Tesla announced their results after market close for the 4th quarter.
Not surprisingly, it was a sensational quarter. After registering 112,000 delivered in the quarter, everyone knew the company would post terrific numbers. The results were even better than expected.
Today, Tesla announced that it made $7.384 billion in revenue and it reported surprising profits of $2.14 per share (Non-GAAP) in Q4 2019 — over expectations for both revenue and earnings.
This led to a posting of free cash flow of $1 billion. This gives the company $6.3 billion in cash.
https://ww.electrek.co/2020/01/29/tesla-tsla-releases-q4-earnings-beats-on-revenue-and-earnings/
The stock touched $640 in after hours trading.
In terms of guidance, the company announced that is will easily surpass 500,000 cars in 2020. China is already producing at a yearly capacity of 150K Model 3.
The Model Y got some attention in the Investor Presentation. Production has already started at the Fremont plant with deliveries expected to start towards the end of the quarter. The ramp up will take place until the middle of the year.
We also should see a few deliveries of the Tesla Semi in 2020. No word on where they will be produced.
One of the more interesting revelations about production was this prospect.
The more interesting prediction is that Tesla, “due to ramp of Model 3 in Shanghai and Model Y in Fremont, production will likely outpace deliveries this year.”
The Cybertruck and new Roadster are not expected to see any production in 2020. They will be on the list for 2021.
The presentation did not go into the Maxwell acquisition or what is going on with the battery production.
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