Nikola higher after hours following earnings report
Nikola shares are up after hours following the electric-truck startup's fourth quarter results. The electric-truck company reported an adjusted earnings (loss) per share of -17 cents and an adjusted Ebitda loss of $65.5 million vs. Street estimates of - 24 cents/share andan adjusted Ebitda loss estimated loss of $86.73 million. Yahoo FInance's Ines Ferre joined Yahoo Finance Live to break down the details.
Video Transcript
SEANA SMITH: We want to get to another gainer here after hours. Following its earnings report, Nikola is out with its results. Ines Ferre has those numbers for us. Ines.
INES FERRE: And Seana, Nikola reporting for its fourth quarter adjusted loss per share coming in at $0.17. The Street had been expecting a $0.24 loss per share. Its adjusted EBITDA loss came in at $65.5 million. That's narrower than what the Street had been expecting. Operating loss came in at $146.8 million.
Some interesting commentary from CEO Mark Russell where he says in the fourth quarter of 2020 Nikola made the necessary changes to refocus and realign the company. You have seen us restructure our agreement with GM. He went on to say, and realign the company's resources with laser focus on our core businesses, battery, electric, and hydrogen fuel cell electric heavy-duty trucks. Just recently they unveiled that hydrogen fuel cell truck, a line of details for those. It will all be about execution for this company, really, going forward as all the negative catalysts some analysts see have happened in 2020. Now it's all about prototypes and production in the years ahead. The stock in after hours is up about 4%, Seana.
