Nio Q3 2022 earnings revenue loss guidance

Employees stand subsequent to a ET7 sedan at a NIO Inc. dealership in Shanghai, China, on Wednesday, June 8, 2022.

Qilai Shen | Bloomberg | Getty Images

Chinese electrical automobile maker Nio on Thursday reported a loss of $577.9 million for the third quarter, considerably wider than a year in the past, regardless of sturdy revenue following a 29% enhance in automobile gross sales.

Here are the important thing numbers from Nio’s third-quarter earnings report.

  • Revenue: $1.83 billion, up 32.6% from the third quarter of 2021.
  • Adjusted loss per share: 30 cents, versus 6 cents per share within the year-ago interval.
  • Cash at quarter finish: $7.2 billion, down from $8.1 billion as of June 30.

Shares of the company rose 1.6% in premarket buying and selling Thursday.

Nio mentioned on Oct. 1 that it delivered 31,607 vehicles within the third quarter, up 29% from the third quarter of 2021 and a file for the company.

Nio’s gross margin was 13.3%, barely improved versus the 13% margin it reported within the second quarter, however down from 20.3% a year in the past. Nio mentioned the year-over-year margin decline was on account of decrease gross sales of regulatory credit, increased prices which have squeezed margins on its automobiles, and better spending on its charging and repair networks.

CEO William Bin Li mentioned in a press release that the company has seen sturdy curiosity in its new ET5 sedan, which he expects “will support a substantial acceleration of our overall revenue growth in the fourth quarter of 2022.” The ET5, the company’s second sedan, started transport in September.

With the ET5 now accessible, Nio is working to extend manufacturing and shorten buyer ready instances, Li mentioned. Nio mentioned that traders ought to count on it to ship 43,000 and 48,000 automobiles within the fourth quarter, producing complete revenue between RMB17,368 million ($2.4 billion) and RMB19,225 million ($2.7 billion).

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