Alert: Reverse Split on 3SPA(1:8,500), 3SMI(1:35,000) and 3SSQ(1:16,00)

<p>Alert:<small class="text-black ps-2"> Reverse Split on <small class="text-black ps-2">3SPA(1:8,500), 3SMI(1:35,000) and 3SSQ(1:16,00)</small></small></p>

Tesla Earnings Q3 2023

Posted:
Topic:
Publication Type:

Tesla's Profits Slump Due to Price Cuts and Plant ShutDown

Tesla for Q3FY23 reported total revenue of $23.35 billion compared to $21.454 billion up by 9% YoY. The rise was led by price cuts and growth in automotive deliveries. (Source: Tesla)

On a segmental basis, Tesla's Automotive business reported revenue of $19.625 billion up by 5%. The automotive segment's revenue derived from regulatory credits significantly increased in the third quarter, reaching $554 million. This marks a substantial rise from the previous quarter, where it stood at $282 million, and also represents growth compared to the $286 million reported in the third quarter of the previous year. (Source: Tesla)

The company's Energy generation and storage posted revenue of $1.559 billion up by 40% YoY. Tesla's energy division reported a notable increase in energy storage deployment during the quarter, with 3,653 MWh deployed. This marks a significant 90% growth compared to the corresponding period in the previous year. However, the company experienced a decrease of 48% year-over-year in its solar installations, which amounted to 49 MW.  Moreover, Services and other segments of the company reported a 32% rise from the same period last year. (Source: Tesla)

The Austin carmaker has been aggressively slashing prices since last year, which has affected the company's margins. Tesla's total operating margins stood at 7.6% which is significantly down from 17.2% same quarter last year. The operating margins were also impacted by an increase in operating expenses driven by Cybertruck, AI, and other R&D projects. (Source: Tesla)

The company in its shareholder's presentation mentions cost of goods sold per vehicle decreased to ~$37,500 in Q3. Meanwhile, the production cost at new factories remained higher than their established factories, the company has implemented necessary upgrades in Q3 to enable further unit cost reductions. Moreover, the company's research and development expenses were up from $733 million to $1.16 billion YoY. (Source: Tesla)

Tesla reported a GAAP (adjusted) net income of $2.3 billion in the quarter, or 66 cents a share, down 37% from a year earlier and the smallest profits it reported in two years. The revenue and net income were both hurt due to the temporary shutdown of several production lines for upgrades, which it said led to a sequential decline in production volumes. The net income was also impacted by the price cuts from last year. (Source: Tesla)

Earlier this month, the company reported 435,059 vehicles sold during the July-September quarter an increase of 27% from Q3FY22. Also, the company said that they will be laying out the groundwork to begin construction on a new factory planned in Mexico. The company is working to bring down the price of its cars. (Source: Tesla)

The company has announced Cybertruck deliveries are on track for November 30th of this year at Giga Texas. (Source: Yahoo)

In the company's earnings call, CEO Elon Musk voiced concerns about the condition of the worldwide economy and emphasized the company's dedication to enhancing the affordability of its vehicles. (Source: CNBC)

Tesla reported its earnings after the market on 18th October. The shares rose by approximately 2.4% in after-hours trading as the report was published. Tesla stock after that slumped around 5% as Elon Musk warned Cybertruck will take 18 months to generate positive cash flow and become a significant contributor after production. (Source: CNBC)

Visit Us: https://graniteshares.com/institutional/uk/en-uk/

Capital at Risk | For Sophisticated investors only

#TSLA #TeslaStock #TeslaInvestors #Tesla #TeslaMotors #ElectricCars #EV #ElonMusk #Cybertruck

Short Tesla ETPs by GraniteShares

Short Tesla ETPs by GraniteShares

Product name Ticker
USD EUR GBX

GraniteShares 3x Short Tesla Daily ETP

3STS 3STE 3STP

GraniteShares 3x Long Tesla Daily ETP

3LTS 3LTE 3LTP

GraniteShares 3x Short FATANG Daily ETP

3SFT 3S3E 3S3P

GraniteShares 3x Long FATANG Daily ETP

3FTG 3FTE 3FTP

GraniteShares FATANG ETP

FTNG FTNE FTNP

GraniteShares 1x Short FATANG Daily ETP

SFTG SFTE SFTP

DISCLAIMER

This is a disclaimer stating that all trading and investing comes with risks. Always do your research and do not invest more than you can afford to spend.

GraniteShares accepts no responsibility for any loss or damage resulting directly or indirectly from the use of this blog or the contents. GraniteShares Limited (“GraniteShares”) (FRN: 798443) is an appointed representative of Messels Limited which is authorised and regulated by the Financial Conduct Authority.

This blog does not constitute an offer to buy or sell or a solicitation of an offer to buy securities in any company. Nothing contained herein constitutes investment, legal, tax or other advice nor is to be relied upon in making an investment or other decision. No recommendation is made positive or otherwise, regarding individual securities or investments mentioned herein. Any summary list of risk factors does not purport to be a complete enumeration or explanation of the risks involved in a particular investment. Prospective clients must consult with their own legal, tax and financial advisers before deciding to invest. This email contains the opinions of the author and such opinions are subject to change without notice. The source of data is GraniteShares unless otherwise stated. No guarantee is made to the accuracy of the information provided which has been obtained from sources believed to be reliable. This email and the information contained herein is intended only for the use of persons (or entities they represent) to whom it has been provided. Past performance is not a reliable indicator of future results.  The value of an investment may go down as well as up and can result in losses, up to and including a total loss of the amount initially invested. Investments may involve numerous risks including, among others, company risks, general market risks, credit risks, foreign exchange risks, interest rate risks, geopolitical risks and liquidity risks.  Please note that GraniteShares short and leveraged Exchange Traded Products are for sophisticated investors.

f