[ad_1]
NIO (NIO) reported fourth quarter income which beat Wall Avenue expectations, although its first quarter income and supply steering got here in under expectations.
These are the outcomes for the Chinese language electrical car firm’s fourth quarter 2021 outcomes, versus Wall Avenue consensus expectations.
Adjusted loss per ADR: — 16 cents vs -16 cents anticipated
Income: $1.55 billion vs $1.52 billion anticipated
Deliveries: 25,034 vs 24,945 estimated
NIO is forecasting first quarter 2022 income to return in between $1.51 billion and $1.57 billion. The Avenue was anticipating gross sales of $1.66 billion.
Supply steering for the present quarter got here in between 25,000 to 26,000 automobiles versus Avenue expectations of 27,958 automobiles.
“We concluded the yr of 2021 on a robust notice with an annual supply of 91,429 automobiles in complete, representing a rise of 109.1% year-over-year, regardless of all of the challenges together with the provision chain volatilities particularly,” William Bin Li, founder, chairman and CEO of NIO, stated in a press release.
Analysts will likely be listening in the course of the firm’s earnings name for any particulars about rising manufacturing prices, the continued auto chip scarcity and potential impacts from the current COVID-19 lockdowns in China. They’re additionally in search of commentary on how the corporate is navigating any delisting issues surrounding Chinese language corporations buying and selling within the U.S.
Morgan Stanley analyst Tim Hsiao just lately reduce his value goal on NIO to $34 from $66, whereas sustaining a Purchase score. Hsiao believes NIO ought to be capable to climate headwinds corresponding to “geopolitical tensions, pervasive COVID curbs and ADR de-listing dangers” higher than among the different EV makers.
NIO just lately listed on the Hong Kong alternate. Its friends XPeng (XPEV) and Li Auto (LI) started buying and selling in Hong Kong final yr.
The EV-maker’s American depository shares are down round 30% yr to this point. Larger rates of interest and rising inflation have taken the air out high-growth corporations that are not but worthwhile.
Wall Avenue is bullish on the Chinese language EV maker, with 33 Purchase, 3 Maintain, and 0 Promote scores. The typical analyst value goal is $47/ADR.
Ines is a markets reporter overlaying shares from the ground of the New York Inventory Trade. Observe her on Twitter at @ines_ferre
Learn the newest monetary and enterprise information from Yahoo Finance
Observe Yahoo Finance on Twitter, Instagram, YouTube, Fb, Flipboard, and LinkedIn
[ad_2]
Source link