Kandi reported earnings of 8 cents a share for the second quarter. Revenue grew 171.1% year-over-year to $32.96 million for the quarter.
Revenue from electric vehicles grew 552.1% from the year-ago quarter to $13.25 million. Kandi's joint venture sold a total of 4,114 electric vehicles in the second quarter, up from 1,215 in the previous quarter.
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- KNDI's very impressive revenue growth greatly exceeded the industry average of 23.5%. Since the same quarter one year prior, revenues leaped by 174.0%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- Compared to its closing price of one year ago, KNDI's share price has jumped by 289.45%, exceeding the performance of the broader market during that same time frame. Although KNDI had significant growth over the past year, our hold rating indicates that we do not recommend additional investment in this stock at the current time.
- The current debt-to-equity ratio, 0.51, is low and is below the industry average, implying that there has been successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.85 is somewhat weak and could be cause for future problems.
- KANDI TECHNOLOGIES GROUP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. During the past fiscal year, KANDI TECHNOLOGIES GROUP swung to a loss, reporting -$0.57 versus $0.20 in the prior year.
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Automobiles industry. The net income has significantly decreased by 729.7% when compared to the same quarter one year ago, falling from $2.24 million to -$14.09 million.
- You can view the full analysis from the report here: KNDI Ratings Report