Li Auto Q4 Earnings Smashes Estimates

  • Li Auto Inc LI reported fourth-quarter FY21 sales growth of 156% year-on-year, to $1.67 billion, beating the consensus of $1.59 billion.
  • Vehicle sales increased 155.7% Y/Y to RMB10.38 billion ($1.63 billion) with a vehicle margin of 22.3%, a 520 basis points Y/Y expansion.
  • Gross profit for the quarter jumped 228.5% Y/Y to RMB2.38 billion ($373.5 million), and the profit margin expanded 490 basis points to 22.4%.
  • Income from operations was $3.8 million, with an operating margin of 2.3%.
  • The company held $7.87 billion in cash and equivalents as of December 31, 2021. Cash generated by operating activities totaled $602.1 million with a free cash flow of $253.5 million.
  • Non-GAAP earnings per ADS of $0.11 beat the consensus of $(0.04).
  • Deliveries of Li ONE were 35,221 vehicles in Q4, up 40.2% Q/Q and 143.5% Y/Y.
  • Outlook: Li Auto sees Q1 FY22 revenue of RMB8.84 billion ($1.39 billion) – RMB9.43 billion ($1.48 billion).
  • The company expects FY22 vehicle deliveries of 30,000 - 32,000 vehicles.
  • Price Action: LI shares are trading higher by 0.77% at $27.57 on the last check Friday.

Posted In: BriefsEarningsNewsGuidanceGeneral

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