Knowing these figures, the shares of the company of Elon Musk go down a 3.7% a u$s222.04 million in the after market of Wall St.
It should be noted that this new presentation of results occurs in the middle of the conflict unleashed between Elon Musk and Twitter for the acquisition of the social network. Situation that did not generate a particularly positive sentiment among investors in Tesla.
While the income from automobiles amounted to US$18,692 million, while Tesla’s energy unit generated $1.12 billion in revenue during the quarter. Although the shares fell more than 17% since the report on the weekend of October 2.
from the company reported certain difficulties in meeting deliveries, especially at the end of each quarterwhich generated a increase in costs. From Tesla, they reported that they are working on it and that are implementing a transition to a slightly slower delivery scheme, in order to avoid inefficiencies in the process. In addition, they highlighted that, in addition to the aforementioned logistical inconveniences, bottlenecks are added especially in relation to batteries, which represents the main limiting factor for growth in the short and medium term.
Specifically, the company led by Musk reached the milestone of record vehicle productionof 365,923 unitswhich represents an increase of 54%. For its part, the overall number of cars delivered was 334,830 unitswhich indicates a ascent of 42% in the last 365 days.
What do the specialists think about the results?
Damián Vlassich, Equity Analyst at IOL investonline, highlighted that the asset position and equivalents informed in the balance sheet, totaled US$21,107 million, meaning a 31% growth in relation to the third quarter of 2021. “Regarding cash flow and cash position, it is not a minor fact, since In a scenario of rate hikes by the Fed and greater difficulty and cost in accessing credit, a company with positive cash flow and a solid cash structure has a greater margin to face an adverse context, mentioned the specialist showing the supremacy achieved by the company at a time of great losses for the American equity sector”.
“On the other hand, despite the aforementioned positive data and maintaining the path of growth, the company also reported an understanding in margins. Yes ok remains one of the highest in the segmentthe gross margin of automobile sector totaled 27.9% reflecting a decrease in year-on-year terms of 258 basis points. Nevertheless, We must highlight that it does not present variations with respect to what was reported in the second quarter of this same year.. This last point was especially highlighted in the presentation to the shareholders, since they highlighted that they continue to maintain a leading operating margin for the industry in an unfavorable context with high levels of inflation and a strengthening dollar. This last situation has generated some inefficiencies in both the Berlin and Texas plants,” concluded Vlassitch.
“After the report where analysts previously expected a record number of earnings despite the acknowledgment that their Deliveries were a bit short of what was expected. There was a lot of expectation for the forecasts about what they expect for the coming months. Companies like this they need to surprise in revenue and earnings per share always to maintain the movement they have in prices. If they come out the same as expected, sometimes it’s bad news too, especially in this market context,” he said. Paulino Seoane head of investment ideas at Balanz.
Regarding the future, The company reiterated that deliveries of its semi-electric heavy truck will begin in December. The product was first announced in December 2017. It did not offer a firm timeline for the start of production of its cybertruck Pickup, and only said that it would be produced in Texas after the increase in production of the ModelY over there.
Source: Ambito
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