Companies /Consumer Cyclical

XPeng Inc

NYSE: XPEV Auto Manufacturers
$11.34
▼ $0.37 (−3.16%) today
Markets closed · 5:38pm ET

Q1 2026 Earnings

Reported May 28, 2026, 9:13am ET · SEC source
$-0.26
Beat +76.68%
EPS · est. $-1.12
$1.9B
Miss −85.30%
Revenue · est. $12.9B
−18.4%
Trailing market
XPEV vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%May 28May 29report 9:13am ETearnings+0.8%−0.1%
−3%0+3%May 28May 29earnings+0.8%−0.1%
XPEV −0.1%S&P 500 +0.8%
−2%0+2%+4%May 28May 29report 9:13am ETearnings+1.1%−0.1%
−2%0+2%+4%May 28May 29earnings+1.1%−0.1%
XPEV −0.1%NASDAQ +1.1%
0+4%+8%+12%May 27Jun 5report 9:13am ETearnings−0.0%−2.0%
0+4%+8%+12%May 27Jun 5earnings−0.0%−2.0%
XPEV −2.0%S&P 500 −0.0%
0+4%+8%+12%May 27Jun 5report 9:13am ETearnings−0.3%−2.0%
0+4%+8%+12%May 27Jun 5earnings−0.3%−2.0%
XPEV −2.0%NASDAQ −0.3%
−0.06%
Day of report
+0.06%
Next session
+2.25%
One week
−19.46%
30 days

S&P 500 over the same 30 days: −1.04%.

Did XPEV Beat Earnings? Q1 2026 Results

XPENG posted a difficult first quarter for fiscal 2026, with revenue declining 17.6% year-over-year to $1.89 billion and a net loss driving earnings per share to negative $0.26, as seasonal softness in China's electric vehicle market collided with a transitioning product lineup that weighed heavily on deliveries. Total vehicle deliveries fell 33.3% year-over-year to 62,682 units, pulling vehicle sales revenue down 23.5%, though a meaningful bright spot emerged in gross margin expansion, with overall gross margin climbing to 20.6%, up 5.0 percentage points year-over-year, reflecting cost reduction efforts and a more favorable product mix. The net loss widened further as R&D expenses surged 46.8% year-over-year to support new model development and AI-related technologies, underscoring XPENG's aggressive investment posture even as near-term results softened. Looking ahead, the company guided Q2 2026 deliveries of 100,000 to 106,000 vehicles and total revenues of approximately $2.84 billion to $3.01 billion, representing year-over-year growth of 7.25% to 13.82%, with four new model launches and Robotaxi commercialization forming the strategic backbone of its recovery.

Key Takeaways
  • In-house technological innovation driving cost reduction and gross margin improvement
  • Surging international revenue providing resilience through seasonal slowdown
  • Improved product mix contributing to higher vehicle margin YoY
  • Higher revenues from technical R&D services and parts and accessories sales driving 41.2% YoY growth in services and others

“Kickstarted by the successful launch of the GX, XPENG will deliver four new models this year, positioning us for a robust sales growth trajectory. This year, I am dedicated to leading our team to achieve the mass production of Robotaxis and humanoid robots. We are nurturing a global business ecosystem to transform physical AI technologies into new growth drivers for revenue and profit.”

XPeng CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2026, XPENG expects vehicle deliveries of 100,000 to 106,000 (approximately -3.08% to +2.73% YoY, and +59.54% to +69.11% QoQ). Total revenues are expected to be between RMB 19.60 billion and RMB 20.80 billion, representing YoY growth of approximately 7.25% to 13.82% and QoQ growth of approximately 50.38% to 59.59%. The company plans to deliver four new models in 2026 and is pursuing mass production of Robotaxis and humanoid robots as new growth drivers.

XPEV YoY Financials

Revenue$1.9B
Gross Profit$388.9M
Operating Income$-271,740,000
Net Income$-258,639,000

XPEV Revenue by Segment

Vehicle Sales$1.6B−23.5%
Services and Others$294.9M+41.2%

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