Tesla (TSLA) has launched its monetary outcomes and shareholders letter for the third quarter of 2020 after market shut in the present day.
We’re updating this put up with all the small print from the monetary outcomes, shareholders letter, and the convention name later tonight. Refresh for the most recent info.
As we reported in our Q3 earnings preview post yesterday, the market had excessive expectations for Tesla this quarter after the corporate confirmed report deliveries earlier this month..
Wall Avenue was anticipating income of about $8.2 billion for the quarter and a acquire of $0.55 per share.
Tesla managed to destroy expectations with $8.7 billion in income and a acquire of $0.76 per share (Non-GAAP).
The market favored Tesla’s expectation beat with a 4% leap in after-hour buying and selling because of $800 million in income this quarter..
Tesla reported within the shareholder letter:
“The third quarter of 2020 was a report quarter on many ranges. Over the previous 4 quarters, we generated over $1.9B of free money stream whereas spending $2.4B on new manufacturing capability, service facilities, Supercharging areas and different capital investments. Whereas we took extra SBC expense in Q3, our GAAP working margin reached 9.2%”
The automaker ended the quarter with a brand new report of $14.5 billion money place within the financial institution.
With these ends in Q3, Tesla has now achieved an working margin of 6.3% over the past 12 months:
“For the trailing 12 months, we achieved an working margin of 6.3%. We anticipate our working margin will proceed to develop over time, in the end reaching industry-leading ranges with capability growth and localization plans underway.”
Right here’s the abstract of Tesla’s Q3 2020 monetary outcomes:
Right here we will probably be posting our follow-up posts in regards to the earnings and convention name to broaden on an important factors (refresh the web page to see the newest posts):
Right here’s Tesla’s Q3 2020 shareholder letter and presentation in full:
Right here’s Tesla’s Q&A webcast for the quarter:
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