May 21 - Shares of XPeng (XPEV, Financial) jumped about 12% on Wednesday after the electric vehicle maker posted stronger-than-expected first-quarter results.
Revenue rose 141.5% year-over-year to RMB15.81 billion ($2.19 billion), topping the RMB15.69 billion consensus estimate. The surge was supported by record deliveries of 94,008 vehicles in the quarter, a 331% increase from the same period last year.
Adjusted diluted net loss per American depository share narrowed to RMB0.45, down from RMB1.49 a year earlier and below the projected RMB1.51 loss.
Gross margin improved to 15.6% from 12.9% a year ago. The company ended the quarter with RMB45.28 billion in cash, short-term investments, and deposits, up from RMB41.96 billion at the end of 2024.
XPeng's CEO, Xiaopeng He, said the company hit a new quarterly delivery record despite seasonal trends, adding that more high-volume models are on the way as part of its long-term strategy.
For the second quarter, XPeng expects to deliver between 102,000 and 108,000 vehicles, with revenue seen rising 116% to 131% year-over-year to RMB17.5 billion–RMB18.7 billion.
