1. Home
  2. Earnings Miss
  3. Nio Misses Q1 Deliveries, But Expert Says EV Maker ‘Seems To Be On The Upswing’

Nio Misses Q1 Deliveries, But Expert Says EV Maker ‘Seems To Be On The Upswing’

1
0

Nio Inc. (NYSE:NIO), the Chinese electric vehicle maker, saw its stock plummet following the release of its first-quarter earnings for 2024, which missed analysts’ expectations and showed a significant decline in vehicle deliveries.

The disappointing results led to a stock decline of 6.5% to $4.92 at the time of publication Thursday.

Here’s a breakdown of the financials and expert insights that could offer a glimmer of hope for investors.

Nio Stock’s Slide On Q1 Earnings Miss

Nio reported Q1 revenue of $1.37 billion, down 7.2% year-over-year and a steep 42.1% drop from the previous quarter, missing the analyst consensus of $1.48 billion.

Vehicle deliveries fell to 30,053 units, a sharp 39.9% decline Q/Q. The company posted an adjusted loss of 33 cents per share, slightly higher than the expected loss of 31 cents.

Gross margin for the quarter saw an improvement, reaching 4.9% compared to 1.5% a year ago but down from 7.5% in the previous quarter.

More details here: EV Maker Nio’s …

Full story available on Benzinga.com

Visited 1 times, 1 visit(s) today