The American depository receipts for shares of Nio Inc. declined more than 3% during Monday’s extended session after the China-based electric car maker reported mixed fourth-quarter results and said revenue for a “ transformational ” 2020 was more than $ 2 billion.
Nio NIO,
said it lost RMB 1.39 billion ($ 212.8 million) in the quarter, or 16 cents per ADR, compared to a loss of RMB 2.8 billion in the same period a year ago. Excluding one-time items, Nio lost $ 203.6 million, or 14 cents a share.
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Fourth quarter sales were up 133% to $ 1.02 billion, the company said. Full year 2020 sales were up 108% to $ 2.49 billion, Nio said.
Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on revenue of $ 1.025 billion.
Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its midsize SUV, the ES6. That is compared to 8,224 vehicles in the fourth quarter of 2019.
For the full year 2020, it delivered 43,728 vehicles, down from 20,565 in 2019.
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Fourth-quarter deliveries were a record for the company, completing a “ transformational 2020, ” founder and CEO William Li said in a statement. That momentum has continued into 2021, he said.
The company oversaw deliveries of approximately 20,000 to 20,500 vehicles in the first quarter, which would be an increase of between 15% and 18% over the fourth quarter deliveries. It led to sales between $ 1.13 billion and $ 1.16 billion for the quarter.
The shares of Nio closed the regular trading day at almost 9%. In the past 12 months, the stock has risen 1,100%, compared to 32% for the S&P 500 index SPX,