Tesla reported a second consecutive quarterly profit on Wednesday and better-than-expected sales, but fourth-quarter earnings did not reach analysts' expectations and send its shares to the south after the markets closed. The results and prospects of the electric vehicle manufacturer for 2019 were not as bad as some were afraid of, but the automotive segment, which still covers most of Tesla's business, was less profitable than expected. This is Tesla's fourth winning quarter since it was released in 2010, and for the first time Tesla reported cost-effective results.
Tesla shares, which grew by 3.8% during their regular session, fell by around 2% in trade after working hours.
Profits were affected by a number of fronts. of regulatory credits, higher import duties on parts of China as well as lower S and model X prices in China, and a lower price of the mid-range model 3.
"Last year, the difficult year in Tesla's story, but also the most successful, said Musk in front of analysts during a conference call
"This message is a mixed bag," said CFRA analyst Garrett Nelson. "The company generates strong free cash flow , which should facilitate the concerns about the balance that we think is greatest Otto positive of this release.
Corrected EPS: $ 1
] On a unregulated basis, Tesla made $ 139.5 million, or 78 cents a share, compared to a loss of $ 675.4 million, or $ 4.01 per share, in the last quarter of 2017
Tesla said its cash position significantly improved by $ 1.45 billion, although $ 230 million was spent on convertible bonds during the quarter.
this year increases production and supply, with the goal of delivering between 360,000 and 400,000 vehicles, 45-65% more than deliveries in 2018. Musk predicts its supplies will grow by 50% 2019, "even if there is a recession." Investors pay close attention to the profitability of Tesla cars, especially model 3. The federal tax credit for each Tesla vehicle sold was halved to $ 3750 at the beginning of the year after Tesla sold its 200,000 units that meet the requirements for full credit. "360,000 to 400,000 vehicles are within the reach of what the street was expecting, and I think there were fears that would be significantly worse given what we saw in North America with the tax credit for EV, "said Wedbush analyst Dan Ives for CNBC.Analysis sees a tough year ahead for Tesla
" Things will not really get better for Tesla in the US than at the end of 2018, "she said CNBC on Wednesday. "Turning profit, creative coping with the challenges of production and turning Model 3 into the masses is huge is but the maintenance of this momentum will be virtually impossible. "
She said the product line is starting to run out and is facing the new competition of Audi, Porsche and Jaguar
" Tesla is in an awkward purgatory between the start and the main carmaker, and the biggest open issue in 2019 is when the company really goes from here, "Caldwell said," Tesla is accustomed to having the spotlight, but next year we can see a tapering Tesla, as the company takes baby steps to help to move things up while planning the future. "To raise more capital in the short term, especially given the fact that it has to repay debt of $ 920 million on 1 March. But under that price, Tesla will probably have to pay the banknotes in cash.
The company assured investors that it has "enough cash to settle in cash our convertible bonds that will fall in March 2019"
] Read Tesla's results here.