Loading...
Loading...
- Niu Technologies NIU reported a second-quarter FY22 sales decline of 12.4% year-on-year, to RMB 827.6 million ($123.6 million), beating the consensus of $85.22 million.
- The number of e-scooters sold decreased 17.4% Y/Y to 208,857, led by a 26.7% fall in China. International e-scooters sales jumped 309.1% Y/Y to 28,558.
- The number of franchised stores in China was 3,329 as of June 30, 2022, an increase of 81 from March 31, 2022.
- The gross margin for the quarter declined 240 basis points Y/Y to 20.3%, reflecting continuous cost pressure. The operating loss for the quarter was RMB (5.1) million.
- Earnings per ADS were $0.03. The adjusted net income was RMB 31.2 million versus RMB 103.9 million last year.
- Niu held ~$154 million in cash and equivalents as of June 30, 2022.
- Outlook: NIU expects Q3 revenues of RMB 1.165 billion - RMB 1.349 billion, representing a year-over-year decrease of 5% - an increase of 10%.
- Price Action: NIU shares are trading lower by 2.74% at $7.10 in premarket on the last check Monday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in