XPEV Q4 Loss Narrows Y/Y, Revenues Rise on Strong Vehicle Delivery

XPeng XPEV reported a fourth-quarter 2024 loss of 19 cents per share, narrower than the prior-year quarter’s loss of 21 cents. Revenues of $2.21 billion increased from $1.84 billion in the year-ago quarter, primarily driven by an impressive 52.1% year-over-year increase in vehicle deliveries.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Key Q4 Takeaways

XPeng delivered 91,507 vehicles in the fourth quarter of 2024. At the end of 2024, the company had 690 stores, covering 226 cities and a strong self-operated charging station network of 1,920 stations, including 928 XPeng S4 and S5 ultra-fast charging stations.

XPEV’s revenues from vehicle sales were $2.01 billion in the reported quarter, representing an increase of 20% from the year-ago period. Gross margin from vehicle sales was 10% in the fourth quarter of 2024, compared with 4.1% for the same period of 2023. Revenues from Services and others were $200 million and increased 74.4% on a year-over-year basis. Gross margin from Services and others was 59.6% compared with 38.2% in the prior-year quarter. Total gross margin for the fourth quarter was 14.4%, compared with 6.2% for the prior-year quarter.

Research and development expenses increased 53.4% year over year in the reported quarter and stood at $270 million. Selling, general and administrative expenses increased 17.5% on a year-over-year basis and amounted to $310 million.

As of Dec. 31, 2024, XPEV had cash and cash equivalents of RMB18.59 billion, down from RMB21.13 billion as of Dec. 31, 2023. Long-term borrowings as of Dec. 31, 2024, were RMB5.67 billion compared to RMB5.65 billion as of Dec. 31, 2023.

Q1 Outlook

For the first quarter of 2025, XPEV expects vehicle deliveries between 91,000 and 93,000, suggesting a year-over-year upsurge of 317-326.2%. Total revenues are anticipated to be $2.07-$2.17 billion, indicating a year-over-year rally of 129.1-139.8%.

Zacks Rank & Other Key Picks

XPeng currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the auto space are Bridgestone BRDCY, Byd Co. BYDDY and Bayerische Motoren Werke BAMXF. BRDCY, BYDDY and BAMXF currently carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for BRDCY’s 2025 EPS is currently pegged at $1.72, up by a cent over the past 30 days and suggesting growth of 24.64% on a year-over-year basis.

The Zacks Consensus Estimate for BYDDY’s 2025 earnings has moved north 4.3% over the past 30 days and suggests year-over-year growth of 26.05%. It is currently pegged at $5.11 per share.

The Zacks Consensus Estimate for BAMXF’s 2025 EPS has been steady at $14 over the past 30 days and suggests growth of 11.11% on a year-over-year basis.

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This article originally published on Zacks Investment Research (zacks.com).

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