Xpeng Earnings

Xpeng delivered 94,008 vehicles in the first quarter, exceeding the upper end of its guidance range.

Xpeng today announced its Q4 2024 financial results and held an analyst call afterwards. This post is a live update from that call.

Xpeng reported a net loss of RMB 1.33 billion ($180 million) in the fourth quarter, lower than analysts' expectations of RMB 1.593 billion, but gross margins slipped slightly from the third quarter.

Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations.

Xpeng reported revenues largely in line with expectations in the second quarter, with gross margin increasing sequentially for the fourth consecutive quarter and net loss narrowing slightly from the first quarter.

Xpeng's first-quarter revenue beat Wall Street estimates, gross margin rebounded further to a new high since the third-quarter of 2022, despite conservative guidance for second-quarter deliveries.

Xpeng guided for first-quarter deliveries between 21,000 and 22,500 units, meaning it expects to deliver 8,205-9,705 units in March.

Xpeng guided for fourth-quarter deliveries in the range of 59,500 to 63,500 units, meaning it expects to deliver a total of 39,498 to 43,498 vehicles in November and December.

Xpeng guided for vehicle deliveries in the range of 39,000 to 41,000 units in the third quarter, meaning it expects to deliver a total of 27,992 to 29,992 vehicles in August and September.

Xpeng reported a negative 2.5 percent vehicle margin for the first quarter, a decline attributed to increased sales promotions and the expiration of the NEV subsidy.