Nio Reports Wider Q4 Loss Despite Revenues Topping $1B

Nio Inc – ADR (NYSE: NIO) reported mixed quarterly results, with in-line fourth-quarter revenues but a much broader-than-anticipated loss. The revenue guidance for the first quarter was above consensus estimates. The EV maker moreover announced a month-over-month decline in deliveries for February.

Key Nio Q4 Metrics: The Chinese language EV startup acknowledged its fourth-quarter revenues climbed 133.16% twelve months-over-twelve months and increased 46.7% quarter-over-quarter to 6.64 billion yuan or $1.018 billion. With the exception of issues, the non-GAAP loss per share was 0.93 yuan, or 14 cents.

Analysts, on life like, had estimated a loss of seven cents per share on revenues of $1.01 billion.

Within the identical interval final twelve months, the firm reported a loss of 39 cents per share and revenues of $406.99 million, and in the preceding third quarter, revenues had been at $666.6 million and the non-GAAP loss per share was 12 cents.

Nio had earlier guided to fourth-quarter revenues of $921.8 million to $947.9 million.

Automobile gross sales came in at $946.2 million, up 130% from a twelve months previously and 44.7% bigger than in the old quarter.

Fourth-quarter vehicle margin was at 17.2% in comparison to a detrimental 6% in the twelve months-previously quarter and a depart 14.5% in the old quarter.

Cash and money equivalents, restricted money and short-term Investment was at $6.5 billion on the terminate of 2020.

“With step by step increasing deliveries, stable life like selling tag, bettering arena cloth tag and manufacturing effectivity, our vehicle margin reached 17.2% in the fourth quarter. Moreover, we achieved depart money waft from working actions for the fourth quarter and the fats fiscal twelve months of 2020,” acknowledged CFO Wei Feng.

Explore extra earnings on NIO

Related Hyperlink: Nio To Beginning up Exporting EVs To Europe In 2d Half of Of 2021: Document

Nio’s Deliveries Momentum Falters In February: Nio confirmed in early January it delivered 17,353 vehicles in the fourth quarter, a 111% twelve months-over-twelve months growth. The deliveries momentum accelerated further on the inaugurate of 2021, with January deliveries hiking over 350% to 7,225 vehicles.

Within the earnings birth, the firm disclosed February numbers, which came in at 5,578, comprising, 1,327 ES8s, 2,216 ES6s and 2,035 EC6s.

Nio’s Q1 Outlook: Nio acknowledged it expects to raise 20,000 to 20,500 vehicles for the quarter.

The firm guided to first-quarter revenues of $1.13 billion to $1.158 billion, representing over 400% twelve months-over-twelve months growth, whereas analysts estimate revenues of $718.49 million.

Nio Stock: After Nio’s 1,110% approach in 2020, the inventory started the unique twelve months on solid footing. The inventory raced to an all-time excessive of $66.99 at as soon as after its Jan. 9 Nio Day. Since then, the inventory has seeing mistaken volatility.

The broader market weak point has exerted further stress on the inventory, dragging it proper down to a brand unique low of $41.66 earlier final week. The inventory has regained one of the most misplaced floor and has added 2.09% for the twelve months-to-date interval.

Nio shares exchange at a tag/gross sales ratio of around 28.5 in comparison to bigger rival Tesla Inc’s (NASDAQ: TSLA) 23.3.

In after-hours procuring and selling, the inventory was down 3.82% at $47.86.

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