Key Takeaways
- Nio’s U.S.-listed shares moved lower Friday after the electric vehicle maker’s fourth-quarter results missed estimates.
- Revenue and deliveries each fell short, as Nio also reported a larger loss than expected.
- The Chinese company’s first-quarter projections were also below analysts’ forecasts.
The U.S.-listed shares of Chinese electric vehicle maker Nio (NIO) fell Friday morning after its fourth-quarter sales fell short of analysts’ expectations.
The EV maker said Friday it lost an adjusted 3.17 Chinese yuan ($0.44) per share, wider than the 2.49 yuan ($0.34) per share loss that analysts expected. The loss came on $2.7 billion in revenue, nearly half a billion dollars short of the analyst consensus compiled by Visible Alpha.
Nio delivered 72,689 vehicles in the final quarter of 2024, also short of the 73,144 vehicles that analysts had forecast.
The company said it expects to deliver 41,000 to 43,000 vehicles in the first quarter, generating $1.69 billion to $1.76 billion. Nio’s forecasts are well below the current analyst consensus of 62,240 deliveries and $2.36 billion in revenue.
The EV maker also missed estimates last quarter, and said again in this quarter that lower average selling prices negatively impacted revenue as a number of Chinese competitors have cut prices to gain market share.
Nio’s U.S.-listed shares were down around 4% premarket Friday following an 8% drop Thursday. They entered the day down nearly 8% over the last 12 months.