Nio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises

The Street2021-08-12
Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.

Nio (NIO) -Get Report posted better-than-expected second-quarter earnings Wednesday as the Chinese electric vehicle company reported a jump in revenue and raised its guidance.

Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.Nio reported a net loss of 7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.

Revenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.Vehicle sales came to $1.23 billion, up 127% from a year ago.

The company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.

Niodelivered 7,931 vehicles in July, up 124.5% year-over-year, but down 1.9% from 8,083 in June.For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.

Revenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago. FactSet is calling for revenue of $1.32 billion.

William Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:

"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity," Bin said. "We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan."

Steven Wei Feng, Nio's chief financial officer, said vehicle margin and gross margin reached 20.3% and 18.6% respectively.

The increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.

Last month, Nio saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Ken3888
    2021-08-12
    Ken3888
    Really shit
  • neoyoucai
    2021-08-12
    neoyoucai
    Like pls??
  • rogerl
    2021-08-12
    rogerl
    Good. 
  • TYHzir
    2021-08-12
    TYHzir
    Like
  • DenisL
    2021-08-12
    DenisL
    Can NIO be the TESLA of China? 
  • JohnTaiKai
    2021-08-12
    JohnTaiKai
    What are your price targets for buying and sellingof NIO?
    • RonaldSTH: 
      wont hit $44 anytime soon. Might even go under $40
    • 揭人不揭短: 
      确实，蔚来是国策产品，全球黄金赛道，所以这个股现在买都可以睡得着。
    • 老夫的少女心_: 
      蔚来是个长线标的，想着都可以买，不用管上限。
    • 小时候可帅了00: 
      只要新能源的风口一直在，这个股就可以一直涨。不设限。
    • 宝宝金水_: 
      这个价格很难设定，短线的话目前还需要看看。
Leave a comment
106