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Li Auto Inc. (NASDAQ: LI) released Q3 results before the market open in the US on Thursday. Let’s take a look at how the Chinese company performed.
World’s 12th largest automaker reported revenue of $4.749 billion for Q3 (up by 271.2% year-over-year), above analyst estimate of $4.581 billion.
EPS reported at $0.449 per share vs. $0.368 per share expected.
The electric vehicle company delivered 105,108 cars in the previous quarter – up by 296.3% from the same period in 2022.
Li Auto has delivered 284,647 vehicles so far this year.
“In response to the evolving market demand in the third quarter, we continued to strengthen synergies across production, supply, and sales, while enhancing our production capability. With these efforts, we achieved a number of breakthroughs across our delivery performance during the quarter, becoming China’s first emerging new energy automaker to reach the milestone of 500,000 cumulative deliveries. Each of our three Li L series models recorded over 10,000 monthly deliveries for three consecutive months since August, maintaining our position as the sales champion among SUVs and NEVs priced over RMB300,000 in China. As we further expand our business scale, we will continue to maintain our profitability at a healthy level, while investing in research and development to propel the long-term growth of our business,” Chairman and CEO of Li Auto, Li Xiang said in a press release to investors.
The stock was down by around 2% on Thursday despite posting better-than-expected results.
Shares of Li Auto are up by 118.68% in the past year at $38.28 a share.
Li Auto price targets
Li Auto Inc. is the 453rd largest company in the world with a market cap of $38.17 billion, according to CompaniesMarketCap.
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Sources: Li Auto Inc., TradingView, MarketWatch, CompaniesMarketCap, Wikipedia, Benzinga, Macrotrends
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