Spotlight Growth
No Result
View All Result
Wednesday, February 8, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Technology

XPeng (NYSE: XPEV) Reports Revenue Growth of 19.3% During Third Quarter 2022, But Q4 Outlook Warns of Sharp Decrease in Deliveries

by admin
November 30, 2022
in Earnings, Technology
0
XPeng NYSE XPEV Q3 2022 Financial Results Spotlight Growth

XPeng NYSE XPEV Q3 2022 Financial Results Spotlight Growth

XPeng, Inc. (NYSE: XPEV) is engaged as a Chinese smart electric vehicle company, which is focused on the designing, developing, manufacturing and marketing smart EVs and related infrastructure to consumers. The Chinese EV company currently has two main models: the P7 smart sports sedan and the P5 smart family sedan.

Shares of the Chinese EV company are surging 43% through late trading on Wednesday, November 30, 2022. Over the past three months, XPeng has seen average daily volume of 28.52 million shares. However, volume of 142.46 million shares or dollar volume of around $1.51 billion, has already exchanged hands through late trading.

XPeng shares are rallying after the company reported third quarter 2022 financial results, which saw total revenues grow 19.3% year-over-year to RMB6.82 billion (US $960 million). The Chinese EV company delivered a total of 29,570 P7 & P5 vehicles during the quarter, which was an increase of 15% compared to the same period last year.

Gross margins did improve from quarter-over-quarter from 10.1% to 13.5%, but were still lower compared to 14.4% for the same period in 2021. Overall, XPeng reported a net loss of RMB2.38 billion (US $330 million) during the third quarter of 2022, which compares to a net loss of RMB1.59 billion for Q3 2021.

On a positive note, XPeng continued to expand its sales network during the quarter to a new total of 407 stores across 143 cities, as of September 30, 2022. Furthermore, the Chinese EV company continued to expand its charging station network to a total of 1,011 locations, which includes 806 XPENG self-operated supercharging stations and 205 destination charging stations.

However, XPeng is working through some serious headwinds. The company says higher costs and China’s COVID situation continue to weigh on overall results. Vice Chairman and President of XPeng, Dr. Hongdi Brian Gu, said the company would be implementing cost control measures and continue to improve operational efficiency.

On an outlook basis provided by the company, the higher costs and COVID challenges are likely to cause a deep decline in EV deliveries during the fourth quarter of 2022. Overall, management estimates total vehicle deliveries to be between 20,000 and 21,000, which would represent a year-over-year decline between 49.7% and 52.1%.

Q4 2022 revenue guidance also reflects an expected slowdown. Total revenue for the last quarter of 2022 is estimated to be between RMB4.8 billion and RMB5.1 billion. On a year-over-year basis, this represents a decline between 40.4% and 43.9%.

“Our management team has recently conducted an in-depth review of our growth strategy, products and operation. We have already carried out organization restructuring and changed some of our strategies. I am confident that our industry-leading smart and electrification technologies will allow us to build competitive products appealing to a broad customer base,” said Mr. He Xiaopeng, Chairman and CEO of XPENG. “I also would like to thank our shareholders for their valuable suggestions to us.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

Tags: Chinese EV stocksChinese stockscommon stockday tradingdow jones todayearnings seasonelectric vehicle stockselectric vehiclesemerging growthenergyEV stocksinvestinginvesting newsinvestmentmanufacturingnewsNYSEpublic companysalesservicesSpotlight GrowthSpotlight Growth Stocksstock marketstocksstocks to watchtechTechnologytechnology stockstradingwebull wallstreetbetsXPengXPeng newsXPeng P5XPeng P7XPeng stock newsXPEVXPEV stock
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Innovative Eyewear NASDAQ LUCY Lucyd Lyte 2 Smart Glasses Spotlight Growth

Innovative Eyewear (NASDAQ: LUCY) Debuts Lucyd Lyte 2.0 Audio Eyewear Product

February 7, 2023
American Resources Corporation NASDAQ AREC Reduced Debt By 9 Million Spotlight Growth

American Resources Corporation (NASDAQ: AREC) Reduces Debt by Over $9 Million

February 7, 2023
Its All Greek to Me What Are Option Greeks Spotlight Growth

It’s All Greek to Me: What Are Option Greeks and How Do They Impact Traders?

February 6, 2023
Unleashing the Power of 5G The Future of Mobile Technology Spotlight Growth

Unleashing the Power of 5G: The Future of Mobile Technology

February 6, 2023

Recent News

Innovative Eyewear NASDAQ LUCY Lucyd Lyte 2 Smart Glasses Spotlight Growth

Innovative Eyewear (NASDAQ: LUCY) Debuts Lucyd Lyte 2.0 Audio Eyewear Product

February 7, 2023
American Resources Corporation NASDAQ AREC Reduced Debt By 9 Million Spotlight Growth

American Resources Corporation (NASDAQ: AREC) Reduces Debt by Over $9 Million

February 7, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested