Li Auto Q2 results are here
16 August 2022Li Auto Inc. (LI) reported its unaudited second quarter financial results on Monday. The Chinese automaker fell short of analyst estimates for the quarter.
World’s 16th largest automaker reported revenue of $1.207 billion vs. $1.416 billion expected.
The company reported a loss per share of -$0.04 for the quarter vs. -$0.02 loss per share expected.
”We delivered solid second quarter results in an environment with challenges and uncertainties through operational and product excellence. Our vehicles continued to win family users, not only illustrating the strength of our vehicle and the growing appeal of our brand, but also reaffirming the effectiveness of our strategy,” Xiang Li, founder, chairman, and CEO of Li Auto said in a press release.
Tie Li, CFO of Li Auto also commented on the latest results: ”We are pleased with our solid second quarter results in the face of numerous pandemic-related challenges. Driven by our strong vehicle deliveries, our revenues reached RMB8.73 billion for the second quarter, up 73.3% year over year. The power of our product, our execution consistency, and operational resilience enabled us to mitigate the cost inflation affecting the entire industry. As a result, our second quarter gross margin remained relatively solid at 21.5%, up 2.6 percentage points year over year, and our cash flow from operations reached RMB1.13 billion. In addition, with the ongoing at-the-market offering of up to US$2.0 billion of American depositary shares, we are further strengthening our capital base to support our robust growth trajectory going forward.”
Li Auto delivered 28,687 vehicles in Q2 – an increase of 63.2% year-over-year.
Li Auto Inc. (LI) chart
The share price of Li Auto was down by around 1% on Monday, trading at $32.11 a share.
Here is how the stock has performed in the past year:
- 1 Month -18.62%
- 3 Month +44.73%
- Year-to-date -0.72%
- 1 Year +15.22%
Li Auto price targets
- Citigroup $58
- UBS $52
- Morgan Stanley $41
- Barclays $40
- Deutsche Bank $35
- Jefferies $44
Li Auto is the 585th largest company in the world with a market cap of $30.74 billion.
You can trade Li Auto Inc. (LI) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: Li Auto Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap
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