XPeng Full Year 2023 Earnings: Revenues Disappoint
XPeng (NYSE:XPEV) Full Year 2023 Results
Key Financial Results
Revenue: CN¥30.7b (up 14% from FY 2022).
Net loss: CN¥10.4b (loss widened by 14% from FY 2022).
CN¥11.92 loss per share (further deteriorated from CN¥10.67 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
XPeng Revenues Disappoint
Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) was mostly in line with analyst estimates.
In the last 12 months, the only revenue segment was Auto Manufacturers contributing CN¥30.7b. Notably, cost of sales worth CN¥30.2b amounted to 99% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥6.56b (58% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥543.0m. Explore how XPEV's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in the US.
Performance of the American Auto industry.
The company's shares are down 4.9% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for XPeng that we have uncovered.
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