Shares of Li Auto (NASDAQ: LI) were on an upswing in pre-market trading on Monday after the Chinese EV major stated that it expects its vehicle deliveries to zoom up between 64% and 73.4% in Q1 to be between 52,000 and 55,000 vehicles.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Moreover, the company expects robust revenues in the first quarter between $2.5 billion and $2.68 billion, an increase of 82.5% to 93% year-over-year.
Li reported adjusted earnings for its fourth quarter of $0.13 per ADS, surpassing analysts’ consensus estimate of $0.07.
Total revenues increased by 66.2% year-over-year to $2.56 billion, in line with estimates.
Xiang Li, founder, Chairman, and CEO of Li Auto commented, “We ended the year on a high note, with record deliveries of more than 20,000 vehicles in December, setting a new milestone for our company and emerging new energy automakers in China.”
Overall, Wall Street analysts are bullish about LI stock with a Strong Buy consensus rating based on seven Buys and one Hold.
