September 28, 2022

What to expect from XPeng when EV company reports second quarter results

XPeng Inc XPEV is expected to announce its second-quarter financial results before the market opens on Tuesday. Here’s a look at what to expect from the Chinese EV company.

What to expect: Benzinga Pro’s average analyst estimates show Xpeng is expected to post revenue of $1.06 billion in the second quarter. The company reported revenue of $533.87 million in the same quarter last year. Revenue estimates are not currently listed. The company announced a net loss of 22 cents per share in the second quarter of 2021.

XPeng reports vehicle deliveries on a monthly basis. The company said it delivered 11,524 vehicles in July, 15,295 vehicles in June and 10,125 in May. A total of 80,507 vehicles were delivered during the first seven months of the year. Cumulative deliveries approached 220,000 at the end of July.

XPeng is expected to launch its new G9 SUV in September. The company will likely provide an update on its flagship SUV when it releases its second quarter results.

Last week, XPeng unveiled its super-fast charging technology at its Supercharge Media Day. The company’s S4 supercharger can deliver 200 km of charge to its upcoming G9 SUV in just five minutes.

As of last week: Tesla Rival Xpeng unveils ‘ultra-fast charging technology’ capable of powering its G9 SUV with a range of 200 km in 5 minutes

Analyst Changes: The most recent analyst adjustment came from Macquarie on August 3 when the analyst Erica Chen downgraded XPeng from an outperform rating to neutral and announced a price target of $25.

Analyst price targets on XPeng range from $25 to $55.60. Consensus estimates have a buy rating on the stock with a price target of $35.05.

XPEV Price Action: XPeng has a 52 week high of $51.50 and a 52 week low of $18.01.

The stock was down 0.61% at $21.11 at press time, according to Benzinga Pro.

Photo: courtesy of XPeng.