TuanChe (TC) Tops Q4 EPS by 34c, Revenues Beat
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TuanChe (NASDAQ: TC) reported Q4 EPS of ($0.01), $0.34 better than the analyst estimate of ($0.35). Revenue for the quarter came in at $25.4 million versus the consensus estimate of $21.52 million.
The Company's financial and operational results for the fourth quarter of 2020:
- Net revenues decreased by 9.3% to RMB165.8 million (US$25.4 million) from RMB182.8 million.
- Gross profit decreased by 8.7% to RMB120.6 million (US$18.5 million) from RMB132.1 million. Gross margin increased to 72.8% from 72.3%.
- Quarterly number of organized auto shows across China decreased by 28.3% from 321 in 149 cities to 230 in 135 cities. Quarterly number of special promotion events decreased by 81.0% from 269 to 51.
- Quarterly number of automobile sale transactions facilitated decreased by 32.4% to 69,308 from 102,472. Quarterly Gross Merchandise Volume of new automobiles sold decreased by 27.4% to RMB9.8 billion (US$1.5 billion) from RMB13.5billion.
- Sales operations covered 126 cities as of December 31, 2020, compared with 129 cities as of September 30, 2020 and 148 cities as of December 31, 2019.
For the first quarter of 2021, the Company expects net revenues to range from approximately RMB76.0 million to RMB80.0 million, representing a year-over-year approximate increase of 684.2% to 725.5%. This is primarily attributable to the improvement of the epidemic situation.
This forecast reflects the Company\'s current and preliminary views on the market and operational conditions as well as the influence of the COVID-19 pandemic, which are subject to change.
For earnings history and earnings-related data on TuanChe (TC) click here.
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