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Tesla Motors (TSLA)

  • Wed, Feb. 11, 5:39 PM
    • Tesla Motors (NASDAQ:TSLA) announces it delivered 9,834 vehicles in Q4. 11,627 vehicles were produced, leading the company to hit a 2014 production target of 35K Model S units.
    • Q4 results were hurt by delayed Model S P85D deliveries caused by "a combination of customers being on vacation, severe winter weather and shipping problems." The company also blames "one-time manufacturing inefficiencies related to the introduction of P85D and Autopilot functionality, and the impact of the strong dollar."
    • Tesla expects to ship 55K Model S and X units in 2015, yielding more than a 70% Y/Y increase in deliveries. 40% of the deliveries are expected in the first half of the year.
    • Q4 non-GAAP gross margin was 26.7% vs. 23.0% in Q3 and 25.2% a year ago. Automotive gross margin was 22%. Operating expenses rose 15% from Q3 to $297M.
    • Q1 production is only expected to be at 10K vehicles, and deliveries at 9.5K (+47% Y/Y). Automotive gross margin is expected to be at 26%, and operating expenses are expected to rise 12%-15% from Q4.
    • Tesla took in $42M from powertrain sales during Q4 and $86M in regulatory credits. The company entered 2015 with over 10K Model S orders and nearly 20K Model X reservations.
    • A conference call is scheduled for 7:30 PM ET (webcast).
    • Tesla shareholder letter (.pdf)
    • TSLA -2.4% after hours.
    • Previously: Tesla misses by $0.44, misses on revenue
  • Wed, Feb. 11, 5:21 PM
    • Tesla (NASDAQ:TSLA): Q4 EPS of -$0.13 misses by $0.44.
    • Revenue of $956.66M (+55.5% Y/Y) misses by $273.34M.
    • Shares -3.5% AH.
    • Press Release
  • Tue, Feb. 10, 5:35 PM
  • Tue, Feb. 10, 3:54 PM
    • Tesla Motors (TSLA -0.3%) sold only 120 cars in China during January, according to a report from Reuters.
    • The mark falls below the expected pace for the region.
    • A leaked memo from Tesla CEO Elon Musk has warned country managers that their jobs are at risk if performance isn't on a track to produce long-term positive cash flow.
    • Shares of Tesla retreated from positive territory after the story broke.
    • Previously: Tesla Motors to introduce new models in China (Jan. 26)
    • Previously: Tesla China chief exiting (Dec. 12, 2014)
  • Tue, Feb. 10, 11:34 AM
    • Some anecdotal evidence suggests a tug-of-war has broken out between Apple (NASDAQ:AAPL) and Tesla Motors (TSLA -0.5%) over top talent.
    • Tesla has hired over 150 Apple employees across divisions, according to a Bloomberg report issued last week.
    • But no reason for worry in Cupertino, Apple has hired about 50 engineers from Tesla in what a tipster tells Business Insider is a vehicle development project.
    • The best guess from analysts is that the companies might compete on next-gen infotainment OS and vehicle-to-vehicle communication standards.
    • If Apple were to make a strong entry into the automobile sector it opens up a few interesting questions for investors on where to place their bets.
  • Fri, Feb. 6, 3:47 PM
    • Tesla's (TSLA -1.8%) stock price target is lowered to $200 from $220 at Barclays, which explains that its fundamental difference with TSLA bulls lies around the company's ability to become a successful mass-market OEM.
    • While Barclays says the bulls would argue that TSLA will be the next Ford, it sees many challenges ahead for the company; upon revisiting its margin and delivery estimates, the firm says it is reminded again that "crossing that chasm is harder than it looks, especially in a new era of low oil prices."
    • The firm warns that while TSLA eventually could reach double-digit operating margins, it thinks Wall Street may be underappreciating that margins will be suppressed at least through the end of the decade as TSLA increases R&D and SG&A investment to support its growth.
  • Tue, Feb. 3, 7:41 PM
    • Automakers turned in an impressive U.S. sales tally for January with majors GM, Ford, Fiat Chrysler Automobiles, Honda, and Toyota all with double-digit sales growth.
    • The gains weren't top-heavy as Subaru (+24%), Audi (+14%), Mitsubishi Motors (+33%), and even Porsche (+27%) all big gainers.
    • Sales of lights trucks and SUVs rose 19.3% during the month, according to Autodesk.
    • Average transaction prices were up 5.2% Y/Y on average, estimates Kelley Blue Book. GM and Ford both benefited on their ATP through a higher mix of SUVs and trucks.
    • It wasn't a spectacular month for electric vehicle sales with demand for the Nissan Leaf falling off and the Tesla Model S an insignificant factor in the U.S. total.
    • High-level automobile execs attributed the strong demand in part to the $2 gas price level seen across the U.S.
  • Mon, Feb. 2, 11:16 AM
    • Global Equities Research increases its price target on Tesla Motors (TSLA +3.8%) to $385 after factoring in the impact of a strong U.S. dollar on the EV automaker's bottom line.
    • The investment firm estimates 70% of Tesla's component costs are from international suppliers which gives it a nice tailwind for 2015 profitability.
    • Though the mix of Tesla sales is roughly 50-50 between domestic and international, Global Equities thinks many global buyers for Tesla vehicles are performance-sensitive and will absorb some of the dollar impact on local price.
    • SA contributor Nick Cox has the other side of argument. He warns the strong USD is an immediate concern for Tesla in Japan and Australia.
  • Sat, Jan. 31, 10:39 AM
    • Automakers need to address the issue of how to sell to millennials, according to data from TrueCar.
    • The group is projected to purchase 4.24M vehicles in 2015 to account for close to 25% of the total new car market in the U.S. That's a percentage that will stay on the rise over time.
    • A few things to keep in mind about millennials.
    • They have an indie spirit that can veer away from dominant brands. Just ask McDonald's or Anheuser-Busch InBev.
    • They are early adopters of new technology. Just ask the cable companies.
    • They don't take their marching orders from Madison Avenue on what products are on-trend. Just ask Abercrombie & Fitch.
    • Millennials are likely to have a lot to say with the critical question on if electric batteries or hydrogen fuel cells (Tesla vs. Toyota) emerge as the dominant alternative energy source for the industry.
  • Thu, Jan. 29, 1:40 PM
    • Tesla Motors (TSLA +2.9%) will release Q4 and annual results after the market closes on February 11.
    • Analysts expect revenue of $1.23B in Q4 and EPS of $0.31. The crowd at Estimize is higher at $1.289B rev and $0.49 EPS.
    • Guidance from the automaker is for full-year 2014 deliveries of 33K.
    • The bar on 2015 Model S deliveries was set by Tesla at 50K units.
    • Key items to watch in the report will be sales growth in China, Gigafactory progress, and any change to the timetable for the Q3 introduction of the Model X.
  • Mon, Jan. 26, 8:42 AM
    • Tesla Motors (NASDAQ:TSLA) aims to release the Model X SUV in China early in 2016, according to development exec Diarmuid O'Connell.
    • The EV automaker will also introduce a dual-motor version of the Model S in the nation.
    • Elon Musk warned at the Detroit Auto Show that Tesla's pace of sales in China was a bit behind original expectations.
    • Previously: Tesla Motors roundup: Optimism, caution, and confusion (Jan. 21 2015)
    • TSLA +0.2% premarket.
  • Wed, Jan. 21, 11:12 AM
    • Morgan Stanley sticks with an Overweight rating on Tesla Motors (TSLA +2.2%) in a new note on the EV automaker.
    • The investment firm lowers its price target by $10 to $280 after getting thrown off a bit by Elon Musk's projection of Tesla U.S. GAAP profitability in 2020 (MS had Tesla with $1.6B in GAAP profit by 2020).
    • The Globe and Mail's Jeremy Cato thinks Tesla is exposed by Musk's prediction of delivering a "few million" vehicles by 2025. The writer notes industry veterans such as Nissan's Carlos Ghosn back the EV technology solidly without getting pinned down on sales projections.
    • China remains a hard-to-grasp piece of the puzzle on Tesla (even to Musk). The cozy relationship between Google and SpaceX looks interesting with Tesla rival Leshi working on a new EV for the Chinese market with some help from the Mountain View company. Though Leshi hired a former Nissan top exec this week, most analysts see the company aiming at even higher pies in the sky than Tesla in China.
  • Tue, Jan. 20, 2:46 PM
    • Global Equities Securities sticks with an Overweight rating and lofty $385 price target on Tesla Motors (TSLA -0.3%) as part of a new research report on the company.
    • The investment firm predicts Tesla will create a unique energy storage industry through the Gigafactory development that could be worth as much as $50B.
    • In its past bullish calls on Tesla, Global Equities took the long view that Model S demand is well-ahead of supply in dismissing quarterly production numbers.
  • Thu, Jan. 15, 8:08 AM
  • Wed, Jan. 14, 9:17 AM
  • Wed, Jan. 14, 8:34 AM
    • Tesla Motors (NASDAQ:TSLA) trades lower following Elon Musk's Detroit Auto Show talk as investors hone in on the pushed-out production timetable.
    • The EV automaker could introduce the Model 3 by 2017, but high-volume production on the car appears to be further down the road.
    • Musk sees a run-rate of a few million cars by 2025 and profits for the company by 2020.
    • There's a dose of reality on the costs of the Gigfactory as well. The state of Nevada is in for a "few" hundred million - not the $1.5B which has been bandied around.
    • Picking fights? Musk on Toyota's fuel-cell vehicles initiative: "If you're gonna pick an energy storage system, hydrogen is a dumb one."
    • Reaction: Baird calls the slide in Tesla shares a knee-jerk reaction and thinks investors should buy at current levels.
    • The investment firm has been in a solid defensive stance all week, titling a report on the GM electric Bolt development "I've Always Wanted a Chevy? We Think Not."
    • TSLA -8.9% premarket to $186.05 vs. the consensus analyst PT of $273.08.
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Company Description
Tesla Motors Inc designs, develops, manufactures and sells high-performance fully electric vehicles and electric vehicle powertrain components.