U.S.-listed shares of Li Auto (LI) fell in premarket trading Thursday after the Chinese electric vehicle maker’s first-quarter profit and current-quarter projections came up short of analysts’ estimates.
The company reported adjusted earnings per American depositary share of 0.96 yuan ($0.13) on revenue of 25.93 billion yuan ($3.61 billion). Analysts surveyed by Visible Alpha had forecast 1.03 yuan and 25.28 billion yuan, respectively. The EV maker said it delivered 92,864 vehicles in the first quarter, while analysts were expecting 91,723 units.
CFO Tie Li said the first quarter’s results “demonstrate our ability to navigate dynamic market conditions effectively while maintaining strong profitability.”
For the second quarter, the company said it expects to deliver 123,000 to 128,000 vehicles and generate 32.5 billion yuan to 33.8 billion yuan in revenue, both below Visible Alpha forecasts.
Li Auto’s U.S.-listed shares were down more than 4% about two hours before the opening bell Thursday. They entered the day up about 16% since the start of the year.
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