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More on Tesla: A Q1 profit is now expected; company had previously guided for a late 2013...

More on Tesla: A Q1 profit is now expected; company had previously guided for a late 2013 profit, and the Q1 EPS consensus is -$0.13. Over 2,750 Model S units were produced in Q4 vs.~350 in Q3. 2,400 units were delivered, up from 253 in Q3; 20K deliveries expected in 2013. Net reservations at end of Q4 totaled 15K, up 2K from end of Q3. Company plans to open 15-20 new stores/galleries and double service locations in 2013. Gross margin was 8% vs. -17% in Q3, expected to hit 25% in 2H. Opex +29% Y/Y to $114.7M. TSLA -5.7% AH. CC at 5:30PM ET (webcast). (PR)
Comments (5)
  • Sharif Galal
    , contributor
    Comments (92) | Send Message
     
    Seems as though maybe the shareholder letter might have some news that is not exactly celebratory, $TSLA down more than 7% at time of writing http://bit.ly/WaZPO7

     

    "Converting these reservations to firm, non-refundable orders increased cancellations, as expected. After deliveries and
    cancellations, our net reservations at year end, were over
    15,000, up from about 13,000 at the end of Q3. New
    reservations continue at a steady, although slower pace in
    Q1 2013, as compared to December, due in part to the pull
    ahead of reservations into Q4 by customers seeking to
    avoid the price increase. Q1 cancellations are likely to
    remain elevated as the remaining older reservation holders
    are invited to configure their vehicles within a set time frame
    or pay the higher price just like new reservation holders.
    20 Feb 2013, 05:17 PM Reply Like
  • wigit5
    , contributor
    Comments (3976) | Send Message
     
    Something just isn't smelling right, the price increase... the cancellations... the people who want the smaller batteries having to wait longer than expected.
    20 Feb 2013, 06:13 PM Reply Like
  • berylrb
    , contributor
    Comments (2184) | Send Message
     
    EDIT: the 60kw are shipping and the 40kw are due late spring/summer
    20 Feb 2013, 06:17 PM Reply Like
  • dc tesla
    , contributor
    Comments (8) | Send Message
     
    I got my 60kwh yesterday, and 2 months ahead of schedule.
    21 Feb 2013, 04:24 PM Reply Like
  • wigit5
    , contributor
    Comments (3976) | Send Message
     
    Really dc? That is interesting not only that you got it early but they have started producing some 60kwh for delivery... that is the first I have heard...

     

    congrats on the car my family member who got theirs in December is head over heals with it so far.
    21 Feb 2013, 04:31 PM Reply Like
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