XPeng Stock Slumps as EV Maker’s Loss Narrows Less Than Expected
Key Takeaways
U.S.-listed shares of XPeng (
XPEV
) tumbled Tuesday after the Chinese electric vehicle maker’s fourth-quarter results fell short of what analysts had expected.
The company said Tuesday it generated 16.11 billion
Chinese yuan
($2.23 billion) in revenue in the quarter, up 23% from 13.05 billion yuan earned in the
same time a year ago
but just below the analyst consensus compiled by Visible Alpha.
XPeng lost an adjusted 1.47 yuan per
American depositary share (ADS)
, narrower than the 1.98 yuan per ADS it lost a year ago but wider than the 1.38 yuan per ADS loss for the fourth quarter that analysts had expected.
Delivery Forecast for Current Quarter Soars
XPeng forecasts deliveries of 91,000 to 93,000 in the first quarter, more than quadruple the number of deliveries by the company in the year-ago period, with revenue expected to more than double
year-over-year
to 15 billion to 15.7 billion yuan. Analysts currently expect first-quarter revenue to come in at 15.28 billion yuan.
Other electric vehicle stocks like Tesla (
TSLA
) are also under pressure Tuesday after Chinese EV giant BYD
announced a new charger
it reportedly claimed can deliver 250 miles’ worth of charge in roughly the same time it takes to fuel a gas-powered car.
XPeng’s U.S.-listed shares were down almost 8% at $22.61 recently on Tuesday. Earlier this month the stock closed at $26.34, its highest closing price since July 2022.
Read the original article on
Investopedia
