06:36 AM EDT, 03/20/2026 (MT Newswires) -- XPeng ( XPEV ) issued a downbeat first-quarter revenue outlook on Friday, although the Chinese electric vehicle manufacturer's sales topped expectations in the previous three-month period.

The company anticipates revenue to come in between 12.2 billion renminbi ($1.77 billion) and 13.28 billion renminbi ($1.92 billion) for the ongoing quarter, while the current consensus on FactSet is for 15.01 billion renminbi. The guidance implies a year-over-year drop of about 16% to 23%, the electric vehicle maker said.

Deliveries are pegged at 61,000 to 66,000 vehicles for the first quarter, reflecting an annual decrease of about 30% to 35%. The company delivered 116,249 vehicles in the previous quarter, representing a 27% gain from the prior-year period.

"In 2025, Xpeng ( XPEV ) delivered a total of 429,445 vehicles, representing a 125.9% year-over-year increase," Chief Executive Xiaopeng He said in a statement.

For the three months through December, revenue soared to 22.25 billion renminbi from 16.11 billion renminbi a year earlier, topping the Street's view for 21.48 billion renminbi. XPeng's ( XPEV ) New York stock exchange-listed American depositary receipts fell 2.3% in the most recent premarket activity.

The company reported adjusted earnings of 0.52 renminbi per American depositary share, compared with a loss of 1.47 renminbi the year before. Four analysts polled by FactSet expected a per-share loss of 0.15 renminbi.

Vehicle sales climbed 30% to 19.07 billion renminbi, mainly due to the higher deliveries in the period, Xpeng ( XPEV ) said. Revenue from services and others soared 122% to 3.18 billion renminbi, buoyed by increased revenue from technical research and development services rendered to a car manufacturer, among other factors, according to the company.

Gross margin rose to 21.3% versus 14.4% in the 2024 quarter.