NIO Q2 Earnings on Deck, What to Expect

seekingalpha2023-08-28

Chinese automaker NIO is scheduled to announce Q2 earnings results on Tuesday, August 29th, before market open.The consensus EPS estimate is -$0.24 and the consensus revenue estimate is $1.27 billion....

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Shahfarid
2023-08-29
Shahfarid
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Revenue estimates have seen 0 upward revisions and 4 downward.The company on Jun 9 reported Q1 Non-GAAP EPADS of -$0.36, beating estimates by 5 cents. Revenue of $1.55 billion was up 7.7% from last year but missed expectations by $80 million.NIO has a Quant rating of \"HOLD\", with a 3.04 rating score.NIO has an industry ranking of 23 out of 31 among automobile manufacturer stocks, as per SA's Quant ranking.Wall Street rates the NIO stock \"BUY\" and Seeking Alpha authors rate it \"HOLD\".NIO stock fell 70.9% in 2022, while the benchmark S&P 500 Index slipped nearly 20% for the year.Stock is up 12.5% so far this year as of Friday's close.Recent analyses on NIO\"We're downgrading NIO to a sell; we think the company will face an increasingly difficult macro environment in China and aggressive pricing from the competition. Expectations for gross margin percentage growth in 2Q23 remain low after price cuts and ramped production output, and we don't see the stock outperforming in the near-term due to competition and weaker-than-expected demand despite new releases. We recommend investors exit the stock at current levels as we believe investor money could be placed in better-positioned names to outperform in 2H23,\" writes Tech Stock Pros in an August 23 research.\"While Nio started ramping up its deliveries in July, and achieved a record number of deliveries at that, it is still too far from its 250,000 delivery target for 2023. Moreover, I'm forecasting that the EV maker will miss on analyst revenue estimates when it reports its Q2 earnings... The company is operating at extremely low gross margins as well as burning through cash at an extremely high rate. While the investment it received from the Abu Dhabi government will help it continue operating, I believe it is not enough and that the company will need further investment capital if it continues burning through cash at the current rate. 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