Li Auto ($LI) Racing Higher.

26 Şub

Li Auto (LI) reported strong fourth-quarter earnings early Monday. The Chinese EV maker guided somewhat lower on Q1, but LI stock raced higher.

Li Auto Earnings
Li Auto earned 60 cents per ADS, up from 4 cents a year earlier. Revenue soared 130% to $5.88 billion. Analysts expected Li Auto earnings per ADS of 44 cents on revenue of $5.5 billion.

Li Auto already reported on Jan. 1 that it delivered a record 131,805 vehicles, with its cheapest EV, the L7, accounting for 52,552, or 40%.

Li Auto Outlook
The EV maker forecast Q1 revenue of $4.4 billion to $4.53 billion, up 66%-71% vs. a year earlier in local currency terms, though that's below analyst forecasts. Deliveries are expected to be 100,000-103,000, up 90%-96% vs. a year earlier but down from Q4's record 131,805. That's also under Wall Street targets.

Li (LI) delivered 31,365 EVs in January, up 106% vs. a year earlier but down 38% vs. December. That implies February-March sales of 68,635-71,635.

China auto sales are typically weak in January-February. Sales tend to peak at year-end, while the extended China New Year holiday has a big impact on production and sales.

Li Auto (LI) will report February sales on Friday, March 1, along with XPeng (XPEV), Nio (NIO) and several other China EV makers. EV and battery giant BYD (BYDDF) will report on March 1 or 2.

Li Auto Upcoming Models
Li Auto currently sells three premium SUVs, the L7, L8 and L9. All are extended range electric vehicles (EREVs), essentially a form of plug-in hybrid.

On March 1, Li Auto (LI) will formally launch the Mega MPV, or minivan, its first fully battery electric vehicle (BEV). That had been pushed back from early in the year. The electric MPV, or minivan, segment is getting crowded, with the Li Mega joining the less expensive, but still premium, XPeng X9 and BYD's Denza D9.

Li also will unveil the 2024 versions of the L7, L8 and L9 on March 1. The automaker also plans to launch three more BEV models in the second half of 2024.

Li Auto Stock
Li Auto stock jumped 19% to 41.44 in Monday market trading. Shares are down 7% in 2024 of Feb. 23, but have rebounded strongly since hitting a seven-month low of 26.43 on Jan. 22.