Li Auto Q1 Results Climb; Sees Higher Q2 Revenues, But Below Market; Stock Down In Pre-market

(RTTNews) - Chinese electric vehicle manufacturer Li Auto Inc. (LI) reported Thursday higher profit and revenues in its first quarter, with strong growth in vehicle deliveries. Further, the company projects higher revenues in its second quarter, but below the market estimates.

In the pre-market activity on the Nasdaq, Li Auto shares were losing around 2.08 percent to trade at $27.32.

In the first quarter, net income was RMB646.6 million or $89.1 million, an increase of 9.4 percent from RMB591.1 million a year ago. Net earnings per ADS attributable to ordinary shareholders was RMB0.62 or $0.08, compared with RMB0.56 in the prior year.

Adjusted net income was RMB1.0 billion or $139.8 million, compared to RMB1.3 billion last year. Adjusted net earnings per ADS were RMB0.96 or $0.13, compared with RMB1.21 a year earlier.

Total revenues were RMB25.9 billion or $3.6 billion in the first quarter, an increase of 1.1 percent from RMB25.6 billion last year.

Vehicle sales were RMB24.7 billion or $3.4 billion, 1.8 percent higher than last year.

Total deliveries for the first quarter grew 15.5 percent year-over-year to 92,864 vehicles.

Looking ahead for the second quarter, Li Auto expects total revenues to be between RMB32.5 billion or $4.5 billion and RMB33.8 billion or $4.7 billion, representing a year-over-year increase of 2.5 percent to 6.7 percent.

Analysts expect revenues of RMB34.72 billion for the second quarter. Analysts' estimates typically exclude special items.

Deliveries of vehicles are expected to be between 123,000 and 128,000 vehicles, an increase of 13.3 percent to 17.9 percent from last year.

The company said it delivered 33,939 vehicles in the month of April, representing an increase of 31.6 percent from April 2024.

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