Earnings Report | NIO's second-quarter losses widened by 140%, with an estimated delivery of 55,000-57,000 vehicles in the third quarter.
NIO is expected to deliver 55,000 to 57,000 vehicles in the third quarter, with market forecasts at 48,465 vehicles. NIO's second-quarter revenue was 8.77 billion yuan, slightly below market expectations of 9.254 billion yuan, and down from 10.29 billion yuan in the same period last year. Adjusted net loss was 5.446 billion yuan, representing a 140.2% increase compared to the same period last year.
On Tuesday, NIO released its Q2 earnings report.
According to the report, NIO's Q2 revenue was 8.77 billion yuan, lower than the market expectation of 9.254 billion yuan and the 10.29 billion yuan in the same period last year. The adjusted net loss was 5.446 billion yuan, a 140.2% increase compared to the same period last year.
In pre-market trading, NIO initially rose by about 4% but is currently down by approximately 1%.
Q3 Guidance
NIO expects to deliver 55,000 to 57,000 vehicles in the third quarter, while the market forecast is 48,465 vehicles.
The projected revenue for the third quarter is between 18.9 billion yuan and 19.52 billion yuan, with the market forecast at 17.2 billion yuan.
Q2 Financial Data
NIO's total revenue for Q2 was 8.7717 billion yuan (approximately 1.2097 billion USD), a 14.8% decrease compared to the same period last year and a 17.8% decrease compared to the previous quarter.
The automotive sales revenue for Q2 was 7.1852 billion yuan (approximately 990.9 million USD), a 24.9% decrease compared to the same period last year and a 22.1% decrease compared to the previous quarter.
The vehicle gross margin for Q2 was 6.2%, compared to 16.7% in the same period last year and 5.1% in Q1 2023.
The gross profit for Q2 was 87 million yuan (approximately 12 million USD), a 93.5% decrease compared to the same period last year and a 46.4% decrease compared to the previous quarter.
The gross margin for Q2 was 1.0%, while it was 13.0% in the same period last year and 1.5% in Q1.
The operating loss for Q2 was 6.0741 billion yuan (approximately 837.7 million USD), a 113.5% increase compared to the same period last year and an 18.8% increase compared to the previous quarter.
The net loss for Q2 was 6.0558 billion yuan (approximately 835.1 million USD), a 119.6% increase compared to the same period last year and a 27.8% increase compared to the previous quarter.
The adjusted net loss for Q2 was 5.446 billion yuan, a 140.2% increase compared to the same period last year and a 31.2% increase compared to Q1.
