Shares of XPeng Inc. XPEV, +13.39% fell 4.6% in premarket trading Friday, after the China-based electric vehicle maker reported a fourth-quarter loss that was much narrower than a year ago, as vehicle deliveries jumped fourfold, but was wider than some analysts had expected. The net loss was RMB1.35 billion ($207.4 million), or RMB1.05 (16 cents) a share, after a loss of RMB1.36 billion, or 7.75 a share, in the year ago period. The average estimate of two analysts surveyed by FactSet was a per-share loss of RMB0.72, with a range of per-share losses of RMB1.00 to RMB0.44. Total revenue rose 345.5% to RMB2.85 billion ($437.0 million), while the average of two estimates surveyed by FactSet was RMB2.71 billion. Deliveries climbed 302.9% to 12,964 vehicles. Gross margin improved to 7.4% from from negative 6.6% a year ago. The decline XPeng shares post-earnings comes amid a selloff in other EV makers, with shares of Tesla Inc. TSLA, +4.72% down 4.2%, Nio Inc. NIO, +11.40% down 4.4% and Li Auto Inc. LI, +11.48% falling 5.1%. Futures ES00, -0.49% for the S&P 500 SPX, +1.04% were down 0.5%.
View Article Origin Here
