Group 1: Earnings Performance - Xos, Inc. reported a quarterly loss of $1.32 per share, which was better than the Zacks Consensus Estimate of a loss of $1.39, and an improvement from a loss of $2.40 per share a year ago, resulting in an earnings surprise of 5.04% [1] - The company has surpassed consensus EPS estimates for the last four quarters, but reported revenues of $15.79 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 28.67% and down from $16.7 million year-over-year [2] Group 2: Stock Performance and Outlook - Xos shares have declined approximately 35.6% since the beginning of the year, contrasting with the S&P 500's gain of 25.5% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] Group 3: Earnings Estimates and Industry Context - The current consensus EPS estimate for the upcoming quarter is -$1.34 on revenues of $25.16 million, and for the current fiscal year, it is -$5.37 on revenues of $75.99 million [7] - The Automotive - Domestic industry, to which Xos belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

LOS ANGELES, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS) (“Xos” or the “Company”), a leading electric truck manufacturer and fleet services provider, today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights: Generated revenues of $15.8 million, up from $15.5 million last quarter and down from $16.7 million in the third quarter of 2023Delivered 94 units, up from 90 units last quarter and down from 105 units in the third quarter of 2023Achiev ...

LOS ANGELES, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it is scheduling the release of its third quarter 2024 operating results for Wednesday, November 13, 2024 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Daylight Time / 1:30 p.m. Pacific Daylight Time that same day. Conference Call and Webcast Details Date / Time:Wedn ...

LOS ANGELES, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading manufacturer of fully electric commercial vehicles, today announced the launch of the 2025 Xos SV Stepvan, featuring two new wheelbase options: 158" and 208". These additions complement the existing 178" wheelbase, offering fleet operators enhanced flexibility to meet their specific operational needs. The introduction of the 158" and 208" wheelbases reflects Xos' commitment to delivering solutions that meet the evolving needs ...

XPENG launches its first major synchronized global OTA upgrade for eligible users across Europe, the Middle East, Southeast Asia, and other markets During the 28-day beta, global users engaged enthusiastically, and nearly a hundred feedback items were integrated into the final OTA update. Additionally, there's a plan to roll out at least four OTA updates in the forthcoming year. XPENG hosted its inaugural global user OTA salon in Denmark, focusing on customer feedback and advancing smart mobility on a world ...

Xos, Inc. (XOS) came out with a quarterly loss of $1.23 per share versus the Zacks Consensus Estimate of a loss of $1.94. This compares to loss of $4.20 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 36.60%. A quarter ago, it was expected that this company would post a loss of $2.19 per share when it actually produced a loss of $1.80, delivering a surprise of 17.81%. Over the last four quarters, the company has surpassed con ...

LOS ANGELES, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it is rescheduling the release of its second quarter 2024 operating results to Tuesday, August 13, 2024 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Daylight Time / 1:30 p.m. Pacific Daylight Time that same day. Conference Call and Webcast Details Date / Time: Tuesd ...

Core Insights - XPENG Motors has launched the Tianji XOS 5.2, an advanced in-car operating system featuring 484 upgrades, marking a significant advancement in AI technology for smart driving and smart cockpit functionalities [3][4][18] - The company has accelerated its Go Global 2.0 strategy, entering 30 countries and regions, and has achieved the highest export volume among Chinese pure electric brands for mid-to-high-end models in the first half of 2024 [2][4] - XPENG's XNGP system has transitioned to nationwide availability, eliminating reliance on HD maps and enabling smart driving across all cities, routes, and road conditions [10][20][21] Product and Technology Developments - The Tianji XOS 5.2 integrates AI technology into both smart cockpit and smart driving, enhancing user experience with features like remote voice control, gesture control, and customizable dashboard themes [19][18] - XPENG has achieved a rapid OTA update cycle, with one version iteration every two days and five full-scale updates within 70 days since the global launch of Tianji XOS [7][17] - The XNGP system has been tested in over 2,595 cities with a cumulative mileage exceeding 7.56 million km, showcasing its capability to adapt to complex driving scenarios [21][11] Market Position and Strategy - XPENG has positioned itself as a leader among Chinese smart electric vehicle brands, focusing on technology-driven mobility solutions for tech-savvy consumers [15][17] - The company aims to enhance its smart driving capabilities further by reducing user safety interventions and improving overall user experience by the end of 2025 [12][22] - XPENG's new S5 liquid-cooled ultra-fast charging station, set to launch in Q3 2024, will offer a maximum charging speed of "adding 1 km of range per second," enhancing the convenience of electric vehicle charging [13]

LOS ANGELES, July 11, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it will release its second quarter 2024 operating results on Monday, August 12, 2024 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Daylight Time / 1:30 p.m. Pacific Daylight Time that same day. Conference Call and Webcast Details Date / Time: Monday, August 12, 2024, ...

Financial Data and Key Metrics Changes - The company generated $13.2 million in revenue for Q1 2024, a 180% increase compared to Q1 2023, but a decrease from $18.4 million in Q4 2023 due to delivery delays [7][10][22] - Gross margins reached a record 21.2%, up from 7.2% in the previous quarter, driven by higher average selling prices and reduced overhead costs [7][28] - Cash and cash equivalents increased to $46.2 million from $11.6 million at the end of Q4 2023, primarily due to the acquisition of ElectraMeccanica [24] Business Line Data and Key Metrics Changes - The company delivered 62 units during the quarter, with strong sales activity in the Stepvan segment, particularly driven by California's Advanced Clean Fleets compliance [7][11][12] - Initial deliveries of Stepvan-based powertrains were made to new customers, indicating growth opportunities in the powertrain business [11] - The updated Xos Hub was introduced, designed to expedite electrification for fleets, with production rates expected to reach up to eight hubs per month in the second half of 2024 [13][19] Market Data and Key Metrics Changes - The company noted strong demand driven by regulatory pressures and high fuel costs, with sales orders for Q2 tracking similarly to Q1 [68] - The Advanced Clean Fleet Regulation in California is prompting fleets to transition to EVs, contributing to increased demand [68] Company Strategy and Development Direction - The company aims to become a self-sustaining cash-generating entity, focusing on growing its core Stepvan, Hub, and powertrain businesses [9] - The strategy includes addressing charging infrastructure delays by deploying the Hub and temporary charging solutions to improve delivery predictability [14][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite Q1 delivery delays, citing proactive planning with upfitters and testing new temporary charging solutions [38][39] - The company anticipates significant growth in powertrain deliveries and is optimistic about the long-term success driven by EV mandates and incentives [26][31] Other Important Information - The company reaffirmed its full-year 2024 guidance of revenue between $66.7 million and $100.4 million, with a non-GAAP operating loss expected between $43.7 million and $48.7 million [25] Q&A Session Summary Question: Infrastructure delays and confidence in guidance - Management clarified that upfitter delays were not related to infrastructure issues and expressed confidence in improved planning to avoid future delays [36][38] Question: Hub production expectations - The company is preparing for production rates of up to eight hubs per month but did not provide specific production guidance for the year [40][41] Question: Gross margin sustainability - Management indicated confidence in stabilizing and improving gross margins, moving into higher-margin 2024 model year vehicles [52][54] Question: Operating expenses and path to EBITDA positivity - Operating expenses were significantly reduced, and while some increase is expected, management is confident in maintaining cost control [55] Question: Demand perspective and market confidence - Management reported strong demand driven by regulatory incentives and high fuel costs, with no signs of market slowdown [68][69]