Li Auto (LI) reported a surprise Q4 profit before the stock market open on Thursday, as the Chinese EV market remains hot. Li Auto stock jumped.


Li Auto Earnings Report

Estimates: Analysts expected a loss of 4 cents a share on revenue of $565.5 million. 

Results: Li Auto earnings came in at 2 cents a share. Revenue jumped 39% to $635.5 million.

Outlook: Li Auto sees Q1 revenue of $450.6 million to $493.5 million, up 246%-279% vs. a year earlier. It expects Q1 deliveries of 10,500-11,500 vehicles, up 263%-297% vs. Q1 2020. Li Auto previously reported January deliveries soared 356% year over year to 5,379, but were below December 2020’s 6,126.

Li Auto only has one vehicle in production, the Li One SUV. It’s technically a hybrid because it has a small gas engine to extend its range.

Li Auto reported earlier that deliveries reached 14,464 vehicles in the fourth quarter, a 67% jump from Q3 when deliveries totaled 8,660. It had about 32,600 deliveries for all of 2020.

By comparison, Nio (NIO) sold 17,353 units in Q4 and 43,728 for the year, while Xpeng (XPEV) sold 12,964 in Q4 and 27,041 for the year.

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Li Auto Stock

Shares popped 5.9% to 30.38 in premarket trading on the stock market today. Li Auto stock has seen its relative strength line tumble in recent months, according to MarketSmith chart analysis. Its RS Rating is 82, while its EPS Rating is 56.

Wall Street is bullish on Li Auto stock. Eleven of the 14 analysts covering it have a buy rating. The median 12-month price forecast is 40.46.

Among other Chinese EV stocks, Nio climbed 1.8% and Xpeng rose 1.6% early Thursday. Nio also reports Monday. Tesla (TSLA) fell 1.7%.

Earlier this week, Texas-based Hyliion (HYLN), which makes EV powertrains for commercial fleets, reported a loss of 13 cents a share in the fourth quarter.

Please follow Adelia Cellini Linecker on Twitter @IBD_Adelia.


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