China's XPeng Clcoks Accelerating G6 Sales Growth In Q3, Sees Surge in Q4 Vehicle Deliveries
Portfolio Pulse from Anusuya Lahiri
XPeng Inc (XPEV) reported a 25% year-on-year sales growth in Q3 FY23, surpassing consensus estimates with revenues of $1.17 billion. Adjusted net loss per ADS was better than expected at $(0.44). Vehicle deliveries grew by 35.3% to 40,008 units, driven by strong G6 sales. However, gross and vehicle margins turned negative compared to the previous year. XPeng forecasts a significant increase in Q4 vehicle deliveries and revenue, expecting to beat consensus revenue estimates. Despite the positive outlook, XPEV shares dropped by 1.47% in premarket trading.
November 15, 2023 | 12:19 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
XPeng Inc reported higher than expected Q3 sales and a positive outlook for Q4, with a significant increase in vehicle deliveries and revenue forecasted. However, shares fell in premarket trading.
XPeng's positive earnings report and strong Q4 outlook would typically lead to a positive short-term impact on the stock. However, the premarket drop suggests that investors may be concerned about the negative gross and vehicle margins, or they may be taking profits after the year-to-date gain. The short-term impact is negative due to the premarket price action.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Tesla Inc, mentioned as a rival to XPeng, may experience indirect effects from XPeng's earnings report and growth forecasts, but no direct financial impact was reported.
Tesla is mentioned as a competitor to XPeng, and while XPeng's results could indicate broader market trends in the EV sector, the news does not directly pertain to Tesla's financials or stock. Therefore, any impact on Tesla's stock would be speculative and based on market sentiment rather than concrete financial data.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20