auto Components industry in the US.

Performance of the American Auto Components industry.

The company's shares are up 34% from a week ago.

Risk Analysis

It is worth noting though that we have found 6 warning signs for Luminar Technologies (2 are a bit concerning!) that you need to take into consideration.

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