Deutsche Bank expects Nio to report revenue of 9.1 billion yuan in the second quarter, in line with current consensus estimates.
Nio announced today that it will report its unaudited financial results for the second quarter on Tuesday, August 29, before the US markets open.
Already released figures show that the company delivered 23,520 vehicles in the second quarter, a decrease of 6.14 percent year-on-year and down 24.23 percent from the first quarter.
Deliveries in the quarter were slightly above the lower end of Nio’s previously provided guidance range of 23,000 to 25,000 vehicles.
The company had previously guided second-quarter revenue to be between RMB 8.742 billion ($1.27 billion) and RMB 9.37 billion, a decrease of about 15.1 percent to 9.0 percent from the same quarter in 2022.
In a research note sent to investors on August 11, Deutsche Bank analyst Edison Yu’s team said they expect Nio to report revenue of RMB 9.1 billion in the second quarter, in line with consensus estimates.
Nio’s gross margins will remain under pressure as its sales fell in the second quarter, but the company’s stronger execution is starting to show, the team said.
Nio’s gross margin is likely to be around 2 percent to 3 percent in the second quarter, the team said, adding that they expect the company’s vehicle margin may show small improvement.
Nio management will hold an earnings call on August 29 at 8:00 am US Eastern time (8:00 pm Beijing time).
For attendees who wish to join the conference using a dial-in number, they can register in advance using the link provided below and dial in 10 minutes prior to the call.
https://s1.c-conf.com/diamondpass/10033043-ysg6dg.html
A replay of the conference call will be available through September 5 at the following numbers:
United States: +1-855-883-1031
Hong Kong, China: +852-800-930-639
Chinese mainland: +86-400-1209-216
Singapore: +65-800-1013-223
International: +61-7-3107-6325
Replay PIN: 10033043
