Li Auto reports Q3 EPS 23c, consensus 30c

Reports Q3 revenue $4.75B, consensus $4.59B. Total vehicle deliveries were 105,108 units in the third quarter, representing a 296.3% year-over-year increase. Xiang Li, chairman and chief executive officer of Li Auto, commented, “In response to the evolving market demand in the third quarter, we continued to strengthen synergies across production, supply, and sales, while enhancing our production capability. With these efforts, we achieved a number of breakthroughs across our delivery performance during the quarter, becoming China’s first emerging new energy automaker to reach the milestone of 500,000 cumulative deliveries. Each of our three Li L series models recorded over 10,000 monthly deliveries for three consecutive months since August, maintaining our position as the sales champion among SUVs and NEVs priced over RMB300,000 in China. As we further expand our business scale, we will continue to maintain our profitability at a healthy level, while investing in research and development to propel the long-term growth of our business.”