The earnings call highlighted significant achievements such as becoming the EV market leader in Vietnam, robust growth in EV deliveries, and improved financial performance. However, challenges remain with negative gross margins, decreased eScooter deliveries, and cash flow concerns. The strategic capital injection provides a strong foundation for future growth and indicates confidence in achieving long-term profitability.

Company Guidance

During the Q3 2024 earnings call for VinFast Auto Limited, the company reported significant metrics showcasing its growth and market expansion. VinFast delivered 21,912 electric vehicles (EVs), reflecting a 66% increase quarter-over-quarter and a 115% increase year-over-year, with a strong domestic performance in Vietnam, where retail sales rose 159% quarter-over-quarter and 504% year-over-year. The company reiterated its full-year delivery target of 80,000 vehicles, having reached 55% of this target by the end of September. Financially, VinFast achieved a net revenue of USD 512 million, marking a 42% quarter-over-quarter and 49% year-over-year increase. The company's gross loss narrowed to USD 123 million, a significant improvement from previous quarters, driven by a decline in average unit bill of material costs for electric cars by 8.3% and production costs by 20.1%. The company also highlighted its strategic expansions into international markets, with approximately 9% of deliveries going to these markets in Q3, compared to just 3% a year ago, and a notable presence in North America, the Middle East, and Southeast Asia.

Historic Milestone in Domestic Market

VinFast became the market leader in Vietnam, outperforming international competitors in the EV segment, marking a significant achievement for the domestic automotive industry.

Significant Growth in EV Deliveries

Q3 2024 saw 21,912 EVs delivered, representing a 66% quarter-over-quarter and 115% year-over-year increase.

Robust B2C Electric Car Sales

Electric car sales grew 163% quarter-over-quarter and 497% year-over-year in Q3 2024.

Expansion in International Markets

Deliveries to international markets increased to 9% in Q3 2024 compared to 3% a year ago, with notable growth in North America and recent market entry in the Middle East and Indonesia.

Improved Financial Performance

Q3 2024 net revenue was USD 512 million, a 42% quarter-over-quarter and 49% year-over-year increase, with gross loss and net loss narrowing significantly.

Strategic Investments and Support

VinFast announced a USD 3.5 billion capital injection by 2026, providing financial stability and supporting growth and profitability plans.

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VinFast Auto (VFS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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VFS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 21, 2023	2023 (Q2)	- / -0.23	0.064	-459.38% (-0.29)
Oct 05, 2023	2023 (Q3)	- / -0.27	0.024	-1225.00% (-0.29)
Feb 22, 2024	2023 (Q4)	-0.23 / -0.28	0.12	-333.33% (-0.40)	―
Apr 17, 2024	2024 (Q1)	-0.23 / -0.26	0.049	-630.61% (-0.31)
Sep 20, 2024	2024 (Q2)	-0.21 / -0.33	-0.23	-43.48% (-0.10)
Nov 26, 2024	2024 (Q3)	-0.27 / -0.23	-0.27	14.81% (+0.04)
Feb 20, 2025	2024 (Q4)	-0.21 / -	-0.28	―	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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VFS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 26, 2024	$3.93	$3.95	+0.51%
Sep 20, 2024	$3.96	$3.66	-7.58%
Apr 17, 2024	$3.07	$2.72	-11.40%
Feb 22, 2024	$5.26	$5.08	-3.42%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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