Nio Inc - ADR (NYSE: NIO) shares are trading lower by 4.3% to $21.04 in Friday’s pre-market session after the company reported fourth-quarter earnings results and issued weak first-quarter guidance.
Nio reported a fourth-quarter EPS loss of 16 cents, which beat the analyst consensus estimate of a loss of 21 cents. Nio also reported fourth-quarter sales of $1.55 billion, which beat the analyst consensus estimate of $1.53 billion.
Nio reported fourth-quarter deliveries of 25,034 vehicles, which is up from 17,353 deliveries in the same period last year. Nio sees first-quarter deliveries of as few as 25,000 or as many as 26,000 vehicles, which would represent deliveries up from 25-30% in the same period last year.
Nio meanwhile issued first-quarter sales guidance with a range between $1.511 billion and $1.567 billion, which is below the $1.66 billion estimate.
See Also: Nio Reports Q4 Beat, Hints At Reacceleration In Growth In 2022
"On March 10, 2022, thanks to the trust and support of our users, investors and partners, NIO started to be listed by way of introduction on the Main Board of The Stock Exchange of Hong Kong Limited," added Steven Wei Feng, NIO's chief financial officer.
"With steadily increasing deliveries, stable average selling price, and improving manufacturing efficiency, we have achieved solid financial performance for the fourth quarter and full year of 2021 with the vehicle margin reaching 20.1% in 2021. To provide better experience to our growing global user base and accelerate our market expansion, we will continue to make decisive investments in products, core technologies and services for the years ahead."
Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.
Nio has a 52-week high of $55.13 and a 52-week low of $13.01.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga