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NIO Inc. (NIO - Free Report) reported first-quarter 2021 loss per American Depositary Share (ADS) of 4 cents, narrowing from the year-ago loss of 22 cents owing to higher revenues. The China-based electric vehicle maker posted revenues of $1,218.3 million, up a whopping 481.8% year over year. Robust deliveries in first-quarter 2021 led to higher-than-expected revenues.
NIO — which shares space with other China-based EV firms including XPeng (XPEV - Free Report) and Li Auto (LI - Free Report) — delivered 20,060 vehicles in the first quarter of 2021, including 4,516 ES8s, 8,088 ES6s and 7,456 EC6s. Total deliveries skyrocketed 422.7% year over year.
Revenues generated from vehicle sales amounted to $1,130.3 million, representing a 489.8% jump from the corresponding quarter of 2020. Other sales amounted to $88 million, 395.3% higher than the year-ago period on the back of increased revenues, primarily derived from the battery permanent upgrade service offered since December 2020.
Importantly, vehicle margin for the quarter under review was 21.2% versus negative 7.4% in the year-ago period. Higher delivery volumes and decrease in the purchase price of certain materials led to the improvement in vehicle margin. Gross margin was 19.5% versus negative 12.2% in first-quarter 2020 on the back of robust sales and increased vehicle margin. R&D and SG&A costs were $104.8 million and $182.7 million, reflecting a year-over-year surge of 31.4% and 41.1%, respectively.
Cash and cash equivalents totaled $7.3 billion as of Mar 31, 2021. Long-term debt was around $1,588 million.
NIO — dubbed as the Tesla (TSLA - Free Report) of China — expects second-quarter 2021 deliveries in the band of 21,000-22,000 vehicles, signaling an uptick of 108% at the mid-point of the range. Revenues are envisioned between $1,243.3 million and $1,298 million, indicating a year-over-year rise of 124% at the midpoint of the guided range. NIO currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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NIO's Q1 Loss Narrows Y/Y, Sales Jump 482%, Q2 View Solid
NIO Inc. (NIO - Free Report) reported first-quarter 2021 loss per American Depositary Share (ADS) of 4 cents, narrowing from the year-ago loss of 22 cents owing to higher revenues. The China-based electric vehicle maker posted revenues of $1,218.3 million, up a whopping 481.8% year over year. Robust deliveries in first-quarter 2021 led to higher-than-expected revenues.
NIO — which shares space with other China-based EV firms including XPeng (XPEV - Free Report) and Li Auto (LI - Free Report) — delivered 20,060 vehicles in the first quarter of 2021, including 4,516 ES8s, 8,088 ES6s and 7,456 EC6s. Total deliveries skyrocketed 422.7% year over year.
Revenues generated from vehicle sales amounted to $1,130.3 million, representing a 489.8% jump from the corresponding quarter of 2020. Other sales amounted to $88 million, 395.3% higher than the year-ago period on the back of increased revenues, primarily derived from the battery permanent upgrade service offered since December 2020.
Importantly, vehicle margin for the quarter under review was 21.2% versus negative 7.4% in the year-ago period. Higher delivery volumes and decrease in the purchase price of certain materials led to the improvement in vehicle margin. Gross margin was 19.5% versus negative 12.2% in first-quarter 2020 on the back of robust sales and increased vehicle margin. R&D and SG&A costs were $104.8 million and $182.7 million, reflecting a year-over-year surge of 31.4% and 41.1%, respectively.
Cash and cash equivalents totaled $7.3 billion as of Mar 31, 2021. Long-term debt was around $1,588 million.
NIO — dubbed as the Tesla (TSLA - Free Report) of China — expects second-quarter 2021 deliveries in the band of 21,000-22,000 vehicles, signaling an uptick of 108% at the mid-point of the range. Revenues are envisioned between $1,243.3 million and $1,298 million, indicating a year-over-year rise of 124% at the midpoint of the guided range. NIO currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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