Li Auto (LI) reported a surprising Q4 gain before the stock market opened on Thursday as the Chinese EV market remains hot. Li Auto stock surged.
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Li Auto earnings report
Estimates: Analysts expected a loss of 4 cents a share on revenue of $ 565.5 million.
Results: Li Auto earnings came in at 2 cents a share. Sales increased 39% to $ 635.5 million. Li Auto has only one car in production, the Li One SUV. It is technically a hybrid as it has a small gas engine to extend its range.
Li Auto previously reported that fourth-quarter deliveries reached 14,464 vehicles, a 67% jump from Q3 when the total totaled 8,660 deliveries. It had approximately 32,624 deliveries for all of 2020.
For comparison, Nio (NIO) sold 17,353 units in Q4 and 43,728 for the year while Xpeng (XPEV) sold 12,964 in Q4 and 27,041 in the year.
Outlook: Li Auto sees first quarter sales of $ 450.6 million to $ 493.5 million, an increase of 246% -279% from a year earlier. It expects Q1 deliveries of 10,500-11,500 vehicles, up 263% -297% from Q1 2020. Li Auto previously reported that January deliveries were up 356% year over year to 5,379. but below the 6,126 as of December 2020.
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Li Auto Stock
Shares were up 1% today to 28.98 in stock market premarket trading. Li Auto stocks have seen their relative strength line fall in recent months, according to MarketSmith chart analysis. The RS rating is 82 while the EPS rating is 56.
Wall Street is bullish on Li Auto stocks. Eleven of the 14 analysts reporting it have a buy rating. The median price forecast for 12 months is 40.46.
Among other Chinese EV stocks, Nio fell 1.1% and Xpeng lost 2.4% early Thursday. Nio also reports Monday. Tesla (TSLA) was down 3%.
Earlier this week, in Texas Hyliion (HYLN), which makes EV powertrains for commercial fleets, reported a loss of 13 cents per share in the fourth quarter.
Follow Adelia Cellini Linecker on Twitter @IBD_Adelia
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