Back to News
Aug 28, 2024 6:30 AM

Chinese EV Maker Li Auto Q2 Earnings: EPS Beat, 25% Deliveries Growth, Margin Struggles And More

Li Auto Inc (NASDAQ:LI) reported fiscal second-quarter 2024 revenue growth of 10.6% year-on-year to $4.36 billion, marinally missing the analyst consensus of $4.45 billion. 

It clocked an adjusted net earnings per ADS of $0.20, which beat the analyst consensus of $0.19.

Vehicle sales increased 8.4% to $4.2 billion, mainly due to the increase in vehicle deliveries. Total vehicle deliveries were 108,581 units in the quarter, a 25.5% year-over-year increase.

The vehicle margin declined by 230 bps year over year to 21.0%, mainly due to changes in product mix and pricing strategy. The gross margin decreased by 230 bps year over year to 21.8%, mainly due to reduced vehicle margin. 

Adjusted income from operations was $119.7 ...