Overview
XPeng Q2 revenue rises 125.3% yr/yr to RMB18.27 bln ($2.55 bln)
Vehicle deliveries increase 241.6% yr/yr to 103,181 units
Net loss narrows to RMB0.48 bln from RMB1.28 bln a year ago
Outlook
Company expects Q3 deliveries between 113,000 and 118,000 vehicles, up 142.8% to 153.6% YoY
XPeng forecasts Q3 revenue between RMB19.6 bln and RMB21.0 bln, up 94% to 107.9% YoY
Result Drivers
VEHICLE DELIVERIES - XPeng's vehicle deliveries surged 241.6% year-over-year, driving revenue growth
MARGIN IMPROVEMENTS - Gross margin improved to 17.3% and vehicle margin to 14.3%, attributed to cost reductions and better product mix
TECHNOLOGY UPGRADES - Completion of upgrades to technology platforms for smart and electrification technologies contributed to performance, per CEO Xiaopeng He
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | RMB 18.27 bln | ||
Q2 Adjusted Net Income | -RMB 390 mln | ||
Q2 Net Income | -RMB 480 mln | ||
Q2 Gross Margin | 17.3% | ||
Q2 Adjusted Income from Operations | -RMB 840 mln | ||
Q2 Income from Operations | -RMB 930 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the auto & truck manufacturers peer group is "buy"
Wall Street's median 12-month price target for Xpeng Inc is $25.00, about 20.4% above its August 18 closing price of $19.90
Press Release: ID:nGNX4qKqdw
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)