Li Auto (LI) 2021 Q1 Financial Results in Focus

Li Auto Inc (NASDAQ:LI) is an emerging electric vehicle manufacturer in China. It is currently competing in the market with a premium electric SUV named Li One, which has been selling well since its rollout in November 2019. Meanwhile, Li Auto plans to strengthen its product portfolio by launching more EVs in the coming years (see best autonomous vehicle stocks to buy).

The company once again came into the limelight after announcing strong revenue for the first quarter. Li Auto reported revenue of 3.58 billion yuan for the three months ended March 31, representing a massive surge of 319.8 percent from the year-ago quarter. Total quarterly revenue also beat the consensus forecast of 3.54 billion yuan. The per-share loss also narrowed to 0.40 yuan, compared to a loss of 1.83 yuan per share in the year-ago quarter.

However, the adjusted loss of 0.20 yuan per share was wider than analysts’ average estimate of 0.10 yuan per share. On the bright side, Li Auto delivered 12,579 vehicles in the quarter, significantly higher than 2,896 in the comparable period of 2020.

Commenting on the results, CEO Xiang Li said, “Li ONE was the second best-selling new energy SUV in China in the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.”

Li Auto also issued its financial outlook for the second quarter. The company expects revenue in the range of 3.99 billion yuan to 4.27 billion yuan for the current quarter. The range represents a growth of 104.6 percent to 119 percent on a year-over-year basis.