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.
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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