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Li Auto (LI) reported surprise fourth-quarter earnings ahead of the stock market opening on Thursday, as China’s EV market remains warm. Li Auto’s stock has increased.
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Li Auto Revenue Report
Estimates: Analysts were expecting a loss of 4 cents a share on revenue of $ 565.5 million.
Results: Li Auto’s profit came to 2 cents per share. Revenue jumped 39% to $ 635.5 million. Li Auto has only one vehicle in production, the Li One SUV. It is technically a hybrid because it has a small gasoline engine to extend its range.
Li Auto reported earlier that deliveries reached 14,464 vehicles in the fourth quarter, a jump of 67% from the third quarter when deliveries stood at 8,660. It had about 32,624 deliveries for all of 2020.
By comparing, Nio (NIO) sold 17,353 units in Q4 and 43,728 for the year, while Xpeng (XPEV) sold 12,964 in the fourth quarter and 27,041 for the year.
Outlook: Li Auto sees first-quarter revenue of $ 450.6 million to $ 493.5 million, up 246% -279% from a year earlier. It expects deliveries of 10,500 to 11,500 vehicles in the first quarter, up 263% to 297% from the first quarter of 2020. Li Auto previously reported that January deliveries climbed 356% d ‘year over year at 5,379, but were below 6,126 as of December 2020.
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Li Auto Stock
The shares rose 1% to 28.98 in pre-market today. Li Auto stock has seen its relative strength line collapse in recent months, according to MarketSmith chart analysis. Its RS rating is 82, while its EPS rating is 56.
Wall Street is bullish on Li Auto stock. Eleven of the 14 analysts who cover it have a buy rating. The predicted 12-month median price is 40.46.
Among VE’s other Chinese stocks, Nio fell 1.1% and Xpeng lost 2.4% early Thursday. Nio also reports on Monday. You’re here (TSLA) fell 3%.
Earlier this week, based in Texas Hyliion (HYLN), which makes EV powertrains for commercial fleets, reported a loss of 13 cents per share in the fourth quarter.
Please follow Adelia Cellini Linecker on Twitter @IBD_Adelia.
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