Companies /Consumer Cyclical

XPeng Inc

NYSE: XPEV Auto Manufacturers
$11.34
▼ $0.37 (−3.16%) today
Markets open · 3:09pm ET

Q2 2026 Earnings

Reported Aug 25, 2026, 6:03am ET · SEC source
$-0.19
Beat +75.16%
EPS · est. $-0.77 Adjusted
$2.9B
Miss −85.80%
Revenue · est. $20.5B
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Aug 25Aug 26report 6:03am ETearnings−0.3%+5.2%
0+3%+6%Aug 25Aug 26earnings−0.3%+5.2%
XPEV +5.2%S&P 500 −0.3%
0+3%+6%Aug 25Aug 26report 6:03am ETearnings−0.6%+5.2%
0+3%+6%Aug 25Aug 26earnings−0.6%+5.2%
XPEV +5.2%NASDAQ −0.6%
0+3%+6%Aug 24Aug 27report 6:03am ETearnings+0.4%+1.2%
0+3%+6%Aug 24Aug 27earnings+0.4%+1.2%
XPEV +1.2%S&P 500 +0.4%
0+3%+6%Aug 24Aug 27report 6:03am ETearnings+0.8%+1.2%
0+3%+6%Aug 24Aug 27earnings+0.8%+1.2%
XPEV +1.2%NASDAQ +0.8%
+4.04%
Day of report
+0.95%
Next session

Did XPEV Beat Earnings? Q2 2026 Results

XPENG delivered a mixed second quarter for 2026, posting an adjusted loss of $0.19 per share that beat the $0.77 consensus estimate by 75.16%, extending the company's streak of consensus EPS beats to five consecutive quarters, while revenue of $2.91 billion fell short of the $20.50 billion estimate and declined 84.1% year-over-year. The headline revenue miss was driven heavily by currency conversion dynamics between RMB and USD reporting, with the underlying RMB figures showing an 8.0% year-over-year gain to RMB 19.74 billion, fueled by a surge in high-margin services revenue that jumped 93.9% year-over-year to $2.70 billion, reflecting milestone achievements under XPENG's technology licensing agreement with a major international automaker. Gross margin expanded to 20.7% from 17.3% a year ago, though net losses widened to $1.34 billion as R&D spending accelerated 32.1% year-over-year. Looking ahead, the company's Q3 guidance calling for RMB 21.7 billion to RMB 23.4 billion in revenue landed below analyst expectations, sending shares lower in premarket trading as competition in China's EV market intensifies.

Key Takeaways
  • Higher vehicle deliveries QoQ (103,295 vs 62,682) drove 51.5% sequential revenue increase
  • Technical R&D services milestone achievements under agreement with car manufacturer boosted services revenue 93.9% YoY
  • Premiumization and globalization efforts supported gross margin above 20%
  • Parts and accessories sales growth contributed to services and others revenue increase

“The back-to-back success of the GX and MONA L03 gives us greater confidence in our upcoming new models, as we translate our leading edge in smart technologies and design into more blockbuster products and stronger brand momentum.”

XPeng CEO, on the earnings call

Forward Guidance & Outlook

For Q3 2026, XPENG expects vehicle deliveries of 115,000 to 121,000 (approximately -0.87% to +4.30% YoY and +11.33% to +17.14% QoQ). Total revenues are expected to be between RMB 21.7 billion and RMB 23.4 billion, representing a YoY increase of approximately 6.47% to 14.81% and a QoQ increase of approximately 9.91% to 18.52%.

XPEV YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$6.0B$12.0B$18.0B$18.3B$2.9BRevenue$3.2B$601.8MGross Profit$-92,529,948$-168,386,000Operating Income$-124,129,764$-197,056,000Net Income
$0$6.0B$12.0B$18.0BRevenueGross ProfitOperating IncomeNet Income

XPEV Revenue by Segment

Vehicle Sales$2.5B+1.0%
Services and Others$397.5M+93.9%

Figures from SEC filings and company reports. Not investment advice.