Shares of XPeng Inc. (XPEV) slumped 3.3% toward a fifth-straight loss and four-month low in premarket trading Monday, after the China-based electric vehicle maker reported a wider-than-expected fourth-quarter loss although revenue beat forecasts, as deliveries increased fourfold. The net loss narrowed to RMB787.4 million ($120.7 million), or RMB1.05 a share, from RMB1.35 billion in the same period a year ago. Excluding nonrecurring items, the adjusted loss per share was RMB95 cents, compared with the FactSet loss consensus of RMB92 cents. Total revenue rose 345.5% to RMB2.85 billion ($437.0 million), beating the FactSet consensus of RMB2.71 billion, as deliveries jumped 302.9% to 12,964 vehicles. For the first quarter, the company said it expects total revenue to rise 531% from a year ago to RMB2.6 billion and deliveries to increase 450% to about 12,500 vehicles. There is currently no FactSet consensus for first-quarter revenue. The stock, which has tumbled 21.0% the past four days, closed Friday at the lowest price since Nov. 4. It has dropped 42.4% over the past three months, shares of China-based rival Nio Inc. (NIO) has lost 18.2% and the S&P 500 has gained 3.8%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 08, 2021 06:21 ET (11:21 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.