NIO’s Q4 EPS Beats Forecast with 76% Revenue Growth to RMB34.65B
NIO delivered Q4 earnings per share of RMB0.29, beating consensus loss forecasts, while revenue climbed 76% year-over-year to RMB34.65 billion. Deliveries rose 71.7% to 124,807 units, vehicle margin expanded to 18.1%, and management projects Q1 revenue of RMB24.48-25.18 billion with deliveries of 80,000-83,000 units.
1. Q4 Financial Highlights
NIO reported fourth-quarter earnings per share of RMB0.29, reversing analyst expectations of a RMB0.09 loss. Revenue surged 76% year-over-year to RMB34.65 billion, marking the highest quarterly top-line growth rate since the company’s U.S. listing.
2. Delivery and Margin Improvements
Vehicle deliveries reached 124,807 units in Q4, up 71.7% year-over-year and 43.3% sequentially, driven by strong demand across all models. Vehicle margin expanded to 18.1%, up from 13.1% a year earlier, while gross margin rose to 17.5% from 11.7% in the prior-year quarter.
3. First-Quarter Outlook
Management forecasts first-quarter revenue between RMB24.48 billion and RMB25.18 billion, exceeding consensus of RMB23.3 billion, with deliveries of 80,000 to 83,000 units implying roughly 90–97% year-over-year growth. Execution of this guidance will hinge on supply chain resilience and production ramp efficiency.