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Key Takeaways
- Nio's U.S.-listed shares moved lower Friday after the electric vehicle maker's fourth-quarter results missed estimates.
- Nio reported a bigger loss than expected, despite the fact that both revenue and deliveries fell short.
- The Chinese company's first-quarter projections were also below analysts' forecasts.
The U.S.-listed stocks of Chinese electric vehicle manufacturer Nio (NIO), fell Friday after its fourth quarter sales fell short analysts’ expectations.
The EV maker announced Friday that it lost an adjusted 3,17 Chinese Yuan ($0.44) each share, which was higher than the analysts’ expectation of 2,49 yuan per share. The loss came from $2.7 billion in revenue. This is almost half a billion dollars below the analyst consensus calculated by Visible Alpha.
Nio delivered only 72,689 cars in the final quarter 2024. This is also below the 73,144 predicted by analysts.
The company said that it expects 41,000 to 43,00 vehicles to be delivered in the first three months of this year. Revenue is expected to range from $1.69 to $1.76 Billion. Nio's forecasts are well below the current analyst consensus of 62,240 deliveries and $2.36 billion in revenue.
The EV manufacturer also missed estimates in the previous quarter and said that this quarter lower average selling prices negatively affected revenue as many Chinese competitors cut prices to gain a larger share of the market.
Nio's U.S.-listed shares were down around 4% premarket Friday following an 8% drop Thursday. They were down almost 8% in the last year when they entered the day.
