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Dec 31, 2024
Li Auto Q4 2024 Earnings Report
Li Auto reported strong revenue growth but saw a decline in profitability.
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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