11:26 AM EDT, 05/20/2024 (MT Newswires) -- (Updates with the company's latest stock move in the headline and first paragraph.)

Li Auto ( LI ) shares dropped more than 15% in recent Monday trading after the company reported lower adjusted earnings in Q1.

The company reported Q1 adjusted earnings Monday of 1.21 Chinese renminbi ($0.17) per diluted American depositary share, down from 1.35 renminbi per ADS a year earlier.

Three analysts surveyed by Capital IQ expected 1.46 renminbi.

Revenue for the quarter ended March 31 was 25.63 billion renminbi, up from 18.79 billion renminbi a year earlier.

Analysts polled by Capital IQ expected 27.41 billion renminbi.

For Q2, revenue is expected to be between 29.9 billion renminbi and 31.4 billion renminbi. Analysts polled by Capital IQ are expecting 36.22 billion renminbi.

The company expects to deliver 105,000 to 110,000 vehicles in Q2.

Price: 21.13, Change: -3.76, Percent Change: -15.11