CATL earnings: guidance and results
CATL's next results are expected on November 24, 2026. CATL's key watch is whether overseas plants move from trial production to customer-approved repeat shipments.
What has CATL guided for 2026?
The larger promise is a network of 4,000 integrated charge-and-swap stations across 190 cities by December 2026. Integrated means that one site can both charge vehicles and replace their batteries. CATL also plans passenger-car and heavy-truck stations, including 600 in colder northern regions, while global deliveries of TENER Sodium are scheduled for June 2027.
| Period | Low | High | Given on | |
|---|---|---|---|---|
| Cumulative shipments (GWh) | Year to Dec 2026 | 1 | 1 | Jun 22, 2026 |
| Integrated charge–swap stations (stations) | Year to Dec 2026 | 4,000 | 4,000 | Apr 21, 2026 |
| Cities (cities) | Year to Dec 2026 | 190 | 190 | Apr 26, 2026 |
| Choco-Swap stations in colder northern regions (stations) | Year to Dec 2026 | 600 | Feb 5, 2026 |
Has CATL kept its past promises?
CATL has also reported progress on specific promises. In August 2026, it said it had achieved carbon neutrality in core operations, with all twenty battery plants certified, though the broader value chain remains outside that scope. It reported implementing its 2025 shareholder distribution based on half of attributable profit, while a later buyback proposal specifies cancellation.
How have CATL's revenue and profit changed over the last eight reported periods?
Revenue rose 56.9% from the June 2025 quarter, but operating income rose 35.1% and attributable net income rose 36.5%. Diluted earnings per share rose 31.8%, so sales grew faster than profit, and profit grew faster than the earnings belonging to each share.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 423,701.834 | 362,012.554 | 400,917.045 | 328,593.988 | 130,355.796 |
| Revenue growth (calculated) | 17.0% | -9.7% | 22.0% | 152.1% | 159.1% |
| Operating income | 89,518.636 | 64,051.799 | 53,718.302 | 36,821.983 | 19,823.729 |
| Net income | 72,201.282 | 50,744.682 | 44,121.248 | 30,729.164 | 15,931.318 |
| EPS, diluted | 16.14 | 11.58 | 10.05 | 7.16 | 3.80 |
What should CATL watchers look for next?
The first checkpoint is 31 December 2026, when the swap-network and TENER Sodium commitments meet their deadlines and Spain reaches its original production target. Open stations matter, but compatible vehicles, paid transactions and commercial deliveries matter more.