Tesla earnings

2022 - 10 - 20

Tesla comes in light on revenue, beats on earnings (CNBC)

Tesla's net income (GAAP) for Q3 2022 reached $3.33 billion and automotive margins remained stable at 27.9%.

The company reiterated that deliveries of its Semi electric heavy duty truck will begin in December, and confirmed that it is producing the Semi in Nevada, where it produces battery packs for its vehicles in the US. But Tesla increased its store and service center locations by just 6% in the third quarter, adding 41 new locations versus the second quarter of 2022. As of the end of the third quarter, Tesla said it was operating 728 store and service locations, with a fleet of 1,532 mobile service vehicles. Tesla's energy unit generated $1.12 billion in revenue for the quarter. Tesla's energy division competes for battery cell supply with its automotive division and versus other electric vehicle makers. [deliveries](https://www.cnbc.com/2022/10/02/tesla-tsla-q3-2022-vehicle-delivery-and-production-numbers.html) for the quarter ending September 30 reached 343,000 and vehicle production reached 365,000. Energy revenue growth came mostly from sales of energy storage systems. Tesla's automotive regulatory credits made up 1.5% of automotive revenues at $286 million for the quarter. He added, "North America's in pretty good health, although the Fed is raising interest rates more than they should, but I think they'll eventually realize that and bring them down again." In fact I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. "The factories are running at full speed and we're delivering every car we make, and keeping operating margins strong." That doesn't mean it will happen or will be easy."

Tesla Earns Record Operating Profit. Wall Street Yawns. (Barron's)

The stock dropped about 4% because its bottom-line numbers aren't enough to quell investor questions about rising costs and falling demand for new cars.

](https://www.barrons.com/market-data/stocks/tsla) [Elon Musk](https://www.barrons.com/articles/elon-musk-tesla-bankruptcy-twitter-51655982269?mod=article_inline) could send shares higher in after-hours trading on Wednesday. Tesla

Tesla revenue misses forecast; new factories squeeze margins (Reuters)

Tesla Inc on Wednesday posted record third-quarter revenue but still missed Wall Street estimates as the electric carmaker led by billionaire Elon Musk ...

Musk has been trying to raise cash to fund his $44 billion deal to take Twitter Inc private. Tesla's market cap is now under $700 billion, while Apple is worth $2.3 trillion and oil producer Saudi Aramco is worth $2.1 trillion. "Raw material cost inflation impacted our profitability along with ramp inefficiencies" from its new factories in Berlin and Texas, and the production of its new 4680 batteries, according to Tesla's statement. [(TWTR.N)](https://www.reuters.com/companies/TWTR.N), although he and other investors were [overpaying](/markets/deals/musk-says-excited-by-twitter-deal-despite-overpaying-2022-10-19/) for the social media company. [(AAPL.O)](https://www.reuters.com/companies/AAPL.O) and Saudi Aramco [(2222.SE)](https://www.reuters.com/companies/2222.SE), combined. Musk added that production of the 4680 battery was gaining rapid traction, although executive Andrew Baglino said, "There are challenges still ahead that we have not yet surpassed. Some experts say Musk may need [(TWTR.N)](https://www.reuters.com/companies/TWTR.N). [to sell about $3 billion more in stock](/markets/us/how-will-elon-musk-pay-twitter-2022-10-07/) after the earnings announcement to help fund the deal. [delivered 35% more vehicles](/business/autos-transportation/teslas-third-quarter-deliveries-miss-estimates-2022-10-02/) in the July-September period than in the previous quarter, but the record number was shy of vehicle production and analysts' estimates. Musk also said the company has the ability to do a stock buyback in the range of $5 billion to $10 billion, pending board review and approval. [(TSLA.O)](https://www.reuters.com/companies/TSLA.O) Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand after the company's revenue missed Wall Street estimates.

Tesla Earnings Top, But Sales Are Light; TSLA Stock Dips As Musk ... (Investor's Business Daily)

Tesla earnings topped Q3 estimates, but revenue missed. TSLA stock, near a 52-week low, slipped after hours, ahead of the conference call.

That followed a 0.8% gain to 222.04 for TSLA stock in the regular session. "We are making progress on the industrialization of Cybertruck," Tesla said. At the same time, waiting lists for Tesla vehicles in China have been getting shorter, so growth may have to rely on exports. Incentives for new commercial EVs include tax credits of up to $40,000. The difference reflected vehicles in transit at the end of the quarter, the company said. Langan increased his earnings estimates for Tesla by 33% through 2026 to reflect Inflation Reduction Act incentives. The law provides $7,500 tax credits for EVs that qualify based on where the vehicles and battery materials are produced. Incentives for U.S.-based production could amount to $3,100 per vehicle, or $2.8 billion for Tesla, based on its potential 900,000 U.S. Since the Q2 report, passage of the Inflation Reduction Act has improved the intermediate-term financial outlook for Tesla. It's unclear the extent to which EV demand can withstand recession. Tesla has been targeting a 50% annual increase in deliveries to 1.4 million this year. Nelson said that Tesla's hefty cash balance of $21.1 billion could raise pressure for a stock buyback.

Tesla to report Q3 earnings after markets close (Axios)

Here are a few things on our radar when Tesla, the world's largest seller of electric cars, reports Q3 earnings Wednesday after markets close and CEO Elon ...

But he offered nothing on future volumes and timelines. 6](https://www.axios.com/2022/10/07/musk-tesla-semi-production-pepsi-deliveries-december) that Tesla's long-delayed semi-truck is starting production and PepsiCo will get the first deliveries Dec. [Reuters reports](https://www.reuters.com/business/autos-transportation/tesla-investors-focus-demand-issues-earnings-report-2022-10-18/). The big picture: Tesla's now consistently profitable. [said on Oct. [Energy & Environment](https://www.axios.com/energy-environment)

Tesla earnings rebound but 50% growth target at risk (CNN)

Tesla posted improved third quarter earnings that were generally in line with Wall Street forecasts, but profits were still just short of where they were at ...

He has not been able to sell Tesla shares since that latest reversal, because as a company insider he can’t sell shares between the end of a quarter and when it reports. Instead, with share values climbing in the past, it had frequently sold additional shares in order to raise its cash reserves. But Musk needs to be the pilot on the plane. [Musk’s plan to purchase Twitter](http://www.cnn.com/2022/10/07/tech/elon-musk-twitter-deal-financing/index.html) plays out in the next few weeks. Musk has already [sold 17.6 million shares of Tesla](http://www.cnn.com/2022/08/09/investing/elon-musk-tesla-stock-sale/index.html) stock, raising $15.4 million, since announcing his agreement to buy Twitter. The company is still “looking forward to a record-breaking Q4,” CEO Elon Musk said on a call with investors Wednesday. The company had previously reported it delivered 344,000 cars in the third quarter, a record for the company, and up 42% from a year ago. The stock’s relatively modest decline Wednesday is likely because investors were already expecting Tesla to concede it wouldn’t hit the 50% growth figure, according to Dan Ives, tech analyst for Wedbush Securities. The delivery miss, combined with them taking their medicine, recognizing they’re not to hit the 50% number,” he said. Telsa still has a fraction of the sales of established automakers. It was better than the $3.5 billion earnings forecast by analysts surveyed by Refinitiv. This target has become more difficult but it remains possible with strong execution.”

Tesla Needs Musk to Convince Doubters It Has No Demand Issue (Bloomberg)

Months after the CEO insisted the carmaker's problem is production, it reported disappointing deliveries.

Tesla (TSLA) Q3 2022 earnings results miss on revenue, beat EPS (Shacknews)

Tesla is boasting records for this latest earnings report, though the company's revenue is slightly below what was projected.

Despite today's earnings, Tesla (TSLA) stock appears to be down in afterhours trading. [Q3 2022 earnings call](https://www.shacknews.com/article/132705/tesla-tsla-q3-2022-earnings-call) begins at 2:30 p.m. You can catch that live on the [Shacknews Twitch Channel](https://www.twitch.tv/shacknews). Tesla's earnings are somewhat surprising given the outlook of last quarter, as well as the increasing commodity and energy prices. The initial phase of Tesla Semi deliveries is scheduled to begin in December 2022. As a result, we began transitioning to a smoother delivery pace, leading to more vehicles in transit at the end of the quarter. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. YoY, operating income was primarily impacted by the following items: Our operating margin reached $17.2% in Q3. Raw material cost inflation impacted our profitability along with ramp inefficiencies from Gigafactory Berlin-Brandenburg, Gigafactory Texas and 4680 cell production. Meanwhile, its EPS number came in at $1.05 per share, compared to the $0.99 that was expected. The third quarter of 2022 was another strong quarter with record revenue, operating profit and free cash flow.

Tesla quarterly profit jumps, but revenues miss estimates (Economic Times)

Tesla reported Wednesday another quarter of sparkling earnings growth, but shares fell amid questions over the resilience of electric vehicle demand, CEO Elon Musk's embattled Twitter transaction and other issues. The electric vehicle (EV) maker scored ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). With US inflation showing no signs of easing, analysts wonder whether demand for the pricey vehicles will remain robust. Some analysts see the drop in Tesla shares -- during a period that saw the S&P 500 advance -- reflects worries that Musk will sell more Tesla shares to finance the purchase of the social media company. Tesla shares were down more than six percent to $208.16 in after-hours trading, despite Musk saying there is a potential for the company to buy back billions of dollars' worth of shares. - Immune to inflation? Shares of Tesla have dropped more than 16 percent since September 30, shortly before the company released its third-quarter delivery figures and ahead of Musk's October 4 revival of his bid to acquire Twitter and head off a trial in which he was being sued by the company for breach-of-contract. "I think it's an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now." - But Covid-19 remains a wildcard in light of China's continued adherence to its zero-tolerance approach to fighting the virus. Tesla is on pace for a 50 percent increase in production this year, but could fall shy of that goal when it comes to getting the cars to buyers, chief financial officer Zach Kirkhorn said on the call. Tesla watchers are expecting a strong fourth quarter with a restored Shanghai factory and the ramp-up of plants in Texas and Germany. Tesla is working on smoothing out a "crazy delivery wave" at the end of each quarter, Musk told analysts. The electric vehicle (EV) maker scored a more than doubling of profits in the third-quarter to $3.3 billion on increased auto deliveries

Tesla (TSLA) Q3 2022 Earnings Call Transcript (Motley Fool)

My name is Martin Viecha, VP of investor relations, and I'm joined today by Elon Musk, Zachary Kirkhorn, and a number of other executives. Our Q3 results were ...

But we think we're probably -- we think it's -- the architecture of Dojo as the right architecture to win. And I think we'll -- we're almost there. So -- and yes, I mean, and our output 4680 is growing exponentially. And that sort of leaning out of yields, the final cycle time to achieve target -- you mentioned logistics. And I think -- we still feel confident that 4680 will be the most competitive battery cell in the world. And I think Cathie Wood at Ark Invest is -- I'm going to make this point over and over again, to the Fed and the Fed is not listening because they're looking at the rearview mirror instead of looking out the front windshield. And Tesla remains the -- Tesla and SpaceX are two companies where the smartest engineers want to work. It isn't because like it's not like -- it's not like engineers, they're not generic. Look, we are in the -- at least for now, quite in a good position of we're investing in everything we can think of to possibly invest in, and we're still generating cash. And how -- yes, we can talk more about that at a future date. And on the cathode side, the [Inaudible] we think will probably be iron and most of the iron -- iron can scale to very, very high tonnage and then some nickel. And we will begin ramping up production of the Tesla Semi, which is a max low, heavy -- a heavy truck.

Tesla, Inc. (TSLA) Q3 2022 Earnings Call Transcript (Seeking Alpha)

Tesla, Inc. (NASDAQ:NASDAQ:TSLA) Q3 2022 Results Conference Call October 19, 2022 05:30 PM ET Company Participants Martin Viecha - VP, IR Elon Musk - CEO ...

But we think we’ll probably -- we think it’s -- this is -- the architecture of Dojo is the right architecture to win. And so what -- at least of what we know so far, the peak on the commodity side in Q3 -- I say peak, hopefully, it stays the peak, hopefully, it starts to come down. I think, at your Annual Shareholders’ event, where Elon mentioned that the prices of many of the materials used in your production have started to come off the boil. I mean, like we don’t have to spend billions of dollars to invest in the future and invent the future. Look, we are in the -- at least for now, quite in a good position of -- we’re investing in everything we can think of to possibly invest in, and we’re still generating cash. I mean, I think the way to think about it is our total amount of operating expenses will slowly tick up as the company grows. So I think the public, at large, realizes that everyone’s moving towards electric vehicles and that it’s foolish to actually buy a new gasoline car at this point because the residual value of that gasoline car is going to be very low. Yes, ramp is going well, as Elon said. And that sort of mix is going to shift as 4680 scales here and the overall factory ramp proceeds in Texas. And as Elon mentioned, we are continuing to build as many cars as possible while also maintaining strong operating margins. Yes, the car is going to be sick and -- sick. But we want to work through the right process to do a buyback, but it’s certainly possible for us to do a buyback on the order of $5 billion to $10 billion, even in the downside scenario next year, even -- given if next year is a very difficult year, we still have the ability to do a $5 billion to $10 billion buyback.

Tesla earnings

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