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Discussion Starter #1 (Edited)
Tesla lost $49.8 million in the first quarter compared to a profit of $11.2 million in the same period a year earlier. The Model X will be delayed until next summer.

"It is now manufacturing at almost 700 vehicles per week, up 15% from the rate at the end of the fourth quarter and on the way to an expected 1,000 per week by year end."

http://www.latimes.com/business/autos/la-fi-hy-tesla-first-quarter-loss-20140507-story.html

http://blogs.wsj.com/moneybeat/2014/05/07/tesla-tumbles-after-quarterly-results
 

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Not too surprising they have a loss. With all the costs of ramping up volumes, building charging infrastructure, expanding sales, etc. However, I'm bummed that the X is delayed. Not that I'm going to buy one, just want to see them on the road.

Thanks for posting.
 

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The difference between the profit number of $17M and the loss of $49.8M is the profit number is based on Tesla's unique and not entirely transparent way of calculating the numbers whereas the loss is based on standard accounting rules. Lots of companies like to use special rules. The cable business was built on a fantasy of "free cash flow". This used to be easier but the SEC now requires the GAAP numbers and you can't bury them in the fine print.

The delay in the Model X is not surprising. The next one will also be late -- very late -- and be more expensive than advertised. But remember that the Volt was going to be "under $30K". Every new company and even established companies dealing with new technologies make these types of mistakes. Easy to do, especially when there are advantages to making them. Note that Nissan has just announced a new Leaf that may have double the range of the existing model. The battery will be ready in 2017! All these announcements about future products are just strategic marketing, trying to discourage buying cars from other manufacturers and encouraging buying of yours.

On the stock price, the stock isn't tied to earnings so anything that bursts the fantasy bubble can make the stock volatile. But so far the hype has gotten Tesla a ton of free money, which is the only way you can do it given the capital demands. Unless they need to do another stock offering the stock price doesn't matter to operations.
 

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The problem is, they had such a HUGE quarter this time last year that it was going to be hard to top without ramping up. And like others have said, the cash layout to fill out the Fremont factory does cost a lot. As for the Supercharger infrastructure, that's not a massive outlay. Seeing as how each one is ~$150k and they only lit 30 or so this quarter, that's only $4.5M. This quarter should be big once the new factory capacity gets up to speed. 1000 Cars a week should be easy as long as the battery supply keeps up.

Gigafactory(ies?) will also chew up some cash, and that quarter will probably also be bad. I bet they are going to make FY14 be the year they eat it, then go to the moon in FY15 and beyond.
 

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On the stock price, the stock isn't tied to earnings so anything that bursts the fantasy bubble can make the stock volatile. But so far the hype has gotten Tesla a ton of free money, which is the only way you can do it given the capital demands. Unless they need to do another stock offering the stock price doesn't matter to operations.
Here's hoping the stock plummets so I can go all in!!! I missed the last dip a few months ago but wish I had a wayback machine to buy some stock from 2 years ago before it popped.
 

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The difference between the profit number of $17M and the loss of $49.8M is the profit number is based on Tesla's unique and not entirely transparent way of calculating the numbers whereas the loss is based on standard accounting rules. Lots of companies like to use special rules. The cable business was built on a fantasy of "free cash flow". This used to be easier but the SEC now requires the GAAP numbers and you can't bury them in the fine print.
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It isn't unique and it is very transparent.
If you like, you can see all the specifics as they are spelled out clearly in their shareholder letter and statements.
http://files.shareholder.com/downlo...2f73d9c64e/Q1'14 Shareholder Letter final.pdf

Many were expecting them to beat expectations by 250% again. Those investors were disappointed and so we see a drop.
The news about the Gigafactory was good, but not a home run.
 

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Please keep in mind they are reporting earnings with non-GAAP accounting.

I'd love to see what the real numbers look like.
 

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Please keep in mind they are reporting earnings with non-GAAP accounting.

I'd love to see what the real numbers look like.
Please read the post directly above yours.
They report earnings with both GAAP and non-GAAP earnings.

As to your question,

GAAP revenue was $621 Million.
 

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My personal income statements will be mark-to-unicorn henceforth, based upon future earnings.
 
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