Xpeng shares climb on record revenue in Q4

Xpeng Inc (NYSE: XPEV) is trading up in premarket on Tuesday after reporting record revenue for its fourth financial quarter.

Xpeng revenue jumped 154% in Q4

The electric vehicles company saw a whopping 154% annualised growth in revenue to ¥13.05 billion ($1.84 billion) in Q4 – that nonetheless fell short of ¥13.28 billion that experts had forecast.

$XPEV delivered 60,158 vehicles in its recently concluded quarter – up 171% versus a year ago. Xiaopeng He – the chief executive of Xpeng Inc said in a press release today:

Xpeng stock is still down more than 25% versus the start of 2024.  

Xpeng turned its vehicle margin positive

Xpeng improved its vehicle margin by some 10% sequentially in the fourth quarter as “cost reduction and operational improvement began to bear fruit”.

That helped the EV maker significantly narrow its net loss from ¥2.36 billion to ¥1.35 billion in Q4. On a per share basis, it lost ¥0.99 (adjusted), as per the earnings report.

$XPEV now forecasts up to 22,500 deliveries in its fiscal first quarter. The New York listed firm ended its recent quarter with ¥45.70 billion in cash and equivalents (including restricted cash, short-term investments and time deposits).

Wall Street currently has a consensus “overweight” rating on Xpeng shares.