Automobile Manufacturing Stocks Q3 In Review: Mobileye (NASDAQ:MBLY) Vs Peers

MBLY Cover Image

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Mobileye (NASDAQ: MBLY) and the rest of the automobile manufacturing stocks fared in Q3.

Much capital investment and technical know-how are needed to manufacture functional, safe, and aesthetically pleasing automobiles for the mass market. Barriers to entry are therefore high, and auto manufacturers with economies of scale can boast strong economic moats. However, this doesn’t insulate them from new entrants, as electric vehicles (EVs) have entered the market and are upending it. This has forced established manufacturers to not only contend with emerging EV-first competitors but also decide how much they want to invest in these disruptive technologies, which will likely cannibalize their legacy offerings.

The 11 automobile manufacturing stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.7%.

Thankfully, share prices of the companies have been resilient as they are up 5% on average since the latest earnings results.

Mobileye (NASDAQ: MBLY)

With its EyeQ chips installed in over 200 million vehicles worldwide, Mobileye (NASDAQ: MBLY) develops advanced driver assistance systems and autonomous driving technologies that help vehicles detect and respond to road conditions.

Mobileye reported revenues of $504 million, up 3.7% year on year. This print exceeded analysts’ expectations by 4.6%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.

Mobileye Total Revenue

Unsurprisingly, the stock is down 26.3% since reporting and currently trades at $10.54.

Is now the time to buy Mobileye? Access our full analysis of the earnings results here, it’s free.

Best Q3: Ford (NYSE: F)

Established to make automobiles accessible to a broader segment of the population, Ford (NYSE: F) designs, manufactures, and sells a variety of automobiles, trucks, and electric vehicles.

Ford reported revenues of $50.53 billion, up 9.4% year on year, outperforming analysts’ expectations by 9.1%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Ford Total Revenue

The market seems happy with the results as the stock is up 10.4% since reporting. It currently trades at $13.61.

Is now the time to buy Ford? Access our full analysis of the earnings results here, it’s free.

Lucid (NASDAQ: LCID)

Founded by a former Tesla Vice President, Lucid Group (NASDAQ: LCID) designs, manufactures, and sells luxury electric vehicles with long-range capabilities.

Lucid reported revenues of $336.6 million, up 68.3% year on year, falling short of analysts’ expectations by 3.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

As expected, the stock is down 41.5% since the results and currently trades at $10.11.

Read our full analysis of Lucid’s results here.

THOR Industries (NYSE: THO)

Created through the acquisition and merger of various RV manufacturers, THOR Industries manufactures and sells a range of recreational vehicles, including motorhomes and travel trailers, catering to consumers seeking the freedom and comfort of the RV lifestyle.

THOR Industries reported revenues of $2.39 billion, up 11.5% year on year. This number topped analysts’ expectations by 15.4%. It was a strong quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

THOR Industries achieved the biggest analyst estimates beat but had the weakest full-year guidance update among its peers. The stock is up 4% since reporting and currently trades at $114.60.

Read our full, actionable report on THOR Industries here, it’s free.

Goodyear (NASDAQ: GT)

With its iconic blimp floating above major sporting events since 1925, Goodyear (NYSE: GT) is one of the world's largest tire manufacturers, producing and selling tires for automobiles, trucks, aircraft, and other vehicles, along with related services.

Goodyear reported revenues of $4.65 billion, down 3.7% year on year. This print missed analysts’ expectations by 0.7%. Zooming out, it was a satisfactory quarter as it also logged a beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.

The stock is up 32.2% since reporting and currently trades at $9.15.

Read our full, actionable report on Goodyear here, it’s free.


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