Chinese EV Maker ZEEKR Sees 117% Jump in Vehicle Deliveries in Q1, Outperforms Expectations
Portfolio Pulse from Anusuya Lahiri
Chinese EV maker ZEEKR (NYSE:ZK) reported a significant increase in Q1 2024 vehicle deliveries and revenue, outperforming analyst expectations. The company saw a 117% Y/Y increase in vehicle deliveries and a 71% Y/Y increase in revenue, beating the consensus estimate. Despite an adjusted EPS loss, it was much better than expected. The vehicle margin and gross margin also improved significantly.
June 11, 2024 | 11:23 am
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ZEEKR reported a strong Q1 2024 with a 117% Y/Y increase in vehicle deliveries and a 71% Y/Y increase in revenue, beating analyst expectations. The adjusted EPS loss was significantly better than expected. The vehicle margin and gross margin also saw notable improvements.
The significant increase in vehicle deliveries and revenue, along with better-than-expected EPS loss and improved margins, are positive indicators for ZEEKR. The premarket share price increase of 6.51% reflects investor optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100