LI Auto (LI) Q2 Loss Narrower Than Expected, Q3 View Solid
Li Auto LI reported second-quarter 2021 loss per share of 4 cents a share, narrower than the Zacks Consensus Estimate of 6 cents on robust deliveries. The bottom line also improved more than 90% from the year-ago period. The China-based electric vehicle maker posted revenues of $780.4 million, up a whopping 158.7% year over year.
Li Auto Inc. Sponsored ADR Price, Consensus and EPS Surprise
Li Auto Inc. Sponsored ADR price-consensus-eps-surprise-chart | Li Auto Inc. Sponsored ADR Quote
Li Auto delivered 17,575 vehicles in the second quarter of 2021, skyrocketing 166.1% year over year. Revenues generated from vehicle sales amounted to $759.4 million. Importantly, vehicle margin for the reported quarter was 18.7% versus the year-ago period’s 13.7%. Higher delivery volumes and average selling price as well as lower material cost led to the improvement in vehicle margin. Gross margin was 18.9% compared with 13.3% in second-quarter 2020 on the back of robust sales and increased vehicle margin. R&D and SG&A costs were $101.2 million and $129.4 million, reflecting a year-over-year surge of 224% and 256%, respectively.
Cash and cash equivalents totaled $1,873.4 million as of Jun 30, 2021. Long-term debt was $861.4 million. Free cash flow at the end of second-quarter 2021 totaled $152.1 million. At quarter-end, 97 Li Auto retail stores were operational across 64 cities along with 167 servicing centers
Li Auto — which shares space with NIO Inc. NIO, XPeng XPEV and BYD Co Ltd BYDDY in the same industry — expects third-quarter 2021 deliveries in the band of 25,000-26,000 vehicles, signaling a year-over-year uptick in the range of 188.7-200.2%. Revenues are envisioned in the range of $1.08-$1.12 billion, indicating a year-over-year jump of 177.8-188.9%. Li Auto currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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