NIO Q3 Loss Wider Than Expected, Revenues Miss, Q4 View Solid

NIO Inc. NIO incurred a third-quarter 2024 loss per American Depositary Share (ADS) of 36 cents, wider than the Zacks Consensus Estimate of a loss of 32 cents. The company had reported a loss of 37 cents in the year-ago quarter. This China-based electric vehicle maker posted revenues of $2.66 billion, which missed the Zacks Consensus Estimate of $2.70 billion. The top line declined 2.1% from the corresponding quarter of 2023.NIO Inc. Price, Consensus and EPS Surprise NIO Inc. price-consensus-eps-surprise-chart | NIO Inc. QuoteKey TakeawaysNIO delivered 61,855 vehicles in the third quarter, up 11.5% year over year, including 832 vehicles from the newly launched ONVO brand. Revenues generated from vehicle sales amounted to $2.38 billion, down 4.1% year over year owing to competitive pricing pressures. Other sales of $281.6 million rose 19.2%.Gross profit came in at $286 million, up 31.8% from the year-ago quarter, thanks to decreased cost of sales. Gross margin was 10.7%, up from 8%. Vehicle margin in the reported quarter climbed to 13.1% from 11% in the third quarter of 2023 due to lower material cost per unit.Research & development costs amounted to $472.9 million, which increased 9.2% year over year. Selling, general & administrative costs were $585.5 million, up 13.8% year over year. Loss from operations widened to $746.3 million due to higher operating costs. As of Sept. 30, 2024, cash and cash equivalents totaled $3.39 billion and long-term debt amounted to $1.6 billion.For fourth-quarter 2024, NIO projects deliveries in the range of 72,000-75,000 vehicles, implying a rise of 43.9-49.9% year over year. Revenues are estimated between $2.8 billion and $2.9 billion, implying a rise of 15-19.2% year over year.NIO currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Peer ReleasesXPeng’s XPEV third-quarter 2024 ADS loss per share narrowed to 27 cents from the year-ago quarter’s loss of 62 cents. Total revenues rose to $1.44 billion from $1.17 billion reported in the corresponding quarter of 2023. Vehicle margin rose to 8.6% against negative 6.1% for the same period of 2023. Vehicle margins also improved from 6.4% recorded in the second-quarter of 2024. As of Sept. 30, 2024, XPeng’s cash and cash equivalents totaled $1.5 billion and long-term debt at $908 million.For the fourth quarter of 2024, XPeng expects vehicle deliveries in the range of 87,000-91,000, suggesting a rise of 44.6-51.3% year over year. Total revenues are expected to rise 17.2-24.1% year over year.Li Auto’s LI third-quarter 2024 ADS earnings per share came in at 52 cents, higher than the year-ago quarter’s 45 cents. Total revenues rose to $6.1 billion from $4.75 billion reported in the corresponding quarter of 2023. Revenues from vehicle sales totaled $5.9 billion, up 22.9% year over year due to strong growth in deliveries. Vehicle margin rose to 20.9% compared with 21.2% for the same period of 2023. Vehicle margins also improved from 18.7% recorded in the second-quarter of 2024.  As of Sept. 30, 2024, Li Auto’s cash and cash equivalents totaled $11 billion and long-term debt at $1.13 billion.For the fourth quarter of 2024, Li Auto expects vehicle deliveries in the range of 160,000-170,000, suggesting a rise of 21.4-29% year over year. Total revenues are expected to rise 3.5-10% year over year.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIO Inc. (NIO): Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI): Free Stock Analysis Report XPeng Inc. Sponsored ADR (XPEV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks