Nio’s sales beat $2 billion in ‘transformational’ year

Nio’s sales beat $2 billion in ‘transformational’ year

Nio Inc’s. American depositary receipts fell over 3% in the extended session Monday after the China-based electric-car creator revealed mixed fourth-quarter results and said revenue for a “transformational” 2020 topped $2 billion.

NIO, +8.69% said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 pennies for every ADR, contrasted and a deficiency of RMB2.8 billion in the year-prior period. Barring one-time things, Nio lost $203.6 million, or 14 pennies a share.

Final quarter income bounced 133% to $1.02 billion, the organization said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.

Examiners polled by FactSet had expected a quarterly deficiency of 6 cents per each ADR on sales of $1.025 billion.

Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That contrasts and 8,224 vehicles in the fourth quarter of 2019.

For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.

Fourth-quarter deliveries were a record for the organization and finished up “a transformational 2020,” founder and Chief Executive William Li said in a proclamation. That momentum has proceeded into 2021, he said.

The organization guided for the delivery of around 20,000 to 20,500 vehicles in the first quarter, which would be an expansion somewhere in the range of 15% and 18% from the final quarter’s deliveries. It guided for income between $1.13 billion and $1.16 billion for the quarter.

Shares of Nio finished the regular trading day up almost 9%. For as long as a year, the stock has acquired 1,100%, contrasted and 32% for the S&P 500 index SPX, +2.38%.