Venerdì, 20 Ottobre, 2017

Tesla roars to life, posts its second-ever profitable quarter

A Tesla Model S charges at a Tesla Supercharger station in Cabazon California A Tesla Model S charges at a Tesla Supercharger station in Cabazon California
Rufina Vignone | 29 Ottobre, 2016, 02:14

Beat revenue estimates. The company saw GAAP revenue figures of $2.3 billion, topping our consensus estimate of $2.127 billion and gaining 145% year-over-year.

Although the company has generated free cash flow, repaid $600 million in debt and finished September with $3.1 billion in cash, doubts over its cash burn continue.

Tesla said it still expects to deliver 50,000 vehicles in the second half of this year, with fourth-quarter deliveries of about 25,000 targeted.

Musk, who is SolarCity's chairman and top shareholder as well as being Tesla's chief executive, has said he plans to provide more financial details on the deal on November 1 ahead of a vote by shareholders of both companies on November 17. Indeed, accounts payable and accrued liabilities rose by over $600 million from June 30 to $2.3 billion.

"Our current plan does not require any capital raise for the Model 3", Musk said on the call. This company has been trading at the Elon Musk premium for a while, but it looks like it paid off this quarter with Tesla setting new records for vehicle production, deliveries and revenue in Q3.

While Musk demonstrated Tesla's ability to temper its cash burn during the quarter, the spending will increase markedly in this year's final three months under the demands of preparing the Fremont, California factory for Model 3 production and building out the gigafactory for battery production east of Reno, Nevada.

Tesla Motors rolled out its Model 3 earlier this year and since then the pre-orders have been flowing in for the company.

Elsewhere, the hard-charging Paypal co-founder said recent reports that Tesla had been discounting cars to meet sales targets were exaggerated.

Tesla earned 72 cents a share in the third quarter of 2016, beating analysts' expectations of a 54 cent loss. "And yeah, I mean, things are looking good". "In the USA, which is Tesla's most mature market, Model S deliveries grew almost 60 percent year over year, increasing its lead status with a 32 percent share of the top 12 selling large luxury sedans, as Model S unit growth significantly outpaced US large luxury sedan category sales growth", Tesla added.

It might be wise for Tesla Motors to raise more funds to help bankroll its upcoming auto launch and factory expansions. Further, the USA -based automaker indicated that it has substantially decreased the costs for production of its Model 3 sedan in 2017. Year to date, the stock is down more than 15%, while in the last year, it is down more than 3%. Tesla also reiterated its plan to boost annual production to 500,000 cars in 2018, up from just 50,000 previous year.

The 45-year-old C.E.O. was also cautiously optimistic about his controversial bid to acquire SolarCity, telling investors that the Musk family-owned solar panel installation company could contribute to a profitable fourth quarter, too.

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