Shares of XPeng Inc. (XPEV) 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) down 4.2%, Nio Inc. (NIO) down 4.4% and Li Auto Inc. (LI) falling 5.1%. Futures for the S&P 500 were down 0.5%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 12, 2021 06:27 ET (11:27 GMT)
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