Li Auto Beats Sales Views, Sees Record Deliveries In Q2

Li Auto (LI) delivered blended first-quarter outcomes early Wednesday, however sees report deliveries within the second quarter. That comes a a number of weeks after rival Nio (NIO) reported mixed Q1 results whereas Xpeng (XPEV) beat views. Li Auto inventory edged decrease.


Li Auto Earnings

Estimates: Analysts anticipated a lack of two cents per ADR on income of $521.5 million, in accordance with Yahoo Finance.

Results: Li Auto misplaced three cents a share as income soared to $545.7 million.

Outlook: Li Auto sees Q2 income of $609 million to $651.7 million. Deliveries ought to attain 14,500-15,500 automobiles, a achieve of 120%-135% vs. a yr earlier.

In Q1, Li Auto bought 12,579 SUVs, up 334% vs. the year-ago, pandemic-hit quarter, although down from This fall 2020’s 14,464 as a result of Lunar New Year seasonal results. Sales momentum continued in April, with 5,539 deliveries, up 111% yr over yr and up 13% month over month.

Li’s sole car, the Li One SUV, has a small fuel engine to increase its vary. The firm started promoting the Li One in December 2019 and has bought greater than 50,000 models to this point.

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Li Auto Stock

Shares misplaced a fraction in premarket buying and selling on the stock market today, after assembly resistance on the falling 50-day line on Tuesday. Li Auto inventory has seen its relative strength line plunge in 2021 after a pointy rally late final yr, in accordance with MarketSmith chart analysis. The RS line, the blue line within the chart offered, tracks a inventory’s efficiency vs. the S&P 500 index.

Among different EV shares that compete in China, Nio stock, Xpeng and Tesla (TSLA) rose lower than 1% earlier than Wednesday’s open. Nio, Xpeng and Tesla inventory are all under their 50-day strains as nicely.

Nio and Xpeng reported outcomes a number of weeks earlier.

The Li One’s recognition is driving plans for brand spanking new launches subsequent yr and past, the corporate says. That comes as Nio and Xpeng unveiled or launched new EVs earlier this yr.

Meanwhile, Li Auto introduced a $750 million convertible debt providing, trying so as to add to its money place forward of its deliberate EV enlargement.

That weighed on Li Auto inventory. It’s additionally seen to lag Nio and Xpeng in autonomous driving expertise.

Find Aparna Narayanan on Twitter at @IBD_Aparna.


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