China's XPeng Clocks Accelerating G6 Sales Growth In Q3, Sees Surge in Q4 Vehicle Deliveries

XPeng Inc XPEV reported a third-quarter FY23 sales growth of 25% year-on-year, to RMB8.53 billion ($1.17 billion), beating the consensus of $1.16 billion.

Adjusted net loss per ADS of $(0.44) beat the consensus loss of $(0.54).

The Tesla Inc TSLA rival's quarterly vehicle deliveries increased 35.3% year-on-year to 40,008. 

Revenues from vehicle sales increased 25.7% Y/Y to $1.08 billion, mainly attributable to accelerating sales growth of the G6.

Gross margin loss was (2.7)% vs 13.5% a year ago. Vehicle margin loss was (6.1)% vs 11.6% a year ago. Operating loss for the quarter was $(0.43) billion.

The company held $5 billion in cash and equivalents.

Outlook: XPeng sees Q4 vehicle deliveries of 59,500 – 63,500, up 101.2% - 114.7% year-on-year.

The company expects Q4 revenue of RMB12.7 billion - RMB13.6 billion, representing a year-on-year increase of 86.1% - 99.3%, vs. the consensus of $1.68 billion.

XPEV stock has gained 67% year-to-date.

Price Action: XPEV shares are trading lower by 1.47% at $16.75 in premarket on the last check Wednesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!