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Polestar Q1 Earnings Preview: Analyst Says Chinese EV Manufacturing Equals 'Better Gross Margins'

Electric vehicle company Polestar Automotive Holding (NASDAQ:PSNY) will report unaudited first-quarter financial results on Tuesday, July 2. The company will also report second-quarter global volumes on Tuesday. Earnings Estimates: Analysts expect Polestar to report first-quarter revenue of $737.57 million according to data from Benzinga Pro. The company missed analysts' revenue estimates in three straight quarters. Analysts expect Polestar to report a loss of 12 cents per share. The company beat analysts' estimates for earnings per share in three of the past four quarters. Polestar recently shared 2023 preliminary results, which included recognizing non-cash impairment charges of around $450 million related to inventory and Polestar 2 assets. Fiscal year 2023 revenue was $2.38 billion, down 3% year-over-year. Polestar had deliveries of 54,626 in 2023, up from 51,491 deliveries in 2022 and above company guidance of 50,000. Read Also: GM Sticks To Spring Timeline For Tesla Supercharger Access Despite Musk’s Layoffs, Polestar Delays It To Summer What Analysts Are Saying: Polestar's revenue declines were driven by increased discounts and lower ...