Li Auto Q4 2024 Earnings Report
Key Takeaways
Li Auto posted Q4 2024 revenues of $6.1 billion, a 6.1% YoY increase, driven by higher vehicle deliveries. However, net income declined by 38.6% YoY to $484.0 million, reflecting margin pressures. Non-GAAP net income stood at $553.4 million. Operating income increased by 22% YoY, while free cash flow fell by 58.6%.
Q4 revenue reached $6.1 billion, up 6.1% YoY.
Net income fell 38.6% YoY to $484.0 million.
Adjusted EPS was $0.52, down from $0.55 a year ago.
Free cash flow declined 58.6% YoY to $830.1 million.
Li Auto
Li Auto
Li Auto Revenue by Segment
Li Auto Revenue by Geographic Location
Forward Guidance
Li Auto expects vehicle deliveries to range between 88,000 and 93,000 in Q1 2025, with revenue projected between $3.2 billion and $3.4 billion, reflecting a potential YoY decline.
Positive Outlook
- Continued leadership in China's premium NEV market.
- Expansion of sales and servicing network.
- Advancements in autonomous driving technology.
- Launch of next-generation autonomous driving architecture in 2025.
- Strong cash reserves of $15.5 billion supporting future growth.
Challenges Ahead
- Lower projected revenues in Q1 2025.
- Declining vehicle margins due to competitive pricing and subsidies.
- Reduced free cash flow due to higher operating expenses.
- R&D spending expected to remain high for future developments.
- Macroeconomic uncertainties in China could impact demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income