Fisker (FSR) has introduced that it’s adjusting the discharge of its Q3 2023 monetary outcomes and earnings name. As an alternative of the initially introduced November 8, 2023, the discharge of the corporate’s third-quarter outcomes and earnings name will now be held on November 13, 2023.
In a information launch, Fisker famous that its Q3 earnings name will likely be held on Monday, November 13, at 5:00 p.m. ET (2:00 p.m. PT). The electrical automobile maker defined that the adjustment within the launch of its Q3 outcomes was partly as a result of appointment of the corporate’s new chief accounting officer efficient November 6, 2023, in addition to the departure of its former chief accounting officer efficient October 27, 2023.
Because of these modifications, Fisker famous that the completion of its monetary statements and associated disclosures have been delayed. The corporate can be submitting a Type 12b-25 notification, and it expects its Type 10-Q to be filed by November 14, 2023.
Fisker traders didn’t seem to obtain the replace in a optimistic mild. On Wednesday’s pre-market, Fisker shares slid over 5% regardless of the S&P 500 and the Nasdaq being comparatively flat. As famous by Barron’s, Fisker’s current drops counsel that the corporate’s shares are down over 30% over the previous month — and are actually approaching a report low.
Whereas the delay in Fisker’s Q3 outcomes is only some days, the thought of reporting earnings on its initially introduced time is mostly thought-about a minimal bar for a publicly traded firm, particularly one which competes in a aggressive section like Fisker. The truth that Fisker admitted that it might not be ending its monetary statements on time might then be thought-about a crimson flag by some traders.
For sure, traders and analysts would doubtless be paying additional shut consideration to each line in Fisker’s Q3 outcomes when it will get launched on November 13.
Disclosure: I don’t personal FSR shares.
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