VinFast Auto posted a Q1 loss of $0.48 per share on $920.7 million revenue, missing estimates by 16% as margins are strained by free-charging accounting through 2029. The company will sell its Vietnamese factory for $530 million and shift to an asset-light model after delivering 58,577 vehicles, up 61%.
The analyst firm maintained an Overweight rating for VinFast Auto, signaling expectations of outperformance based on its strategic initiatives despite recent earnings misses.
In the first quarter, the company posted a loss of $0.48 per share on $920.7 million in revenue, falling short of consensus by 16%, with margins further squeezed by free-charging accounting through 2029.
VinFast Auto is shifting to an asset-light model, planning to sell its Vietnamese manufacturing operations for $530 million to bolster capital discipline and fund its global expansion.
Operationally, the automaker delivered 58,577 vehicles, a 61% increase year over year, and is placing greater emphasis on Asian markets as core drivers for future growth.
