Why Tesla's Vietnamese Rival VinFast Stock Is Gaining Today?
Portfolio Pulse from Nabaparna Bhattacharya
VinFast Auto Ltd. (NASDAQ:VFS) reported Q3 revenues of $342.66 million, a 159.3% Y/Y increase and a 3.8% increase from Q2. The company's EV deliveries were 10,027 in Q3, a 5.2% increase from Q2. E-scooter deliveries were 28,220 in Q3, a 112.9% increase from Q3 2022. The company reported a net loss per ordinary share of $(0.27) in Q3. VinFast affirms its FY2023 delivery target of between 40,000 and 50,000 vehicles and expects a saving of $400 million in capital expenditures planned for global manufacturing between 2024 and 2025.
October 05, 2023 | 12:13 pm
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VinFast reported strong Q3 revenues and growth in EV and e-scooter deliveries. The company also affirmed its FY2023 delivery target and expects significant savings in capital expenditures. However, it reported a net loss per share in Q3.
VinFast's strong Q3 revenues and growth in EV and e-scooter deliveries indicate a positive trend in its operations. The affirmation of its FY2023 delivery target and expected savings in capital expenditures suggest a positive outlook for the company. However, the reported net loss per share in Q3 could be a concern for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100