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Lordstown Motors reports first quarterly profit on asset sale to Foxconn

(Reuters) - Lordstown Motors Corp on Thursday reported its first quarterly profit as the electric-vehicle company benefited from the sale of certain assets including its Ohio...
Lordstown Motors reports first quarterly profit on asset sale to Foxconn © Reuters. FILE PHOTO: Lordstown's logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Lordstown Motors Corp on Thursday reported its first quarterly profit as the electric-vehicle company benefited from the sale of certain assets including its Ohio assembly line to Taiwanese contract manufacturer Foxconn.

The firm, which has yet to sell a vehicle, reaffirmed that production of its Endurance electric pickup truck would start in the third quarter and delivers would follow in the three months after that.

Net income came in at $63.7 million in the quarter ended June 30, compared with a loss of $108.2 million a year earlier.

The results included a gain of more than $100 million from the asset sale, which was prompted by the need for funding amid industry-wide supply chain disruptions and rising material costs.

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20-08-2022 03:57:09 (UTC+7)

EUR/USD

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 EUR/USD1.0040↑ Sell
 GBP/USD1.1830↑ Buy
 USD/JPY136.87Neutral
 AUD/USD0.6877Sell
 USD/CAD1.2991↑ Sell
 EUR/JPY137.42↑ Sell
 EUR/CHF0.9627↑ Sell
 Gold1,761.30↑ Buy
 Silver18.975Sell
 Copper3.6692↑ Buy
 Crude Oil WTI89.94↑ Sell
 Brent Oil95.79Sell
 Natural Gas9.280Neutral
 US Coffee C216.20↑ Sell
 Euro Stoxx 503,730.32↑ Buy
 S&P 5004,228.48↑ Sell
 DAX13,544.52Neutral
 FTSE 1007,550.37↑ Buy
 Hang Seng19,773.03Neutral
 Small Cap 20001,958.83↑ Buy
 IBEX 358,338.10↑ Buy
 BASF43.035↑ Buy
 Bayer54.40Sell
 Allianz176.02↑ Sell
 Adidas165.60↑ Sell
 Lufthansa6.275Buy
 Siemens AG108.20↑ Sell
 Deutsche Bank AG8.496Neutral
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Cập nhật 20-08-2022 03:57:11
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Cập nhật lúc 18:54:07 19/08/2022
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