XPeng's Q3 2024 earnings call presented a largely positive outlook with significant growth in deliveries and revenue, improvements in gross margin, and successful global expansion. However, ongoing operational losses and increased R&D expenses were noted as challenges.

Company Guidance

In the third quarter of 2024, XPeng surpassed its key performance targets, delivering 46,533 units, reflecting a 54% increase quarter-over-quarter and a 16% increase year-over-year, which exceeded their prior quarterly guidance. September deliveries exceeded 20,000 units, setting a new record. This performance was bolstered by a gross profit margin increase to 15.3%, marking continuous improvement for five consecutive quarters. For the fourth quarter of 2024, XPeng forecasts total deliveries between 87,000 to 91,000 units, representing a quarter-over-quarter increase of 87% to 95.6%, and a year-over-year increase of 44.6% to 51.3%. The company also projects total revenue for the fourth quarter to range from RMB 15.3 billion to RMB 16.2 billion, reflecting a quarter-over-quarter rise of 51.5% to 60.4% and a year-over-year increase of 17.2% to 24.1%. Furthermore, XPeng expects significant improvements in cash flow, projecting cash on hand to exceed RMB 40 billion by year-end.

Significant Delivery and Revenue Growth

XPeng delivered 46,533 units in Q3 2024, marking a 54% increase quarter-over-quarter and a 16% increase year-over-year. Total revenue for the quarter was RMB 10.1 billion, an increase of 18.4% year-over-year and 24.5% quarter-over-quarter.

Improved Gross Profit Margin

The gross profit margin increased to 15.3% in Q3 2024, up from negative 2.7% the previous year and 14% in the previous quarter.

Record Monthly Deliveries

September's deliveries exceeded 20,000 units, marking a new record high for the company.

P7 Plus Success and Future Outlook

The P7 Plus model received over 30,000 firm orders shortly after its launch. XPeng anticipates delivery volumes for the P7 Plus to exceed 10,000 units in December.

Global Expansion and Overseas Sales Growth

Overseas sales increased by 70% sequentially, accounting for 15% of total sales volume. XPeng plans to expand its international sales network to over 300 stores by 2025.

Positive Cash Flow and Financial Outlook

XPeng expects positive free cash flow for the second half of the year, with cash on hand anticipated to exceed RMB 40 billion by year-end.

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XPeng, Inc. ADR (XPEV) 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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XPEV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2020	2020 (Q3)	- / -0.35	-0.018	-1861.24% (-0.33)	―	―
Mar 08, 2021	2020 (Q4)	- / -0.07	-0.023	-187.43% (-0.04)	―	―
May 13, 2021	2021 (Q1)	-0.10 / -0.07	-0.015	-354.55% (-0.05)	―	―
Aug 26, 2021	2021 (Q2)	-0.12 / -0.10	-0.391	73.84% (+0.29)	―	―
Nov 23, 2021	2021 (Q3)	-0.16 / -0.26	-0.345	25.30% (+0.09)	―	―
Mar 28, 2022	2021 (Q4)	-0.29 / 0.02	-0.065	137.50% (+0.09)	―	―
May 23, 2022	2022 (Q1)	-0.26 / -0.27	-0.068	-300.00% (-0.20)	―	―
Aug 23, 2022	2022 (Q2)	-0.30 / -0.43	-0.102	-321.33% (-0.33)	―	―
Nov 30, 2022	2022 (Q3)	-0.33 / -0.38	-0.258	-46.56% (-0.12)	―
Mar 17, 2023	2022 (Q4)	-0.29 / -0.37	0.025	-1622.22% (-0.40)	―

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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XPEV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 19, 2024	$13.01	$12.52	-3.77%
Aug 20, 2024	$7.20	$6.77	-5.97%
May 21, 2024	$8.28	$8.77	+5.92%
Mar 19, 2024	$9.82	$9.89	+0.71%

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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