TSLA
Tesla's Q3 beat: 500K deliveries target still in play
- Tesla (NASDAQ:TSLA) reports it produced 145,036 vehicles in Q3 (+51%
Y/Y) and delivered 139,593 vehicles (+44%).
- On profitability (5th quarter in a row): "Our operating income
improved in Q3 to a record level of $809M, resulting in a 9.2% operating
margin. This profit level was reached while we took increased SBC expense
in Q3 attributable to the 2018 CEO award, of which $290M was triggered
by a
significant increase in share price and market capitalization and a new
operational milestone becoming probable. Positive profit impacts included
strong volume, better fixed cost absorption and continuous cost
reduction."
- Automotive gross margin came in at 27.7% of sales to improve from the
25.4% mark in Q2 and 22.8% a year ago.
- Tesla sticks with a target to deliver 500K this year vs. the consensus
estimates of 476K. The Model Y and Shanghai production are called the key
factors in hitting the mark.
- Tesla also says it should have sufficient liquidity to fund its
product roadmap, long-term capacity expansion plans and other expenses.
- Shares of Tesla are up 3.29% AH to $435.98 vs. the 52-week trading
range of $50.27 to $502.49. The conference call is scheduled for 5:30
p.m.
ET.
- Previously: Tesla EPS beats by $0.16, beats on revenue (Oct. 21)
|Yesterday, 4:19 PM|171 Comments
Tesla's Q3 beat: 500K deliveries target still in play
- Tesla (NASDAQ:TSLA) reports it produced 145,036 vehicles in Q3 (+51%
Y/Y) and delivered 139,593 vehicles (+44%).
- On profitability (5th quarter in a row): "Our operating income
improved in Q3 to a record level of $809M, resulting in a 9.2% operating
margin. This profit level was reached while we took increased SBC expense
in Q3 attributable to the 2018 CEO award, of which $290M was triggered
by a
significant increase in share price and market capitalization and a new
operational milestone becoming probable. Positive profit impacts included
strong volume, better fixed cost absorption and continuous cost
reduction."
- Automotive gross margin came in at 27.7% of sales to improve from the
25.4% mark in Q2 and 22.8% a year ago.
- Tesla sticks with a target to deliver 500K this year vs. the consensus
estimates of 476K. The Model Y and Shanghai production are called the key
factors in hitting the mark.
- Tesla also says it should have sufficient liquidity to fund its
product roadmap, long-term capacity expansion plans and other expenses.
- Shares of Tesla are up 3.29% AH to $435.98 vs. the 52-week trading
range of $50.27 to $502.49. The conference call is scheduled for 5:30
p.m.
ET.
- Previously: Tesla EPS beats by $0.16, beats on revenue (Oct. 21)
|Yesterday, 4:19 PM|171 Comments
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