Q1 26 EPS
$-0.26
BEAT +76.68%
Est. $-1.12
Q1 26 Revenue
$1.89B
MISS 85.30%
Est. $12.86B
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 … Read more 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
XPEV 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
Q1 2026 vs Q1 2025, source: SEC Filings
XPEV Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Xiaopeng He, Q1 2026 Earnings Press Release
XPEV Earnings Trends
XPEV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
XPEV EPS Trend
Earnings per share: estimate vs actual
XPEV Revenue Trend
Quarterly revenue: estimate vs actual
XPEV Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-1.12 | $-0.26 | +76.68% | $1.89B | -85.30% |
| Q4 25 BEAT FY | $-0.06 | $0.08 | +226.98% | $3.18B | -85.54% |
| FY Full Year | — | $-0.07 | — | $10.97B | — |
| Q3 25 BEAT | $-0.47 | $-0.02 | +95.72% | $2.86B | -85.96% |
| Q2 25 BEAT | $-1.06 | $-0.07 | +93.41% | $2.55B | -85.77% |
| Q1 25 BEAT | $-1.51 | $-0.10 | +93.39% | $2.18B | -86.11% |