Sunday, 17 February, 2019

Tesla's profit fails to please analysts

"Keeping Summer safe is a pretty bloody reference for Elon Musk to make. Adult Swim
Laurie Berry | 31 January, 2019, 18:55

Tesla also said that while its "delivery and logistics systems continued to progress" in the fourth-quarter, there remained "room for more improvement".

The company said, barring unexpected challenges with Gigafactory Shanghai, it was targeting annualized Model 3 output of more than 500,000 units sometime between the fourth quarter of 2019 and the second quarter of 2020.

In the year-ago quarter, Tesla posted a loss of $3.04 per share on revenue of $3.29 billion. But with the new 100kWh models, the lowest-price Model S vehicles start at $85,000, while the lowest-price Model X will cost at least $88,000, with the option to pay an additional $8,000 to add about 8% more driving range.

Here's a snapshot of Wall Street's expectations and some recent history.

The company announced this month it would cut seven percent of its workforce in a push to lower the price of its Model 3 to keep it affordable, especially as U.S. subsidies for electric cars are phased out.

Musk noted that after a year that was both challenging, and its most successful, Tesla had grabbed 80 per cent of the EV market in the United States, with the Model 3 being the most successful premium vehicle of any type. Last quarter, Tesla reported $6.8 billion.

Krish Hits Back At Kangana's Sister
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Asked about Model 3 reservations, Ahuja said that number was "not relevant".

Tesla shares fell 5.1 per cent to about US$293 per share as of 6:51 a.m.in NY. Total fourth-quarter production grew 8% from the third quarter to 86,555 vehicles.

Following Elon Musk's recent warning of a "very difficult" time ahead for Tesla, the electric vehicle maker on Wednesday reported a much smaller profit for the fourth quarter than it saw during the previous three months.

"Tesla serves the goal of a "stalking horse" to the fast growing domestic Chinese EV industry, but we believe it has limited to zero terminal value in a region where a number of domestic champions should emerge", Morgan Stanley analysts said. This projection is slightly behind schedule when compared to Musk's previous commentary in mid-2017, when he had asserted that investors should have "zero" doubt that Model 3 production would hit 10,000 per week in 2018.

Musk announced a 7 percent workforce reduction earlier this month, saying it was crucial to cut costs to roll out a lower-priced, yet still profitable, Model 3.

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