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Nov. 23, 2021, 6:15 a.m. EST

XPeng's stock jumps after big revenue beat, upbeat outlook

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By Tomi Kilgore

Shares of XPeng Inc. /zigman2/quotes/219982686/composite XPEV -12.57% rallied 4.2% in premarket trading Tuesday, after the China-based electric vehicle maker reported a wider-than-expected third-quarter loss but revenue that rose well above forecasts and provided an upbeat fourth-quarter outlook. The net loss widened to RMB1.59 bln ($249.7 million), or RMB1.89 per American depositary share (ADS), from a loss of RMB1.15 billion a year ago. Excluding nonrecurring items, the adjusted loss per ADS came to RMB1.77, compared with the FactSet consensus of RMB1.30. Revenue jumps 187.4% to RMB5.72 billion ($895.5 million) to beat the FactSet consensus of RMB5.03 billion, as deliveries rose 199.2% to a record 25,666 vehicles, including 217.7% growth in P7 model deliveries. Gross margin improved to 14.4% from 4.6%. Looking ahead, the company expects fourth-quarter deliveries of between 34,500 and 36,500 vehicles, representing growth of 166.1% to 181.5%, and revenue between RMB7.1 billion and RMB7.5 billion, compared with the FactSet consensus of RMB6.09 billion. The stock has surged 19.4% over the past three months through Monday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI -2.01% has edged up 0.6% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.54% tacked on 4.5%.

/zigman2/quotes/219982686/composite
US : U.S.: NYSE
$ 32.61
-4.69 -12.57%
Volume: 17.54M
Jan. 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$32.42 billion
Rev. per Employee
$462,706
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/zigman2/quotes/206267952/composite
US : U.S.: Nasdaq
$ 59.95
-1.23 -2.01%
Volume: 5.67M
Jan. 27, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,326.51
-23.42 -0.54%
Volume: 3.04B
Jan. 27, 2022 5:00p
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