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XPeng (XPEV) Q2 Loss Narrows, Sales Jump Y/Y on Solid Deliveries
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XPeng (XPEV - Free Report) reported second-quarter 2021 loss per share of 23 cents or RMB1.50, narrower than the year-ago loss of RMB 6.29 owing to higher revenues. The China-based electric vehicle maker posted revenues of $582.5 million, up a whopping 536.7% year over year.
XPeng Inc. Sponsored ADR Price, Consensus and EPS Surprise
XPeng delivered 17,398 vehicles in the second quarter of 2021, skyrocketing 439% year over year. P7 Model accounted for more than 66% of the total deliveries. Among the total P7s delivered during the quarter under review, 97% supported XPILOT 2.5 or XPILOT 3.0.
Revenues generated from vehicle sales amounted to $551.1 million, representing a 562.4% jump from the corresponding quarter of 2020. The increase in vehicle sales was mainly attributed to higher deliveries achieved from a better product mix offered to customers. Other sales amounted to $27.4 million, 256% higher than the year-ago period.
Importantly, vehicle margin for the reported quarter was 11% versus the year-ago period’s negative 5.6%. Higher delivery volumes and average selling price as well as lower material cost led to the improvement in vehicle margin. Gross margin was 11.9% compared with 2.7% in second-quarter 2020 on the back of robust sales and increased vehicle margin. R&D and SG&A costs were $133.7 million and $159.6 million, reflecting a year-over-year surge of 170% and 116%, respectively.
Cash and cash equivalents totaled $2,392.1 million as of Jun 30, 2021. Long-term debt was $247.2 million.
XPeng — which shares space with NIO Inc. (NIO - Free Report) , Li Auto (LI - Free Report) and BYD Co Ltd (BYDDY - Free Report) in the same industry — expects third-quarter 2021 deliveries in the band of 21,500-22,500 vehicles, signaling a year-over-year uptick in the range of 150.6-162.3%. Revenues are envisioned in the range of RMB 4.8-5 billion, indicating a year-over-year jump of 141.2-151.3%. XPeng currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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XPeng (XPEV) Q2 Loss Narrows, Sales Jump Y/Y on Solid Deliveries
XPeng (XPEV - Free Report) reported second-quarter 2021 loss per share of 23 cents or RMB1.50, narrower than the year-ago loss of RMB 6.29 owing to higher revenues. The China-based electric vehicle maker posted revenues of $582.5 million, up a whopping 536.7% year over year.
XPeng Inc. Sponsored ADR Price, Consensus and EPS Surprise
XPeng Inc. Sponsored ADR price-consensus-eps-surprise-chart | XPeng Inc. Sponsored ADR Quote
XPeng delivered 17,398 vehicles in the second quarter of 2021, skyrocketing 439% year over year. P7 Model accounted for more than 66% of the total deliveries. Among the total P7s delivered during the quarter under review, 97% supported XPILOT 2.5 or XPILOT 3.0.
Revenues generated from vehicle sales amounted to $551.1 million, representing a 562.4% jump from the corresponding quarter of 2020. The increase in vehicle sales was mainly attributed to higher deliveries achieved from a better product mix offered to customers. Other sales amounted to $27.4 million, 256% higher than the year-ago period.
Importantly, vehicle margin for the reported quarter was 11% versus the year-ago period’s negative 5.6%. Higher delivery volumes and average selling price as well as lower material cost led to the improvement in vehicle margin. Gross margin was 11.9% compared with 2.7% in second-quarter 2020 on the back of robust sales and increased vehicle margin. R&D and SG&A costs were $133.7 million and $159.6 million, reflecting a year-over-year surge of 170% and 116%, respectively.
Cash and cash equivalents totaled $2,392.1 million as of Jun 30, 2021. Long-term debt was $247.2 million.
XPeng — which shares space with NIO Inc. (NIO - Free Report) , Li Auto (LI - Free Report) and BYD Co Ltd (BYDDY - Free Report) in the same industry — expects third-quarter 2021 deliveries in the band of 21,500-22,500 vehicles, signaling a year-over-year uptick in the range of 150.6-162.3%. Revenues are envisioned in the range of RMB 4.8-5 billion, indicating a year-over-year jump of 141.2-151.3%. XPeng currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.