NIO (NYSE:NIO) Full Year 2023 Results
Key Financial Results
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Revenue: CN¥55.6b (up 13% from FY 2022).
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Net loss: CN¥21.1b (loss widened by 45% from FY 2022).
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CN¥12.44 loss per share (further deteriorated from CN¥8.89 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
NIO EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%.
In the last 12 months, the only revenue segment was Auto Manufacturers contributing CN¥55.6b. Notably, cost of sales worth CN¥52.6b amounted to 95% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥13.2b (51% of total expenses). Over the last 12 months, the company’s earnings were enhanced by non-operating gains of CN¥1.51b. Explore how NIO’s revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto industry in the US.
Performance of the American Auto industry.
The company’s shares are up 2.2% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for NIO that you need to take into consideration.
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