Fans of Nio (NYSE:NIO) stock will want to keep an eye on the electric vehicle (EV) company’s shares when June 9 rolls around for a potential catalyst!
That’s when the EV maker says it will release its earnings report for the first quarter of 2023. Nio will release these results before markets open that day. The company will also hold a conference call at 8:00 a.m. Eastern covering the report.
Investors will want to keep an eye on the latest EV delivery data from the company when it releases its earnings report. Nio has been seeing strong deliveries lately, with its April 2023 data showing a 31.2% year-over-year (YOY) increase to 6,658 vehicles.
What to Expect From Nio Earnings
Wall Street expects Nio to report EPS of -21 cents for Q1 2023. That makes sense, as the EV maker has yet to be profitable. However, some analysts expect the company to start being profitable in 2026.
Another thing investors will want to watch for are updates on the company’s global expansion. Nio has a large portion of its home Chinese market but is facing increasing domestic competition. This has the company planning to expand further into Europe. Any positive news about this expansion could also be a boon to NIO stock.
NIO stock is up 1.8% as of Thursday morning but still down 14% year-to-date (YTD).
There’s more stock market news traders will want to read about below!
We have all of the biggest stock market stories traders need to read about on Thursday! Our coverage includes why shares of Mullen Automotive (NASDAQ:MULN), Tesla (NASDAQ:TSLA) and Polar Power (NASDAQ:POLA) are in the news today. You can find out more on these matters at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.