EV maker Nio said on Wednesday that it will report its earnings results for the third quarter in about two weeks, with total revenue expected to jump significantly year over year as vehicle deliveries rose by 40% to more than 87,000 units.
The financial results will be released on November 25 before the US market opens, with a conference call with the founder and CEO William Li and the CFO Stanley Qu, following at 7:00 a.m. Eastern Time.
For the third quarter, Nio guided revenue to range between 21.812 billion yuan ($3.045 billion) and 22.876 billion yuan ($3.193 billion).
The company has reported its second quarter earnings results in early September posting a lower net loss and a revenue jump of nearly 58%.
The Shanghai-headquartered group posted a net loss of 4.99 billion yuan ($697.2 million) for the second quarter ended June 30, narrowing from 6.75 billion yuan in the first quarter but slightly better than 5.05 billion yuan a year earlier.
Total revenues climbed 57.9% from the previous quarter to 19.0 billion yuan ($2.65 billion), marking a 9.0% year-on-year increase largerly driven by the 72,056 vehicles delivered between April and June.
The CEO has recently said he is “still confident” that the first profitable quarter will be in Q4 despite seeing it as a “quite big” challenge.
As of press time, US-listed Nio shares are trading 1% lower at $6.56 during Wednesday’s premarket session.
