Nio Inc. announces record vehicle deliveries for the third quarter
Nio said its vehicle deliveries in the quarter reached 12,206, representing a surge of more than two folds on a year-over-year basis
avatar
Staff or Guest writer for The Dog of Wall Street.
2020-11-18 13:42

Nio Inc. (NIO) announced its financial results for the third quarter that surpassed consensus forecast. It also issued an upbeat revenue outlook for the current quarter.

The China-based electric-car manufacturer reported a loss of 1.047 billion yuan for the three-month period ended September 30, well below a loss of 2.52 billion yuan in the comparable period last year. On an adjusted basis, loss was $147 million, or 12 cents per ADR, narrower than a loss of 20 cents per ADR forecasted by analysts.

Revenue came in at $666.6 million, representing a substantial rise of 146 percent from last year, and just ahead of consensus estimate of $664 million. 

The company’s CFO Steven Wei Feng said in a statement “with another quarter of record high deliveries in the third quarter of 2020, plus further improvements in average selling price, material cost and manufacturing efficiency, our vehicle margin increased to 14.5%. Additionally, we achieved positive cash flow from operating activities for the second sequential quarter.”

Nio said its vehicle deliveries in the quarter reached 12,206, representing a surge of more than two folds from 4,799 vehicles it delivered in the same period last year, and 10,331 vehicles in the prior quarter. For the fourth quarter, the company forecasted vehicle deliveries in the range of 16,500 to 17,000. 

The company also issued its revenue guidance for the current quarter. It expects revenue in the range of $921.8 million to $947.9 million, representing a surge between 119.7 percent to 126 percent on a year-over-year basis. On the other hand, analysts polled by FactSet expect Nio to report revenue of about $813 million for the current quarter. 

Nio (NYSE: NIO) shares slightly moved down in the mid-day trading Wednesday despite reporting better-than-expected quarterly results. NIO stock is trading on heavy volume of 200 million shares, as compared to daily average volume of 149.54 million shares. 


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Published On
2020-11-18 13:42

avatar
About the Author
Staff or Guest writer for The Dog of Wall Street.

NIO
Analyst Ratings
Target Price $268.94
# of Analysts 13
Last updated 2020-11-22


Which electric vehicle stock should you choose?
The electric vehicle sector continues to be one of the most popular industries for people to invest in.
By Mike Sakuraba | 1 week ago

Is CCIV a buy yet?
After months of steady declines, is the impending merger between CCIV (NYSE:CCIV) and Lucid Motors worth your investment at the current depressed price levels?
By Mike Sakuraba | 3 weeks ago

Can We Trust Tesla in the Future?
Everyday it seems to be something new with electric vehicle industry leader Tesla (NASDAQ:TSLA), and one has to wonder if investors are starting to lose patience.
By Mike Sakuraba | 1 month ago

NIO is back on our radar
all Street is bullish as well, with a median analyst price target of $55.46, which represents an impressive 40% upside from the stock’s current price levels.
By Mike Sakuraba | 1 month ago

3 Stocks for Early April
With the NASDAQ and growth sectors rebounding nicely last week, let’s take a look at three stocks with some major catalysts heading into April, the first month of the second quarter.
By Mike Sakuraba | 2 months ago

3 Stocks to Watch on the Way Down
These corrections provide investors with incredible opportunities to buy stocks at discounted prices.
By Mike Sakuraba | 3 months ago