- NIO Inc (NYSE:NIO) reported second-quarter FY22 sales growth of 21.8% year-on-year, to RMB 10.3 billion ($1.54 billion), beating the consensus of $1.43 billion.
- Q2 vehicle deliveries increased 14.4% Y/Y to 25,059 units.
- Vehicle sales grew 21% Y/Y to RMB9.57 billion ($1.43 billion), and the vehicle margin contracted 360 basis points to 16.7%.
- Gross profit for the quarter decreased 14.8% to RMB1.34 billion ($200.1 million) and the gross margin contracted by 560 basis points to 13%.
- Loss from operations widened to RMB(2.85) billion or $(424.8) million.
- The company held $8.1 billion in cash and equivalents as of June 30, 2022.
- Adjusted EPS loss of $(0.20) missed the analyst consensus of $(0.17).
- Outlook: NIO sees Q3 vehicle deliveries of 31,000 – 33,000.
- The company expects Q3 revenue of RMB12.845 billion ($1.918 billion) – RMB13.598 billion ($2.030 billion), against the consensus of $2.320 billion.
- Price Action: NIO shares are trading lower by 3.97% at $16.43 in premarket on the last check Wednesday.
- Photo Via Company
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