Li Auto Stock (NASDAQ:LI): Buyers Should Survive, Even after the Cliff Dive
Will Li Auto (NASDAQ:LI) survive after today’s disaster? The buyers are reeling, no doubt, but they shouldn’t despair. As often happens in the financial markets, investors’ fears about the future
Li Auto Earnings Miss Views; China EV Maker Guides Low
Li Auto (LI) reported weaker-than-expected first-quarter earnings and guided low on the current quarter, as the once-hot China electric vehicle maker struggles with increased competition. Li Auto stock plunged Monday. XPeng (XPEV) reports Q1 results early Tuesday. XPEV stock rose before the open, along with Nio (NIO) and newly public Zeekr (ZK). China EV and battery giant BYD (BYDDF) flashed a buy signal late last week. Tesla (TSLA) tilted higher. Li Auto earned 17 cents per U.S. ADR, down 10.5% vs. 19 cents a year earlier. Wall Street had expected 24 cents. Revenue grew 36% vs. a year earlier to $3.6 billion, modestly meeting. As previously disclosed, Li Auto delivered 80,400 vehicles in Q1, up 53% vs. a year earlier but down 39% vs. Q4. The decline vs. Q4 reflected typical softness in China auto sales around Lunar New Year holidays, but also weak March orders. The Mega minivan, Li's first fully battery electric vehicle (BEV), has seen poor demand. The bulk of Li's sales come from SUV line of extended range EVs, essentially a form of plug-in hybrid. On the earnings call, Li Auto now says it will not release any all-electric SUVs in 2024, a shift. It'll release those vehicles in the first half of 2025. Li Auto expects Q2 deliveries of 105,000-110,000 vehicles, up 21%-27% vs. year earlier earlier, but below analyst estimates. Li already delivered 25,787 vehicles in April, so the Q2 guidance assumes May-June deliveries of 79,213-84,213. Revenue should be $4.1 billion-$4.3 billion, up 4%-9% vs. a year earlier. Analysts had expected $5.17 billion. In recent weeks, Li Auto announced hefty price cuts on all its vehicles, except for the brand-new L6 SUV, its smallest and most-affordable vehicle. Earlier this month, the EV maker announced it would lay off more than 18% of its workforce. Li Auto stock plunged 12.8% to 21.71, knifing below the 52-week low of 23.04 set on April 25. Last week, LI stock fell 6.7% to 24.89. XPeng stock edged down 0.2% to 8.28, just above the 50-day line. Early Tuesday, XPeng is expected to a report a 33-cent loss per U.S. ADR vs. a 38-cent loss a year earlier. Revenues should jump nearly 50% to $857 million. Nio stock sank 1.1% to 5.22 on Monday, continuing to hold above the 50-day line but well below its 200-day. Shares climbed 4.1% last week. Nio earnings are due May 29. Last week, Nio formally unveiled the first model from its more-affordable Onvo brand. The L60 crossover is a new Model Y rival. Zeekr stock popped 4.3% to 27.11. Zeekr, a China EV brand of auto giant Geely, came public in the U.S. earlier this month at 21 a share. ZK stock jumped to 29.36 intraday on May 13, but then pulled back. BYD stock, which trades over the counter in the U.S., closed flat. Shares rose 1.2% to 28.73 last week, holding support at the 200-day line, and breaking a downtrend in a handle, offering an early entry. Investors could view the recent action as a high handle to a short consolidation or a traditional handle to a base going back to late 2023. Either way, the official buy point is 29.52. Tesla stock fell 1.4% to 174.95 Monday. Shares rallied 5.3% last week, rebounding from the 50-day line. Tesla faces growing competition from Xiaomi, Nio and BYD in China. Please follow Ed Carson on X/Twitter at @IBD_ECarson and Threads at @edcarson1971 for stock market updates and more. YOU MAY ALSO LIKE: Why This IBD Tool Simplifies The Search For Top Stocks IBD Digital: Unlock IBD's Premium Stock Lists, Tools And Analysis Today Best China Stocks: Tesla Rival, These E-Commerce Plays Near Buy Points Futures: Nvidia Offers Huge Test; 5 AI Stocks Near Buy Points
Li Auto Inc. (LI) Q1 2024 Earnings Call Transcript
Li Auto Inc. (NASDAQ:LI ) Q1 2024 Results Conference Call May 20, 2024 8:00 AM ET Company Participants Janet Chang - Director of Investor Relations Xiang Li - Chairman and CEO Johnny Tie Li - CFO Donghui Ma - President James Liangjun Zou - Senior Vice President Conference Call Participants Bin Wang - Deutsche Bank Tim Hsiao - Morgan Stanley Tina Hou - Goldman Sachs Yingbo Xu - CITIC Paul Gong - UBS Yuqian Ding - HSBC Ming Hsun Lee - Bank of America Operator Hello, ladies and gentlemen. Thank you for standing by for Li Auto's First Quarter 2024 Earnings Conference Call.
Why Li Auto Stock Dropped 14% Today
Li Auto crushed its quarterly earnings report three months ago, but was crushed by earnings today. The automaker missed expectations and reported a $0.08 per share GAAP loss for Q1.
Li Auto Sinks on Q1 Profit Slump
American depositary receipts (ADRs) of Li Auto (LI) are down 14% in intraday trading Monday after the Chinese electric vehicle (EV) manufacturer posted a 36% year-over-year drop in first-quarter net income as it lowered car prices.
LI Stock Alert: Why Li Auto Is Skidding Out Today
The shares of Chinese plug-in hybrid and electric vehicle (EV) maker Li Auto (NASDAQ: LI ) are tumbling today after the company reported weaker-than-expected first-quarter results. LI stock is sinking over 10% in early trading.
Stock Futures Quiet Following Breakout Week
Stock Futures Quiet Following Breakout Week The Fed's meeting minutes are on tap this week Fernanda Horner Digital Content Manager May 20, 2024 at 9:10 AM NDX|IXIC|DJIA Can the Dow keep moving above 40,000? Dow Jones Industrial Average (DJIA) futures are muted to start the week, after the blue-chip index closed above 40,000 for the first time in the previous session. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are modestly higher as well, on the heels of a breakout week, as Wall traders eyes key economic readings and await the Federal Reserve's meeting minutes. Continue reading for more on today's market, including: A record-breaking week on Wall Street. Oil and gas stock is a solid bullish bet. Plus, MU upgraded; Li Auto's disappointing results; and why Apple stock slipping. 5 Things You Need to Know Today The Cboe Options Exchange (CBOE) saw 2.1 million call contracts and 1.2 million put contracts exchanged on Friday. The single-session equity put/call fell to 0.54, and the 21-day moving average stayed at 0.70. Morgan Stanley upgraded Micron Technology Inc (NASDAQ:MU) stock to "equal weight" from "underweight." The firm said it underestimated the company's artificial intelligence (AI) memory business. MU is up 2.3% in premarket trading, and sports an 89.2% year-over-year lead. China-based electric vehicle (EV) maker Li Auto Inc (NASDAQ:LI) is 4.6% lower ahead of the open, after posting a first-quarter earnings miss and disappointing current-quarter guidance. LI has already shed 28% this year. Reuters reported tech giant Apple Inc (NASDAQ:AAPL) is implementing massive discounts on iPhones in China, pushing shares down 0.2% before the bell. AAPL is still up 9% in the last 12 months. Retail earnings and economic data are due out this week. Asian Markets Higher on China's Rate Decisions Asian markets finished higher on Monday, after China kept its one- and five-year loan rates steady at 3.45% and 3.95%, respectively. Despite a dip in property stocks, China’s Shanghai Composite added 0.5%, still buzzing on Friday’s jump that came after the country rolled out measures to boost the property market. Hong Kong’s Hang Seng rose 0.4%, while the South Korean Kospi added 0.6%, and Japan’s Nikkei tacked on 0.7% to start the week. European markets are also higher at last glance. London’s FTSE 100 is up 0.1%, with plenty of attention surrounding Shein’s potential listing on the index, while the French CAC 40 rises 0.6%, and the German DAX moves 0.5% higher. Follow @Schaeffers (function () { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'Click Here var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(po, s); })();
Li Auto Stock Is Falling. Earnings Missed, but This Was the Real Problem.
Chinese electric-vehicle maker Li Auto reported disappointing first-quarter earnings and sales. Pricing isn't holding up.
Li Auto commits to ‘creating incremental value' after a weak Q1
Li Auto Inc (NASDAQ: LI) is committed to “enhancing operational efficiency” and create persistent “incremental value” for its users, says Xiang Li – chief executive of the EV company.
Chinese EV Maker Li Auto Misses Q1 Revenue Expectations Despite Surging Vehicle Sales, Stock Tanks
Li Auto Inc LI reported fiscal first-quarter 2024 revenue growth of 36.4% year-on-year to $3.55 billion, missing the analyst consensus estimate of $3.84 billion. Adjusted net earnings per ADS was $0.17 missed the analyst consensus estimate of $0.35. The stock price dropped after the results. Vehicle sales increased 32.3% to $3.4 billion, mainly attributable to the increase in vehicle deliveries. Total vehicle deliveries were 80,400 units in the quarter, an 52.9% Y/Y increase. Also Read: Tesla Tries To Boost China Sales With Free Supercharging Miles After Price Cuts The vehicle margin declined by 50 bps year over year to 19.3%, while the gross margin expanded by 20 bps year over year to 20.6%. Adjusted income from operations was $13.9 million, down by 88.7% Y/Y. Li Auto held cash and equivalents of $13.7 billion as of March 31, 2024. Cash provided by operating activities was $462.9 million for the quarter. As of March 31, 2024, the company had 474 retail stores covering 142 cities, 356 servicing centers, and Li Auto-authorized body and paint shops operating in 209 cities, and 357 super charging stations in operation equipped with 1,544 charging stalls. In April 2024, the company delivered 25,787 vehicles, representing an increase of 0.4% from April 2023. Mr. Xiang Li, chairman and chief executive officer of Li Auto, commented, “In March, we launched and commenced delivery of our high-tech flagship family MPV, Li MEGA, which is also our first high-power charging BEV. Meanwhile, we accelerated our efforts to deploy super charging stations nationwide, adding charging resources for Li Auto users to expedite the 0-to-1 development phase of our high-power charging BEVs.” “In April, we launched and commenced delivery of Li L6, a five-seat premium family SUV, to satisfy the mobility needs of more young families, making all-wheel-drive range extension system and intelligent features available on vehicles priced below RMB300,000.” Outlook: Li Auto sees second-quarter fiscal 2024 revenue of $4.1 billion – $4.3 billion, representing an increase of 4.2% – 9.4% Y/Y. LI expects first-quarter vehicle deliveries of 105,000 – 110,000, representing an increase of 21.3%—27.1% year over year. Li Auto stock lost over 15% in the last 12 months. Investors can gain exposure to the stock via VanEck Low Carbon Energy ETF SMOG and First Trust Long/Short Equity FTLS. Price Action: LI shares traded lower by 4.26% at $23.83 in premarket at the last check Monday. Photo via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Li Auto says order intake misses expectations as earnings slump
Chinese electric vehicle maker Li Auto said order intake was worse than expected in March as its profit declined in the first quarter.
10,073 Shares in Li Auto Inc. (NASDAQ:LI) Acquired by Natixis Advisors L.P.
Natixis Advisors L.P. bought a new stake in shares of Li Auto Inc. (NASDAQ:LI – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,073 shares of the company’s stock, valued at approximately $377,000. Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in Li Auto by 3.4% during the third quarter. Advisors Asset Management Inc. now owns 14,458 shares of the company’s stock valued at $515,000 after buying an additional 469 shares during the period. Signaturefd LLC grew its position in shares of Li Auto by 7.1% during the 3rd quarter. Signaturefd LLC now owns 8,613 shares of the company’s stock valued at $307,000 after acquiring an additional 569 shares during the period. Caprock Group LLC increased its stake in shares of Li Auto by 10.0% in the 4th quarter. Caprock Group LLC now owns 8,814 shares of the company’s stock worth $330,000 after purchasing an additional 802 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Li Auto by 4.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 19,650 shares of the company’s stock worth $701,000 after purchasing an additional 823 shares during the period. Finally, Parametrica Management Ltd lifted its position in Li Auto by 3.7% during the fourth quarter. Parametrica Management Ltd now owns 36,402 shares of the company’s stock valued at $1,363,000 after purchasing an additional 1,302 shares in the last quarter. 9.88% of the stock is owned by institutional investors. Li Auto Price Performance LI stock opened at $24.89 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.48 and a current ratio of 1.57. The company’s fifty day moving average price is $29.54 and its 200-day moving average price is $33.00. Li Auto Inc. has a one year low of $23.04 and a one year high of $47.33. The company has a market capitalization of $26.41 billion, a PE ratio of 16.06 and a beta of 1.10. Li Auto (NASDAQ:LI – Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.49 EPS for the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. The business had revenue of $5.88 billion for the quarter. On average, equities analysts anticipate that Li Auto Inc. will post 1.5 EPS for the current fiscal year. Analyst Upgrades and Downgrades LI has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised Li Auto from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $45.00 to $41.00 in a research note on Tuesday, February 6th. Bank of America decreased their target price on shares of Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Morgan Stanley dropped their price target on shares of Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Macquarie started coverage on shares of Li Auto in a research report on Monday, April 15th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Citigroup dropped their target price on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.36. Check Out Our Latest Stock Analysis on LI About Li Auto (Free Report) Li Auto Inc operates in the energy vehicle market in the People's Republic of China. It designs, develops, manufactures, and sells premium smart electric vehicles. The company's product line comprises MPVs and sport utility vehicles. It offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment. Read More Five stocks we like better than Li Auto How to Buy Cheap Stocks Step by Step MarketBeat Week in Review – 5/13 – 5/17 Stock Trading Terms – Stock Terms Every Investor Needs to Know Take-Two Interactive Software Offers 2nd Chance for Investors Why Understanding Call Option Volume is Essential to Successful Options Trading Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook Want to see what other hedge funds are holding LI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Li Auto Inc. (NASDAQ:LI – Free Report).
