Li Auto Inc LI reported fiscal third-quarter 2024 income progress of 23.6% year-on-year to $6.11 billion, topping the analyst consensus of $5.84 billion.
It clocked an adjusted web earnings per ADS of $0.52, which beat the analyst consensus of $0.42. The inventory value fell after the print.
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Automobile gross sales elevated 22.9% to $5.9 billion due to elevated automobile deliveries. Complete automobile deliveries had been 152,831 models within the quarter, a forty five.4% year-over-year improve.
The automobile margin declined by 30 bps 12 months over 12 months to twenty.9%, and the gross margin decreased by 50 bps 12 months over 12 months to 21.5%.
Adjusted earnings from operations was $636.0 million, up by 49.1% Y/Y. Adjusted web earnings elevated 11.1% Y/Y to $548.8 million.
Li Auto held money and equivalents of $15.2 billion as of September 30, 2024, and generated $1.60 billion in working money circulate for the quarter. Free money circulate was $1.30 billion.
As of September 30, 2024, the corporate had 479 retail shops overlaying 145 cities, 436 servicing facilities, Li Auto-authorized physique and paint retailers working in 221 cities, and 894 supercharging stations with 4,286 charging stalls.
On October 18, 2024, Li Auto hit the a million cumulative automobile deliveries milestone, simply 58 months after delivering its first automobile in December 2019.
Outlook: Li Auto expects fourth-quarter income of $6.2 billion—$6.5 billion, representing an improve of three.5%–10.0% 12 months over 12 months versus analyst consensus of $6.76 billion.
LI expects fourth-quarter automobile deliveries of 160,000—170,000, representing a rise of 21.4%–29.0% 12 months over 12 months.
Li Auto inventory plunged 23% year-to-date because it battled a weak home financial system and worldwide protectionist tariffs partially offset by China’s stimulus measures.
Value Motion: LI inventory is down by 6.01% at $27.20 in premarket at the final test on Thursday.
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