Play all audios:
In this article * NKLA Follow your favorite stocksCREATE FREE ACCOUNT Nikola TRE FCEV 2. Courtesy: Nikola Electric truck maker Nikola said Thursday that it has received nearly 300 orders for
its new hydrogen fuel cell semitruck — but it's facing what will be a costly recall of its earlier battery-electric trucks. Nikola recalled all of its Tre battery-electric trucks, 209
in total, in August following a fire caused by a coolant leak in a truck's battery pack. It said on Thursday that after an investigation into the causes, it has decided to replace the
battery packs on all 209 trucks at an estimated cost of $61.8 million. It expects to resume delivering battery-electric trucks to customers in the first quarter next year. Despite the
recall, a dealer ordered 47 battery-electric trucks during the third quarter, Nikola said. Nikola said it currently has 277 "non-binding" orders for its new fuel-cell truck from 35
different fleet customers. It shipped a total of three trucks during the third quarter, versus 63 in the year-ago quarter. Here are the key numbers from Nikola's third-quarter earnings
report. * ADJUSTED LOSS PER SHARE: 30 cents vs. 14 cents expected by Wall Street analysts polled by LSEG, formerly known as Refinitiv * REVENUE: Negative $1.7 million vs. Wall Street's
estimate of $13.3 million, according to LSEG Nikola's net loss was $425.8 million, or 50 cents per share. On an adjusted basis, excluding stock-based compensation, it lost 30 cents per
share. A year ago, Nikola lost $236.2 million, or 54 cents per share. Nikola reported negative revenue of $1.7 million in the third quarter, after it paid out about $2.4 million to buy
back seven trucks from former dealers as new CEO Steve Girsky refocused the company's sales efforts on California. Its revenue was $24.2 million in the third quarter of 2022. Nikola
raised $250 million during the third quarter. As of Sept. 30, it had $362.9 million in cash, up from $226.7 million as of June 30 and just $121.1 million as of March 31. DON'T MISS
THESE STORIES FROM CNBC PRO: * _Bank of America's investment strategist says the S&P 500 correction could last until it hits this level_ * _A 'panic spike' is possible
late October into November, says Bank of America's chart analyst_ * _The S&P 500 has entered a correction. Here's why Warren Buffett likely thinks that's good news_ *
_Morgan Stanley auto analyst Jonas says investors are 'waking up' to idea that Ford, GM are not a way to play EV boom_