Categories AlphaGraphs, Earnings, Industrials

Earnings: Nio reports record deliveries for Q3; revenues up 33%

Electric vehicle company NIO Inc. (NYSE: NIO) has reported a sharp increase in net sales and record deliveries for the third quarter of 2022. The growth was driven mainly by the new product lineup based on NIO Technology 2.0.

The China-based company, a market leader in premium smart electric vehicles, said third-quarter revenues increased 33% year-over-year to $1.83 billion. Total deliveries jumped 29% annually to a record high of 31,607 units.

Nio quarterly vehicle deliveries

Comprehensive loss attributable to ordinary shareholders, adjusted for special items, widened sharply to $522.4 million in the third quarter. Net loss attributable to the company’s ordinary shareholders, on a reported basis, was $582.3 million or $0.36 per ADS. The bottom line was negatively impacted by an 88% increase in operating expenses.

Last month, the company organized the NIO Berlin 2022 event and unveiled its products and services for the Netherlands, Germany, Denmark, and Sweden. ET7, EL7, and ET5, the new models based on new technology, are being launched via NIO Subscription, leasing programs, and direct sales to users.

Nio quarterly revenue trend

For the fourth quarter, the management expects total vehicle deliveries to be between 43,000 and 48,000 units, representing a 71.8%-91.7% increase from the prior-year period. Total revenue is forecast to be in the range of $2.44 billion to $2.70 billion, which is up 75.4-94.2% year-over-year.

Check this space to read management/analysts’ comments on quarterly reports

“Following the delivery of our new product lineup based on NIO Technology 2.0 catering to different market segments, we have witnessed strong growth momentum in user demand and robust foot traffic, especially after the debut of ET5sin stores from September, and expect the ET5 delivery will support a substantial acceleration of our overall revenue growth in the fourth quarter of 2022,” said Nio’s CEO William Bin Li.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

DG Earnings Preview: What to look for when Dollar General reports Q3 results

Discount store chain Dollar General Corporation (NYSE: DG) will be reporting third-quarter results next week. Operating nearly 20,000 stores across the US, it is one of the largest supermarket chains

Dollar Tree (DLTR): A few points to note about the discount retailer’s Q3 performance

Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were up over 1% on Thursday. The stock has dropped 13% year-to-date. The discount retailer delivered third-quarter 2023 earnings results that did not

KR Earnings: Key quarterly highlights from Kroger’s Q3 2023 financial results

The Kroger Co. (NYSE: KR) reported its third quarter 2023 earnings results today. Total company sales were $34 billion compared to $34.2 billion for the same period last year. Identical sales

Add Comment
Viewing Highlight