XPeng Stock Drops After Q1 Earnings and Cautious Outlook: The Details
Portfolio Pulse from Anusuya Lahiri
XPeng Inc reported a Q1 FY23 sales decline of 45.9% YoY, missing consensus estimates. Vehicle deliveries and revenues from vehicle sales decreased, and the company posted an operating loss. XPeng provided a cautious outlook for Q2, expecting lower vehicle deliveries and revenue.
May 24, 2023 | 10:47 am
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NEGATIVE IMPACT
XPeng's Q1 FY23 sales and vehicle deliveries missed estimates, and the company provided a cautious Q2 outlook. The stock is trading lower by 5.6% in premarket.
XPeng's Q1 sales decline and missed estimates, along with a cautious Q2 outlook, are likely to negatively impact the stock price in the short term. The stock is already trading lower by 5.6% in premarket, indicating a negative sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla rival XPeng reported a decline in Q1 sales and vehicle deliveries, with a cautious Q2 outlook. This may have a minor impact on Tesla's stock.
As XPeng is a competitor of Tesla, its Q1 sales decline and cautious Q2 outlook may have a minor impact on Tesla's stock. However, the impact is likely to be limited as Tesla has a more diversified product portfolio and global presence.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30