Stock Track | Li Auto Stock Plunges After Disappointing Q3 Earnings and Weak Q4 Guidance

Stock Track
2024-11-01

Shares of Chinese electric vehicle maker Li Auto Inc. (LI) plunged 13.89% on October 31, 2024, after the company reported disappointing third-quarter earnings and provided weaker-than-expected guidance for the fourth quarter.

For the third quarter of 2024, Li Auto reported revenue of $6.11 billion, missing analysts' consensus estimate of $41.67 billion. The company's adjusted earnings per American Depositary Share (ADS) of $0.52 also fell significantly short of the expected $2.31.

While Li Auto's vehicle deliveries grew 45% year-over-year in Q3, its revenue growth was much lower at 24%, indicating the impact of lower average selling prices amid intense competition in the Chinese EV market. The company's gross margin also declined to 21.5% from 22% a year earlier, as it had to cut prices on flagship models and introduce its new L6 SUV at a low price point.

Looking ahead to the fourth quarter, Li Auto expects to deliver between 160,000 and 170,000 vehicles, generating revenue in the range of $6.2 billion to $6.5 billion. However, analysts had projected higher revenue of $6.71 billion for the quarter, according to FactSet data.

"The soft guidance has raised concerns about the company's sales pressure in the fourth quarter and is weighing on market sentiment," said Angus Chan, an auto analyst at Bocom International.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10