Overview

* XPeng ( XPEV ) Q3 revenue rises 101.8% yr/yr, driven by higher vehicle deliveries

* Gross margin improves to 20.1%, up 4.8 percentage points yr/yr

* Net loss narrows significantly from last year, reflecting operational improvements

Outlook

* XPeng ( XPEV ) expects Q4 vehicle deliveries between 125,000 and 132,000 units

* XPeng ( XPEV ) forecasts Q4 revenue between RMB21.5 bln and RMB23.0 bln

Result Drivers

* HIGHER DELIVERIES - Co attributes revenue growth to increased vehicle deliveries, particularly from new models

* COST CONTROL - Gross margin improvement linked to effective cost control and technology-related revenue streams

* TECHNICAL SERVICES - Increased revenues from after-sales services and technical R&D services contributed to results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 RMB

Revenue 20.38

bln (US$

2.86

billion)

Q3 -RMB

Adjusted 0.16

Earnings

Per ADS

Q3 -RMB 150

Adjusted mln

Net

Income

Q3 Gross 20.10%

Margin

Q3 -RMB 520

Adjusted mln

Income

from

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the auto & truck manufacturers peer group is "buy"

* Wall Street's median 12-month price target for Xpeng Inc ( XPEV ) is $28.00, about 10.7% above its November 14 closing price of $25.01

* The stock recently traded at 156 times the next 12-month earnings vs. a P/E of 2,391 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)