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Tesla Tumbles Following Unimpressive Earnings
Having beaten consensus earnings and revenues, it seems that the momentum stock of the year is finally getting its come-uppance as it missed whisper numbers on earnings and deliveries:
- *TESLA 3Q ADJ. EPS 12C, EST. 10C (whipser ~17c)
- *TESLA FINISHED 3Q WITH SLIGHTLY MORE THAN 5,500 DELIVERIES (whisper ~6,000)
- *TESLA SEES 4Q NON-GAAP PROFITABILITY `CONSISTENT' WITH 3Q
This has sent the stocks down over 9% after-hours near 10 week lows... perhaps Musk was right after all.
Q4 outlook: We are continuing to expand production and plan to deliver slightly under 6,000 Model S vehicles in Q4, which increases our total expected deliveries to 21,500 vehicles worldwide for 2013. ASPs are expected to be relatively flat sequentially as we continue to see a rich mix of options on incoming orders.
Model S gross margin may continue to make slight improvements over the next several quarters as we continue to drive down manufacturing costs. While we expect to achieve our target of 25% non-GAAP automotive gross margin in Q4 (assuming no contribution from ZEV credits), further progress is likely if customers continue to purchase our vehicles with a high option take rate.
R&D expenses are expected to increase sequentially by about 25% in Q4 as we accelerate product development efforts on Model X and Model S enhancements. SG&A expenses are expected to rise sequentially by about 20%, driven by the growth in our retail locations, service centers and Supercharger facilities.
We expect our non-GAAP profitability to be about consistent with Q3, with approximately 139 million fully diluted shares outstanding based on the current level of our stock price. Free cash flow is expected to be close to breakeven.
We expect to spend about $75 to $85 million on capital expenditures for a total of approximately $250 million in 2013, as we expand our factory production capability and customer support infrastructure. All these investments, funded in part by our profitable operations, position us for further expansion of our product portfolio and global growth.
We are now producing 550 cars per week with improved process controls which consistently result in high quality cars. Consequently, we finished the quarter with a record of slightly over 5,500 deliveries, including over 1,000 deliveries to European customers.
Full TSLA earnings here (PDF).
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Profit taking. thank you.
TSLA: a great stock to trade one day at a time, either up or down. Fundamentals do not matter except the week of earnings. The fundamentals are then quickly forgotten in favor of Musk tweets and other PR.
But not one of them will climb to 5000 feet without exploding first.
Musk, another overhyped Silicon Valley CEO.
Paging Baumgartner. Baumgartner?
I don't understand what any of this has to do with Tesla's stock price.
Me neither. I wouldn't be surprised to find the company bankrupt in another twenty months; unless of course, it becomes another "Government Motors". I'm not sure if we ever made it into the Age of Acquarius, but we sure as hell made it into the age of Corruption.
Non-GAAP.
Is that the same as mark to fantasy?
Mark to myth actually. Always remember a myth is as good as a mile.
A toy for rich progressive assholes. Fuck every one of you ignorant cunts
Tesla buyers are out of chips for the remaining bowl of dip
This has got to be bullish for GDP growth and lowering the unemployment rate. Just think of how much we need to spend to create jobs to clean this mess up and we didn't even make it. Winning Krugman style.
http://www.dailymail.co.uk/news/article-2487555/Island-debris-size-TEXAS...
Island of debris the size of TEXAS from 2011 Japanese tsunami is headed straight for the U.S.A floating island of debris the size of Texas has been crossing the vast Pacific Ocean to the western shores of the Americas since a devastating tsunami inundated Japan in 2011, says a new study.
Five million tons of wreckage - the remains of homes, boats, and other remnants of shattered lives in eastern Japan - were swallowed by the ocean that day in March, and more than one million tons of flotsam continues to head towards the west coast of the US.
While the first documented debris from the tragedy has already been found in California, scientists fear these new findings mean there could be a lot more to come and it might arrive all at once.
...
I hope it's headed right for fucking Malibu.
Over!
I hope this debris field swallows up that fucknuts Elon Musk
Abba - Money, Money, Money
http://www.youtube.com/watch?v=ETxmCCsMoD0
Easy money. All the way down.
When a CEO flat out tells you that his stock is overpriced. You should probably listen.
Do you think the fire was put into the carbon footprint? 13,000 credit sold per car is a huge intrusion into market pricing on WOW factor hype. You have a nice car but huge price premium for small functional pizazz.factor.. You know you never know when the car gets small penis fad treatment..
http://www.teslamotors.com/batteryswap
I could never understand the logic behind this. The batteries have value and their value depends on their age and amount of use.
So if you just bought the car would you want to swap batteries with some unknown battery bank? What the fuck am I missing?
Over.
All batteries including Li based batteries have memory effects. Typically, they do not charge up as much as they once did in the past. Another one of the multiple problems electric cars deal with.
FIRE SALE!!!
At $21 bill mkt cap....no thanks
If you liked it at 180 you'll absolutely love it at 160...
"Brokeback Muppets" is the feature HBO film this Fall.
Tumbling?
Sales down?
I thought they were on fire!
A week from now and the stock is where it has been in the afternoon. Just look at IBM.
Is it a Berkshire-jewel?
The corrupt Mexican mafia controlled CA legislature just passed a new "energy storage" (batteries) mandate, I think Teslas technically qualify to meet the new mandate.(there is no technical energy efficiency standard in the new bill), you just have to be able to store electricity anyway you can, efficiency is irrelevant.
The bill was probably aimed at AlGore's Bloom Energy chemical batteries (and of course accommodating more solar).
CA electricity cost 50% more than the rest of the country, (everybody has a political contribution built into their electrical bill.)
5500 vehicles sold / 21 billion market cap = 3.8 bil per vehicle.
Noooooooo....that's not overvalued. BTFD!
Going forward, Tesla is just getting fired up.
Tesla makes all the sense in the world. The world of ZIRP that is.
http://capitalistexploits.at/2013/07/a-cant-lose-deal-public-venture-cap...
Never thought it made any sense.
http://scharts.co/1hL5QhF : THIS DROP isn't registering on any site I check. Why?
After hours, only, for the time being. The muppets don't even know yet. But tomorrow it will probably gap up on a rumor, just to blow the shorts out of the water.
looks like someone tried a couple of times but it didn't work out in the end. Wish I had the spare cash to short this be-otch but given the risk vs reward & the manipulation I think I'll stay out for now.
yahoo quotes says down $22 (12.5%) after hours as of 7:29P EST.
22k cars is a long way from the 1.2 million they need to sell per year by 2018 to justify their valuation at $150 a share.
Tesla nuts claim the forthcoming Model X will more than double Tesla's sales. In reality the model X will just cannibalize sales of the model S.
But that piece of shit fad company still has a higher market cap than FIAT. Welcome back to 1999 folks.
You guys ain't gettin' it - of course it's expensive - it is new technology. The first 10 plus years of IC autos were all 'playthings of the rich' as well.
Did you miss:
"R&D expenses are expected to increase sequentially by about 25% in Q4"
?
Who the hell else is plowing that much bucks back into their product? Some of you guys sound like you miss buggy whips.
That's funny- electric cars have been around since the buggy whip....
Who plows that much back into R&D? Simple- a company that won't turn a dime of GAAP profit until the NEXT technology hits....
enjoyed the brief cameo in iron man 2