Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
💎 Reveal Undervalued Stocks Hiding in Any Market Get Started
XPeng reports 4Q22 earnings miss; expects decreased deliveries in 1Q23
© Reuters. XPeng (XPEV) reports 4Q22 earnings miss; expects decreased deliveries in 1Q23
By Michael Elkins
Shares of Xpeng (NYSE:XPEV) are down 0.14% to $8.19 per share in pre-market trading Friday following the electric vehicle company’s 4Q earnings miss.
The automaker reported 4Q EPS of (RMB2.57), RMB0.47 (RMB1 = $0.1451) worse than the analyst estimate of (RMB2.10). Revenue for the quarter came in at RMB5.14 billion versus the consensus estimate of RMB5.59 billion, representing a decrease of 39.9% from the same period of 2021, and a decrease of 24.7% from the third quarter of 2022.
The automaker reportedly delivered 22,204 vehicles in the quarter, representing a decrease of 46.8% from 41,751 in the corresponding period of 2021. Deliveries of the company’s Flagship G9 SUVs were 6,189. Revenues from vehicle sales were RMB4.66B, representing a decrease of 43.1% YoY.
“We have comprehensively reviewed our strategy and took decisive actions to execute our organizational restructuring and strengthen our capabilities where necessary,” said Mr. He Xiaopeng, Chairman and CEO of XPENG. “From 2023 to 2027, the industry will move from a phase of rapid EV penetration to an era of accelerated disruption by smart technologies, and we are confident that we will further strengthen our leadership in smart EV technologies.”
“With the optimization of our product portfolio and the significant improvement of our marketing capabilities, we will resume growth in our sales and market share,” said Dr. Hongdi Brian Gu, honorary vice chairman and co-president of XPENG. “In the meantime, we will improve operational efficiency across our business processes and continue to reduce costs.”
Management released guidance for 1Q revenue of RMB4-4.2B. Deliveries of vehicles are expected to be between 18,000 and 19,000, representing a year over-year decrease of approximately 45.0% to 47.9%.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.