- 3rd Quarter Deliveries Forecast: NIO expects deliveries between 61,000 and 63,000 units, surpassing the estimate of 56,770 units.
- 3rd Quarter Revenue Forecast: Predicted revenue between 19.11 billion yuan and 19.67 billion yuan, compared to an estimate of 19.32 billion yuan.
- Revenue: Generated 17.45 billion yuan, a significant increase of 99% year-over-year, exceeding the estimate of 17.38 billion yuan.
- Gross Margin: Improved to 9.7%, up from 1% year-over-year, and better than the estimate of 8.74%.
- Deliveries: Delivered 57,373 vehicles, dramatically higher than last year’s 23,520, and above the estimate of 55,332 vehicles.
- Vehicle Sales: Reached 15.68 billion yuan, compared to 7.19 billion yuan last year, and surpassing the estimate of 15.4 billion yuan.
- Vehicle Margin: Increased to 12.2% from 6.2% year-over-year, exceeding the estimate of 11.5%.
- Adjusted Operating Loss: Narrowed to 4.70 billion yuan, a 14% decrease year-over-year, and better than the projected loss of 4.86 billion yuan.
- Total Operating Expenses: Rose by 12% year-over-year to 6.90 billion yuan, slightly above the estimate of 6.78 billion yuan.
- Stanley Yu Qu: “Due to ongoing cost optimizations, our vehicle gross margin increased to 12.2% in the second quarter. We will continue to focus on efficient R&D and infrastructure investment, leverage the growth potential in the mass market, adopt flexible market strategies and continuously optimize our product portfolio.”
- “We are confident that these efforts will result in steady improvements in gross profit and cost efficiency in the future.”
- Analyst Ratings: 19 buys, 13 holds, and 1 sell.
Second Quarter Results:
Comments from NIO’s CFO:
Market Sentiment:
A look at NIO Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 3 | |
| Resilience | 5 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Looking into the long-term outlook for NIO, the company’s Smartkarma Smart Scores provide a snapshot of various aspects. NIO’s strength lies in its resilience, indicating a robust ability to weather market challenges. With a growth score that shows promise for future development, NIO is positioned for potential expansion. While the value score is moderate, suggesting room for improvement in terms of valuation, the momentum score indicates steady progress. Despite a low dividend score, NIO’s focus on electric vehicles and battery charging services showcases its commitment to cutting-edge technology in the global automotive market.
NIO Inc., a manufacturer and distributor of electric vehicles and related components, is set to benefit from a solid resilience score, pointing towards stability amidst market volatility. The company’s emphasis on growth underscores its outlook for continued advancement in the electric vehicle sector. Although the value score is relatively modest, there is room for enhancement, while a respectable momentum score showcases NIO’s steady performance. While dividends may not be a primary focus for NIO, its commitment to innovative automotive solutions positions the company as a key player in the evolving global automotive landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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