XPeng (NYSE:XPEV) news for Friday concerning the electric car company’s earnings for the third quarter of 2020 have XPEV stock on the rise. This comes after reporting adjusted losses per American depositary share of 2.15 yuan compared to Wall Street’s estimate of 1.19 yuan. It also reported a revenue of 1.99 billion yuan, which is better than analysts’ estimates of 1.9 billion yuan.
Here’s what else is worth mentioning about the most recent XPeng earnings news.
- Adjusted per-ADS earnings for the quarter are a 50% improvement from -4.30 yuan in Q3 2019.
- Revenue for the quarter comes in 342.5% higher than the 449.7 million yuan reported in the same period of the year prior.
- Operating loss of 1.74 billion yuan is 128.5% wider year-over-year than -761.5 million yuan.
- The XPeng earnings report also has its net loss sitting at 1.15 billion yuan.
- That’s 39.8% worse than the company’s net loss of 822.6 million yuan from the same time last year.
Dr. Brian Gu, vice president and chairman of XPeng, said this about the earnings news.
“The robust results we achieved in the third quarter, from delivery numbers, production ramp-up, and advancement in R&D, to expansion plans for the new factory and overseas business, reflect the strong market appeal of our products, the resonance of our strategy, and our ability to adeptly execute our operational plan.”
The XPeng news also includes guidance for Q4 2020. This has it expecting vehicle deliveries of 10,000 units and revenue of 2.2 billion yuan. Wall Street’s looking for revenue of 2.37 billion yuan during the quarter.
XPEV stock was up 11% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
