Li Auto already reported its fourth-quarter earnings earlier today, while Nio will report its earnings on March 5.
Xpeng (NYSE: XPEV) announced today that it will release its unaudited fourth-quarter and fiscal year 2023 reports on Tuesday, March 19, before the US markets open.
Xpeng delivered a record 60,158 vehicles in the fourth quarter, the first time it has exceeded 60,000 units, and lies within the previously guided range of 59,500 to 63,500 units. That's up 170.93 percent year-on-year and up 50.36 percent from the third quarter.
The company previously guided fourth-quarter revenue to be in the range of RMB 12.7 billion ($1.79 billion) to RMB 13.6 billion, an increase of about 86.1 percent to 99.3 percent year-on-year.
For the full year 2023, Xpeng delivered 141,601 vehicles, up 17.26 percent year-on-year.
Xpeng's gross margin in the third quarter was -2.7 percent, an improvement of 1.2 percentage points from -3.9 percent in the second quarter.
The company's management said in its third-quarter earnings call that it is confident of achieving a significant rebound in gross margin in the fourth quarter.
Earlier today, Xpeng's local peer Li Auto (NASDAQ: LI) reported strong fourth-quarter results, while its other peer Nio (NYSE: NIO) is set to report its results on March 5 before the US stock markets open.
Li Auto reported record fourth-quarter revenue of RMB 41.73 billion yuan, beating market expectations of 39.8 billion yuan.
Li Auto's net income for the fourth quarter was RMB 5.75 billion, an increase of 2,068.2 percent from RMB 265.3 million in the same period last year, and an increase of 104.5 percent from RMB 2.81 billion in the third quarter.
Li Auto's gross margin for the fourth quarter was 23.5 percent, up from 20.2 percent in the same period last year and a further improvement from 22.0 percent in the third quarter.
Xpeng management will host an earnings call at 8:00 am US Eastern Time (8:00 pm Beijing Time).
For participants wishing to join the call via telephone, pre-registration can be completed by visiting the link provided below.
https://s1.c-conf.com/diamondpass/10036740-6pn4dk.html
A replay of the conference call will be available about one hour after the call ends through March 26 by dialing the following telephone numbers:
US: +1-855-883-1031
International: +61-7-3107-6325
Hong Kong, China: 800-930-639
Chinese mainland: 400-120-9216
Replay Code: 10036740
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