Li Auto (LI) Earnings: 4Q Revenue Forecast Surpasses Estimates with Boost in Vehicle Deliveries and Sales

Li Auto’s 4Q revenue forecast surpasses estimates, with expected revenue between 38.46 billion yuan to 39.38 billion yuan, higher than the estimated 36.58 billion yuan.

The company anticipates vehicle deliveries to be between 125,000 to 128,000 units, exceeding the estimated 112,264 units.

Li Auto’s third quarter results revealed revenue of 34.68 billion yuan, a significant increase from 9.34 billion yuan year on year (y/y), and higher than the estimated 33.74 billion yuan.

Vehicle deliveries in the third quarter totaled 105,108 units, a substantial rise from 26,524 units y/y, and more than the estimated 101,686 units.

Vehicle sales for the third quarter reached 33.62 billion yuan, up from 9.05 billion yuan y/y, and surpassed the estimated 32.38 billion yuan.

Adjusted net income attributable to holders was 3.48 billion yuan, a turnaround from a loss of 1.24 billion yuan y/y.

Adjusted earnings per American depositary receipts were 3.29 yuan, compared to a loss per share of 1.27 yuan y/y.

Earnings per American depositary receipts were 2.67 yuan, a recovery from a loss per share of 1.68 yuan y/y.

The gross margin was 22%, an improvement from 12.7% y/y, and slightly higher than the estimated 21.9%.

The company’s current standing is 25 buys, 3 holds, and 1 sell.