logo
  Join        Login             Stock Quote

Tesla Motors (TSLA) Posts Wider Than Expected 4Q Loss; Shares Off

 February 20, 2013 04:36 PM


(By Balaseshan) Electric vehicles maker Tesla Motors Inc. (NASDAQ: TSLA) reported a wider quarterly loss due to higher costs and expenses. Despite revenue exceeding consensus, adjusted loss was wider than Street's expectations, sending its shares down 3.26% in aftermarket.

Loss for the fourth quarter widened to $89.93 million or $0.79 per share from $81.49 million or $0.78 per share last year. Adjusted loss per share narrowed to $0.65 from $0.69.

Revenue climbed to $306.33 million from $39.38 million, as Tesla said it saw strong demand for options such as the Performance version and Tech Package. Automotive sales jumped to $294.38 million from $32.68 million.

[Related -Forget Tesla: Profit From These 2 Surprise Electric-Vehicle Stocks]

Analysts, on average, polled by Thomson Reuters had expected a loss of $0.53 per share on revenue of $298.40 million for the fourth quarter.

Operating expenses increased 29 percent.

In the third quarter of 2012, Tesla posted adjusted loss per share of $0.92 on revenue of $50.10 million.

Gross margin for Q4 was almost 8%, compared to negative 17% last quarter, as a result of a higher Model S production rate, the move to production prices for certain Model S parts, among others.

Tesla produced over 2,750 vehicles during the fourth quarter. The company has delivered about 2,400 Model S vehicles during the latest quarter.

"We plan to deliver about 20,000 Model S units in 2013. We expect to start the year with about 4,500 deliveries in Q1, as we gave the manufacturing team the first week of the year off to celebrate their accomplishments during 2012," Chief Executive Elon Musk and Finance Chief Deepak Ahuja said in a statement.

[Related -Tesla Motors Inc. (TSLA) – 3T Analysis: Driving Towards the 52-Week High]

The company expects first quarter material, labor and overhead costs to be substantially lower than in the fourth quarter of 2012, and for this trend to continue in 2013. As a result of these actions and the favorable impact of regulatory credits, Q1 gross margin is projected to improve to the mid-teens percentage range.

In the first quarter of 2013, Tesla expects to generate slightly positive net income, on a non-GAAP basis. The company also projects to be near break-even on cash flow from operations. These targets would be achieved through a combination of improved gross margin and lower R&D expenses.

TSLA closed Wednesday's regular session down 0.97% at $38.90. The stock has been trading between $25.52 and $40.00 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageApple Inc. (AAPL) Q3 Earnings Preview: A Hiccup in Sentiment?

Apple Inc. (NASDAQ:AAPL) will post its third-quarter 2014 financial results and business after the market read on...

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.