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NIO Q2 Earnings Preview: New News June Delivery Numbers.

Following NIO’s release of June delivery numbers this morning, I am posting my predictions for Q2 financial results.

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**Current Guidance** – **Revenue** & **Deliveries**

**NIO** will report results for the 2021 2nd quarter, ending 6/30 between Jul 20 and Jul 30, 2021. Current Q2 guidance stands at:

· Revenue between $1.243 – $1.298 Billion

o +2.1-6.5% QoQ growth

· Vehicle deliveries between 21000 and 22000 vehicles

o +5-10% QoQ growth

NIO saw declining monthly deliveries from April to May, corresponding with chip shortage. However, the company states that it will accelerate deliveries in June to make up for the delays.

|Model|April|May|
|:-|:-|:-|
|ES8|1523|1412|
|ES6|3163|3017|
|EC6|2416|2282|
|Total|7102|6711|

**My** **Predictions** – **Revenue** & **Deliveries**

These were my predictions prior to June releases, you can see how much I missed/hit the delivery numbers.

|Model|June Prediction|June Actual|%miss|
|:-|:-|:-|:-|
|ES8|1549|1498|-3.4%|
|ES6|3487|3755|+7.1%|
|EC6|2838|2830|-0.3%|
|Total|7874|8083|+2.59%|

Therefore, incorporating the news and improvements in pricing, I predict:

· Revenue between 1.33-1.1.38 billion

o 9 – 13% QoQ Revenue Growth

· Gross Margin between 19.53-19.63%

o 5-15 bps improvement

· Vehicle Margin between 21.16-22%

o 0-4 bps improvement

· Adj. EPS (0.02)±0.01

What do you think?

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4 Comments

  1. None of this shit matters as long as the president wants to “smash heads” the investors will be afraid to invest in Chinese companies. That speech today is the main reason for this selloff imo.

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