XPeng Inc. (XPEV) Misses Q4 EPS, Revenue
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XPeng Inc. (NYSE: XPEV) reported Q4 EPS of (RMB2.57), RMB0.47 worse than the analyst estimate of (RMB2.10). Revenue for the quarter came in at RMB5.14 billion versus the consensus estimate of RMB5.59 billion.
“We have comprehensively reviewed our strategy and took decisive actions to execute our organisational restructuring and strengthen our capabilities where necessary,” said Mr. He Xiaopeng, Chairman and CEO of XPENG. “From 2023 to 2027, the industry will move from a phase of rapid EV penetration to an era of accelerated disruption by smart technologies, and we are confident that we will further strengthen our leadership in smart EV technologies.”
“With the optimization of our product portfolio and the significant improvement of our marketing capabilities, we will resume growth in our sales and market share,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and Co-President of XPENG. “In the meantime, we will improve operational efficiency across our business processes and continue to reduce costs.”
XPeng Inc. sees Q1 2023 revenue of RMB4-4.2 billion. Deliveries of vehicles to be between 18,000 and 19,000, representing a year over-year decrease of approximately 45.0% to 47.9%.
For earnings history and earnings-related data on XPeng Inc. (XPEV) click here.
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