Nio Q1 2024 Earnings miss analyst estimate Revenue -42.1% Net Loss up 9.4% YoY
1) Revenue is RMB 9.91 billion ($1.37 billion) in Q1, missing analysts' expectations of RMB 10.75 billion in a Bloomberg survey. That was down 7.2 percent YoY and down 42.1 percent from Q4 2023.
2) Nio delivered 30,053 vehicles in Q1, down 3.18 percent YoY and down 39.95 percent from Q4 2023.
3) The company reported a net loss of RMB 5.18 billion in Q1, an increase of 9.4 percent YoY and a decrease of 3.4 percent from Q4 2023.
4) Gross margin for Q1 was 4.9 percent, down from 7.5 percent in Q4 2023.
5) It had a vehicle margin of 9.2 percent in Q1 compared to 11.9 percent in the fourth quarter of 2023.
My Take: Nio Q1 2024 earnings is poor largely due the unrealistic price cutting and unsustainable operating cost. This article explains why DT Invest gives a Strong Sell rating and target price $3.15:
DT Invest gives Nio shares a Strong Sell & 12-month price target of $3.15
DT Invest gives Nio shares a Strong Sell & 12-month price target of $3.15
You can read the Q1 2024 Financial Report (from AJ):
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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ZnWC OP : The poor earnings are reflected in the pre-market share price down more than 6%.
ZnWC OP : Intraday trade Nio share price down more than 9%