EV - Xpeng Stock Rose on the Q3 Preview Despite Market Difficulties

November, 29 2022 02:07 PM Eaton Vance Corporation

Xpeng ( NYSE:XPEV )

The quarterly earnings report for Xpeng ( NYSE:XPEV ) is set to be released on Wednesday, November 30, before the market’s opening.

The consensus estimate for earnings per share is now at -$0.28 (a Y/Y decrease of 3.7%), while the average revenue estimate is $995.53 million (a Y/Y increase of 12.1%).

Estimates of EPS have been revised one time higher during the last three months, while not one change has been made downward. There has been one adverse modification to the projections of revenues and zero positive revisions.

Guangzhou’s electric vehicle (EV) maker reported results for the second quarter that fell short of analysts’ expectations. The company’s margins were squeezed due to increasing operational expenditures, including higher raw materials and battery prices.

Xpeng has also provided estimates for the next quarter’s delivery that are lower than anticipated. The decreased projection reflects a reduction in demand that hurts not just one but several Chinese manufacturers of electric vehicles.

The final tally for total deliveries in Q3 was 29,570, down 15% year over year and below the projection range of 29,000 to 31,000 that was in the middle.

Concerns that the economy is going to slow down significantly, as well as COVID limitations in Guangzhou, were another factor that worked against the success of the automaker’s sa...

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Company Name:	Eaton Vance Corporation
Stock Symbol:	EV
Market:	NYSE