Tesla's CEO, Elon Musk, managed to send his Tesla Roadster in space, why not, earlier this week – and it looks like his week (and Tesla's) continues to follow the results of the fourth quarter.
The company slightly surpassed Wall Street 's financial expectations, and said it was still aiming to produce 2,500 model 3 vehicles by the end of the first quarter. Tesla has already set this target, but as he begins to develop a new vehicle for a larger market, he has had to deal with the resulting production problems. The company again said that it was not an exact science regarding this target, but it did not seem to reduce expectations, and the stock was up slightly as a result. What is probably more important is that it does not turn (yet) down, which means that Wall Street at first sight is fine with what she sees and that she's going continue to be patient with the company.
"We continue to target weekly model 3 production rates of 2,500 by the end of the first quarter and 5,000 by the end of the second quarter," Tesla said. in his press release. "It is important to note that while we focus on these levels and have plans in place to achieve them, our previous experience with the Model 3 ramp has demonstrated the difficulty of accurately predicting specific production rates at specific levels. precise moments. . What we can say with confidence is that we are taking many steps to systematically resolve bottlenecks and add capacity in places like the battery of modules where we have been under stress. through Q2. "
Here is the latest line of slash for the company:
- Fourth-quarter sales : $ 3.29 billion, against $ 3.28 billion in analyst estimates
- Fourth Quarter Results : Loss of $ 3.04 per share, compared to analysts' estimates of a loss of $ 3.16 per share.
- Q4 Model S / X deliveries : 28,425 vehicles (up 28% from Q4 2016)
- Q4 Model 3 deliveries : 1,542 vehicles
- Total fourth quarter deliveries : 29,967 vehicles
- Balance of cash : 3.4 billion dollars
Tesla also said it wants to start generating a positive quarterly operating profit on a sustainable basis "at some point in 2018", and that its revenue growth rate in 2018 is "exceeded by significantly the growth rate of last year. "
This patience will continue to be critical if the company seeks to raise additional capital by trying to achieve these goals. Tesla also said that despite delays, net bookings for Model 3 have remained stable. While Tesla is starting to roll out plans for new vehicles and is trying to ramp up, bookings are a big part of this equation as a gauge for demand and how the company will continue to operate with its huge expenditures of Treasury. The fact that the title has not taken a significant hit (and is actually slightly rising following the report) signals the limited red flags in the company report – this is going to be a challenge as it is in a heavy ramp phase.
Tesla has often been evaluated on its production while Wall Street is looking for signs that it can keep the promise of increasing production of its larger electric vehicle model market, the Model 3. The Company In January, it said it produced 2,425 model 3 vehicles in the fourth quarter and wants to make about 2,500 cars a week by the end of the first quarter of this year.
Stock Image: Darrell Etherington