Tesla Inc (TSLA) Stock Rise After Q4 Earnings Report
Tesla Inc (TSLA) released its Q4 2017 earnings results after closing bell tonight. The Tesla Inc (TSLA) earnings release revealed a GAAP loss of $4.01 per share, which was much worse than the consensus of $3.63 per share in losses. The automaker posted non-GAAP losses of $3.04 per share, compared to the consensus estimate of $3.11 per share. Tesla Inc (TSLA)’s revenue rose to $3.3 billion, which was in line with the consensus.
Blomst / Pixabay
The Tesla Inc (TSLA) earnings release revealed $2.7 billion in automotive revenue and a GAAP automotive gross margin of 18.9%, compared to $2 billion and 22.6% in the year-ago quarter. The non-GAAP automotive gross margin, which excludes stock-based compensation and zero emission vehicle credits, was 13.8%. Energy generation and storage revenue rose to $298 million from $131.4 million a year ago.
Tesla Inc (TSLA) delivered 29,967 vehicles during Q4 2017, of which 28,425 were the Model S and Model X, while the other 1,542 were the Model 3. Model S and Model X deliveries increased 10% sequentially and 28% year over year. However, the automaker has been reallocating some of its production space to the Model 3, which limited the number of Model S and Model X vehicles it could produce.
Net orders for the Model S and Model X were close to the all-time high. Tesla Inc (TSLA) added that while some were worried that the less expensive Model 3 would cannibalize its more expensive models, it has found the opposite to be true. While consumer foot traffic has increased “considerably” in stores that have a Model 3 on display, orders for the Model S and Model X have also increased.
Tesla Inc (TSLA) deployed 143 MWh of energy storage products during Q4, representing a 45% year-over-year increase. The company will recognize 129 MWh of energy storage deployment in South Australia in Q1 2018. Tesla Inc (TSLA) deployed 87MW of energy generation systems in Q4, a 20% sequential decline.
Tesla Inc (TSLA)’s cash balance stood at $3.4 billion at the end of Q4 2017. The automaker said that “at some point” this year, it expects to “begin generating positive quarterly operating income on a sustained basis.”
The automaker said it has “significantly” ramped Model 3 production, and now it is still targeting a rate of 2,500 to 5,000 Model 3 cars by the end of Q2. However, Tesla Inc (TSLA) also set investors up for another disappointment, saying that its “prior experience on the Model 3 ramp has demonstrated the difficult of accurately forecasting specific production rates at specific points in time.” The company also said that net reservations for the Model 3 were still “stable” in Q4, and they have begun to grow more recently since it has been able to ship show units to some of its stores.
The post Tesla Inc (TSLA) Stock Rise After Q4 Earnings Report appeared first on ValueWalk.
Source: valuewalk
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