Stock Analysis & Ideas

Mullen (NASDAQ:MULN) Q4 Earnings Preview: Here’s What to Expect

Story Highlights

Mullen is expected to report its Q4 financial results soon. The strong orders for the company’s electric SUV might support the company’s performance. However, increasing competition and macroeconomic challenges may hurt earnings.

Emerging electric vehicle (EV) manufacturer Mullen Automotive (NASDAQ:MULN) is expected to release its fourth-quarter earnings soon. The company has been able to reduce its debt burden considerably over the past year, which is likely to support its profitability.

Also, strong orders for the Mullen FIVE SUV, along with efforts to expand the company’s presence in several domestic and international markets, might have benefitted performance in the upcoming quarter. Nevertheless, the quarterly results are likely to have been marred by supply shortages and competitive headwinds, to some extent.

Recent Promising Developments

The company was recently able to bag a purchase order worth $200 million for 6,000 Class 1 EV cargo vans from Randy Marion Isuzu, a member of the Randy Marion Automotive Group.

Furthermore, Mullen’s acquisition of Electric Last Mile Solutions is another positive growth catalyst. The company plans to use the acquired company’s manufacturing plant to produce the Mullen FIVE SUV and the Bollinger B1 and B2 platforms. Finally, it has partnered with Loop Global, an EV charging solution provider.

Key Takeaways

Mullen’s efforts to expand market share and build a position in the attractive EV space are encouraging. However, the company could face a liquidity crisis as it continues to raise money and acquire companies, making it a risky investment. Moreover, shares are down 95.8% so far this year.

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