Q1 25 EPS
$0.13
Q1 25 Revenue
$3.57B
vs S&P Since Q1 25
-61.6%
TRAILING MARKET
LI -39.5% vs S&P +22.1%
Market Reaction
Did LI Beat Earnings? Q1 2025 Results
Li Auto delivered a mixed first quarter, posting earnings of $0.13 per share on revenue of $3.57 billion as seasonal softness tied to the Chinese New Year holiday weighed on sequential volumes, while the company's shares slipped after adjusted profit… Read more Li Auto delivered a mixed first quarter, posting earnings of $0.13 per share on revenue of $3.57 billion as seasonal softness tied to the Chinese New Year holiday weighed on sequential volumes, while the company's shares slipped after adjusted profit and forward guidance fell short of analyst expectations. The company delivered 92,864 vehicles, a 15.5% increase year-over-year, though well below the prior quarter's pace, and revenue grew just 1.1% from a year ago as a shifting product mix pressured average selling prices. The more compelling story was on the cost side: operating expenses fell 14.0% year-over-year, helping swing the company from an operating loss of $584.90 million in Q1 2024 to operating income of $271.65 million this quarter, while vehicle margin improved to 19.8%. Looking ahead, Li Auto guided Q2 deliveries of 123,000 to 128,000 units and revenue of $4.50 billion to $4.70 billion, with investors watching closely for the July launch of the Li i8, its first battery electric SUV.
Key Takeaways
- • 15.5% year-over-year increase in vehicle deliveries to 92,864 units
- • Vehicle margin improvement to 19.8% from 19.3% YoY driven by cost reduction
- • 14.0% year-over-year decrease in operating expenses through reduced employee compensation, improved operational efficiency, and lower marketing spend
- • Swing from operating loss in Q1 2024 to operating income in Q1 2025
- • Seasonal softness from Chinese New Year holiday impacted sequential delivery volumes
LI YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
LI Revenue by Segment
With YoY comparisons, source: SEC Filings
“In the first quarter, we maintained our sales leadership position among Chinese automotive brands in the RMB200,000 and above NEV market by consistently delivering products and services with exceptional value for our users. Following the recent refresh of our product lineup, we have seen a robust influx of orders for the new Li L series, demonstrating their compelling product strength.”
— Xiang Li, Q1 2025 Earnings Press Release
LI Earnings Trends
LI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LI EPS Trend
Earnings per share: estimate vs actual
LI Revenue Trend
Quarterly revenue: estimate vs actual
LI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 FY | — | $0.04 | — | $4.11B | — |
| FY Full Year | — | $0.32 | — | $16.06B | — |
| Q3 25 | — | $-0.05 | — | $3.96B | — |
| Q2 25 MISS | $1.73 | $0.19 | -89.01% | $4.22B | -86.73% |
| Q1 25 | — | $0.13 | — | $3.57B | — |
| Q4 24 FY | — | $0.52 | — | $6.07B | — |
| FY Full Year | — | $1.38 | — | $19.80B | — |