Xpeng, the electric vehicle (EV) maker, is set to unveil its unaudited financial results for the first quarter of 2024 on May 21. This news comes after Xpeng delivered 21,821 vehicles in the first quarter, slightly exceeding the lower end of its guidance range of 21,000 to 22,500 vehicles. Despite an impressive 19.7% year-on-year increase in deliveries, there was a noticeable 63.73% drop from the previous quarter.
What?
Xpeng will announce its financial results for Q1 2024 on May 21, revealing its performance during a traditionally slower season for vehicle deliveries due to the Chinese New Year holiday. The company’s first-quarter deliveries surpassed the lower end of the guidance range, indicating steady performance.
Why does it matter?
Investors and analysts await Xpeng’s financial report to assess its revenue performance, especially after the company forecasted revenue between RMB 5.8 billion and RMB 6.2 billion for the first quarter. This forecast represents a significant year-on-year revenue increase as the company aims to build on the momentum of its record revenue in the previous quarter. Xpeng’s improved gross margin and reduced net loss in the fourth quarter of 2023 suggest a potential positive direction for the company’s financial health.
How is it going to shape the future?
Xpeng’s upcoming financial results will provide insights into the company’s growth trajectory and its ability to navigate challenges such as seasonality and market fluctuations. The release of the quarterly report may impact investor sentiment and influence market perception of Xpeng’s performance in the competitive EV industry.
In preparation for the earnings announcement, Xpeng will host an earnings call on May 21, offering participants an opportunity to gain further insights into the company’s financial position and strategic outlook. Additionally, Xpeng recently reported a 4% increase in April deliveries compared to March, hinting at potential growth momentum in the coming months. The company also teased the debut of its new brand, MONA, slated for June, further adding to the anticipation surrounding Xpeng’s future developments.
As stakeholders eagerly anticipate Xpeng’s Q1 2024 earnings report, the EV maker’s performance and outlook remain under scrutiny, with the potential to influence investor decisions and industry dynamics moving forward.
Source: https://cnevpost.com/2024/05/07/xpeng-to-report-q1-2024-earnings-may-21/