Companies /Consumer Cyclical

XPeng Inc

NYSE: XPEV Auto Manufacturers
$11.34
▼ $0.37 (−3.16%) today
Markets closed · 5:35pm ET

Q1 2025 Earnings

Reported May 21, 2025, 8:01am ET · SEC source
$-0.10
Beat +93.39%
EPS · est. $-1.51
$2.2B
Miss −86.11%
Revenue · est. $15.7B
−14.9%
Trailing market
XPEV vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%+8%May 21May 22report 8:01am ETearnings−0.7%+0.8%
−4%0+4%+8%May 21May 22earnings−0.7%+0.8%
XPEV +0.8%S&P 500 −0.7%
−4%0+4%+8%May 21May 22report 8:01am ETearnings−0.1%+0.8%
−4%0+4%+8%May 21May 22earnings−0.1%+0.8%
XPEV +0.8%NASDAQ −0.1%
−5%0+5%May 20May 29report 8:01am ETearnings+0.3%−3.9%
−5%0+5%May 20May 29earnings+0.3%−3.9%
XPEV −3.9%S&P 500 +0.3%
−5%0+5%May 20May 29report 8:01am ETearnings+1.1%−3.9%
−5%0+5%May 20May 29earnings+1.1%−3.9%
XPEV −3.9%NASDAQ +1.1%
+13.00%
Day of report
−7.87%
Next session
−9.66%
One week
−10.79%
30 days

S&P 500 over the same 30 days: +4.10%.

Did XPEV Beat Earnings? Q1 2025 Results

XPeng delivered a sharply mixed first quarter for 2025, posting a dramatic earnings beat while falling well short of revenue expectations. The Chinese EV maker reported a loss of $0.10 per share, beating the consensus estimate of $-1.51 by 93.39%, yet revenue of $2.18 billion trailed the $15.69 billion consensus by 86.11% and declined 66.7% year-over-year. The standout driver behind the earnings outperformance was a meaningful expansion in profitability, with gross margin climbing to 15.6% from 12.9% a year earlier and vehicle margin reaching 10.5%, marking seven consecutive quarters of vehicle gross margin improvement, fueled by cost reductions and growing economies of scale. Net loss narrowed 51.5% year-over-year to $91.51 million, reflecting the company's improving cost structure even as it scaled aggressively, with record quarterly deliveries of 94,008 vehicles representing a 330.8% year-over-year surge. Looking ahead, XPeng guided Q2 deliveries of 102,000 to 108,000 vehicles and total revenues of $2.41 billion to $2.57 billion, signaling continued momentum into the second quarter.

Key Takeaways
  • Record quarterly deliveries of 94,008 vehicles, up 330.8% YoY
  • Vehicle margin improved to 10.5% from 5.5% YoY, marking seven consecutive quarters of improvement
  • Ongoing cost reduction and economies of scale driven by higher sales volume
  • Increased technical R&D services revenue from Volkswagen Group collaboration
  • Government subsidies of RMB0.54 billion, up 634.8% YoY
  • Gross margin expanded to 15.6% from 12.9% YoY

“Despite seasonality for auto sales, our quarterly deliveries hit a new historical high, making us the top-selling automaker among emerging EV companies. Positive market feedback strengthened our confidence in our three-year product cycle. We remain committed to our steadfast long-term growth strategy and continue to launch more blockbuster products.”

XPeng CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2025, XPENG expects vehicle deliveries of 102,000 to 108,000, representing a year-over-year increase of approximately 237.7% to 257.5%. Total revenues are expected to be between RMB17.5 billion and RMB18.7 billion, representing a year-over-year increase of approximately 115.7% to 130.5%. The outlook is based on current market conditions and reflects preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

XPEV YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$2.0B$4.0B$6.0B$6.5B$2.2BRevenue$843.7M$338.9MGross Profit$-75,028,754$-143,515,000Operating Income$-47,337,955$-91,509,000Net Income
$0$2.0B$4.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

XPEV Revenue by Segment

Vehicle Sales$2.0B+159.2%
Services and Others$198.6M+43.6%

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