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2023-08-29

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Nio Stock Falls After Losses Widen and Revenue Falls More Than Forecast

China-based EV maker misses revenue estimates for a 4th-straight quarter, but Q3 outlook is above forecastsShares of Nio Inc. slipped Tuesday, after the China-based electric vehicle maker reported sec

Nio Stock Falls After Losses Widen and Revenue Falls More Than Forecast

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That put the stock on track for the 12th one-day post-earnings loss following the past 15 quarterly reports.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ca6f6a9fcdf75b199245c3d3b29f06\" tg-width=\"604\" tg-height=\"611\"/></p><p>The Shanghai-based company reported a net loss for the quarter to June 30 that widened to RMB5.79 billion ($798.9 million), or RMB3.70 per American depositary share, from RMB2.26 billion, or RMB1.68 per ADS, in the same period a year ago.</p><p>Excluding non-recurring items, adjusted per-ADS losses were RMB3.28, to miss the FactSet loss consensus of RMB2.96.</p><p>Total revenue fell 14.8% to RMB8.77 billion ($1.21 billion), below the FactSet consensus of RMB9.16 billion. Vehicle sales of RMB7.19 billion were down 22.1% from the sequential first quarter and 24.9% from a year ago.</p><p>Cost of sales fell less than revenue, down 3.0%, as gross margin contracted to 1.0% from 13% last year.</p><p>Deliveries declined 6.1% to 23,520 vehicles. For July, the company delivered 20,462 EVs, up 103.6% from a year ago.</p><p>&#34;Attributed to the product transition based on the NT2.0 Platform, coupled with the expansion of our power network and the strengthening of our sales capabilities, we expect a solid growth in vehicle deliveries in the second half of 2023,&#34; said Chief Executive William Bin Li.</p><p>For the third quarter, the company said it expects total revenue of between RMB18.90 billion and RMB19.52 billion, up from revenue of RMB13.00 billion a year ago and above the current FactSet consensus of RMB18.03 billion.</p><p>Deliveries are expected to be between 55,000 and 57,000 EVs, compared with deliveries of 31,607 EVs a year ago.</p><p>The stock has run up 43.1% over the past three months through Monday, while the <a href=\"https://laohu8.com/S/EEMA\">iShares</a> MSCI China exchange-traded fund has MCHI slipped 0.1% and the S&amp;P 500 index SPX has gained 5.4%.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nio Stock Falls After Losses Widen and Revenue Falls More Than Forecast</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNio Stock Falls After Losses Widen and Revenue Falls More Than Forecast\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-08-29 18:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>China-based EV maker misses revenue estimates for a 4th-straight quarter, but Q3 outlook is above forecasts</p><p>Shares of Nio Inc. slipped Tuesday, after the China-based electric vehicle maker reported second-quarter results that missed expectations but provided an upbeat revenue outlook for the current quarter.</p><p>The stock <a href=\"https://laohu8.com/S/NIO\">$(NIO)$</a> eased nearly 3% in premarket trading. That put the stock on track for the 12th one-day post-earnings loss following the past 15 quarterly reports.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ca6f6a9fcdf75b199245c3d3b29f06\" tg-width=\"604\" tg-height=\"611\"/></p><p>The Shanghai-based company reported a net loss for the quarter to June 30 that widened to RMB5.79 billion ($798.9 million), or RMB3.70 per American depositary share, from RMB2.26 billion, or RMB1.68 per ADS, in the same period a year ago.</p><p>Excluding non-recurring items, adjusted per-ADS losses were RMB3.28, to miss the FactSet loss consensus of RMB2.96.</p><p>Total revenue fell 14.8% to RMB8.77 billion ($1.21 billion), below the FactSet consensus of RMB9.16 billion. Vehicle sales of RMB7.19 billion were down 22.1% from the sequential first quarter and 24.9% from a year ago.</p><p>Cost of sales fell less than revenue, down 3.0%, as gross margin contracted to 1.0% from 13% last year.</p><p>Deliveries declined 6.1% to 23,520 vehicles. For July, the company delivered 20,462 EVs, up 103.6% from a year ago.</p><p>&#34;Attributed to the product transition based on the NT2.0 Platform, coupled with the expansion of our power network and the strengthening of our sales capabilities, we expect a solid growth in vehicle deliveries in the second half of 2023,&#34; said Chief Executive William Bin Li.</p><p>For the third quarter, the company said it expects total revenue of between RMB18.90 billion and RMB19.52 billion, up from revenue of RMB13.00 billion a year ago and above the current FactSet consensus of RMB18.03 billion.</p><p>Deliveries are expected to be between 55,000 and 57,000 EVs, compared with deliveries of 31,607 EVs a year ago.</p><p>The stock has run up 43.1% over the past three months through Monday, while the <a href=\"https://laohu8.com/S/EEMA\">iShares</a> MSCI China exchange-traded fund has MCHI slipped 0.1% and the S&amp;P 500 index SPX has gained 5.4%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","NIO.SI":"蔚来","09866":"蔚来-SW"},"source_url":"https://www.benzinga.com/news/earnings/23/08/34084185/nio-q2-adj-epads-0-45-misses-0-36-estimate-sales-990-90m-miss-1-35b-estimate","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2363454343","content_text":"China-based EV maker misses revenue estimates for a 4th-straight quarter, but Q3 outlook is above forecastsShares of Nio Inc. slipped Tuesday, after the China-based electric vehicle maker reported second-quarter results that missed expectations but provided an upbeat revenue outlook for the current quarter.The stock $(NIO)$ eased nearly 3% in premarket trading. That put the stock on track for the 12th one-day post-earnings loss following the past 15 quarterly reports.The Shanghai-based company reported a net loss for the quarter to June 30 that widened to RMB5.79 billion ($798.9 million), or RMB3.70 per American depositary share, from RMB2.26 billion, or RMB1.68 per ADS, in the same period a year ago.Excluding non-recurring items, adjusted per-ADS losses were RMB3.28, to miss the FactSet loss consensus of RMB2.96.Total revenue fell 14.8% to RMB8.77 billion ($1.21 billion), below the FactSet consensus of RMB9.16 billion. Vehicle sales of RMB7.19 billion were down 22.1% from the sequential first quarter and 24.9% from a year ago.Cost of sales fell less than revenue, down 3.0%, as gross margin contracted to 1.0% from 13% last year.Deliveries declined 6.1% to 23,520 vehicles. For July, the company delivered 20,462 EVs, up 103.6% from a year ago.\"Attributed to the product transition based on the NT2.0 Platform, coupled with the expansion of our power network and the strengthening of our sales capabilities, we expect a solid growth in vehicle deliveries in the second half of 2023,\" said Chief Executive William Bin Li.For the third quarter, the company said it expects total revenue of between RMB18.90 billion and RMB19.52 billion, up from revenue of RMB13.00 billion a year ago and above the current FactSet consensus of RMB18.03 billion.Deliveries are expected to be between 55,000 and 57,000 EVs, compared with deliveries of 31,607 EVs a year ago.The stock has run up 43.1% over the past three months through Monday, while the iShares MSCI China exchange-traded fund has MCHI slipped 0.1% and the S&P 500 index SPX has gained 5.4%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":454,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}