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Investing.com — Li Auto Inc . (NASDAQ:LI) shares are down Friday after the company reported fourth-quarter results, missing earnings per share estimates.
Despite an initial rise in its share price immediately after the report, Li Auto is down more than 5% shortly after the open.
The Chinese electric vehicle company announced earnings per share of $0.11 on revenue of $1.67 billion. Analysts polled by Investing.com anticipated EPS of -$0.04 on revenue of $1.59 billion.
Full-year total revenues reached $4.24 billion.
Furthermore, quarterly deliveries reached 35,221 vehicles, representing a 40.2% quarter-over-quarter increase and a 143.5% year-over-year increase. Full-year deliveries were 90,491 vehicles, increasing 177.4% from 32,624 vehicles in 2020.
“Our robust performance in the fourth quarter of 2021 capped a remarkable year of growth for Li Auto,” said Tie Li, Li Auto’s chief financial officer.
“Driven by an impressive number of vehicle deliveries, we achieved revenues of RMB10.6 billion for the fourth quarter and RMB27.0 billion for the full year of 2021, up 156.1% and 185.6% year over year, respectively,” he added.
For Q1 2022, the company expects deliveries to be between 30,000 and 32,000 vehicles, representing a 138.5% to 154.4% increase year-over-year.
The company also sees total revenues between $1.39 billion and $1.48 billion, representing a 147.2% to 163.7% increase, but coming in below analyst estimates.
Li Auto also announced, its CTO Kai Wang is retiring due to personal reasons.
