The world's most expensive manufacturer of electric vehicles Tesla $TSLA published financial results for the third quarter 2022 G. On Wednesday, 19 October, stock climbed to 0,8% to the main session, but collapsed at the postmarket on 6,3%, to $208,1
Key financial indicators:
– Revenue: $21,45 billion (+56% y / y) — slightly below Wall Street's expectations — $21,5 billion
– Operating profit: $3,7 billion (+84% y / y)
– Gross margin was 25,1% (against 26,6% a year earlier), operating margin — 17,2% (14,6%)
– Adjusted EBITDA increased by 55% y / y, to $4,9 billion. EBITDA margin was 23,2%, against 23,3% a year earlier and 22,4% last quarter
– Net profit: $3,3 billion (+103% y / y)
– Adjusted EPS was $1,05, which surpasses Wall Street's estimates in $1,03.
Revenue and operating profit set a new quarterly record.
Truth, values could not reach market forecasts, which was one of the reasons for the fall in shares. The company stated, that the decline in expected sales is due to disruption of supply chains at the end of the quarter. Profit growth is constrained by higher costs, associated with a slower increase in production at the two newest plants.
Since the beginning of the year, more than 908 thousand. electric vehicles, which is almost at the level of everything 2021 G. — 936 thousand. Previously in Tesla Stated, what in 2022 G. deliveries will increase by 50%, that is, up to about 1,4 million cars. It turns out, that in the fourth quarter the company needs to put more than 490 thousand. auto. According to Elon Musk, just the last quarter 2022 G. will become "epic". Actually, the 50% supply growth target may not be achieved due to logistical challenges, at the same time, production can reach the desired mark, CFO Zachary Kirkhorn said.
At the end of September, Tesla shares again resumed their decline along with the US market., which is a consequence of the pressure of inflation and rising interest rates, affecting consumer demand. In mid-October, the shares updated the minimum of the current year and were able to rebound slightly upwards.. Yesterday's report returned stocks to a minimum. At a short distance, stocks are able to retest the minimum at the level of $204,1, especially if there is data on the financing of the transaction with Twitter through the sale of Tesla shares. in this scenario the benchmarks will fall to the lows 2021 G. — to the area $190–180. Since the beginning of the year stock Tesla sank more on 40%.
The profit and loss statement noted, that "logistical instability and supply chain bottlenecks remain immediate challenges., although they are improving".
It also talks about concerns about demand in China., Musk's global economy and financial needs for his Twitter deal $TWTR .
Macroeconomic problems, probably, are the biggest factor, hanging over Tesla, but funding musk's purchase on Twitter also created some uncertainty.: Argued, that Mask, maybe, you will have to unload additional 8 billion dollars of shares $TSLA for that, to pay off Twitter.
_______
PROSPECTS
Tesla plans to increase deliveries on 50% (to 1,4 million) this year.
"In fact,, the 50% supply growth target may not be achieved due to logistical challenges, production can reach the desired point."
CNBC: Elon Musk wants to raise the capitalization of Tesla above Apple
The market capitalization of the American manufacturer of electric cars Tesla may surpass the value of Apple Corporation and the Saudi oil company Saudi Aramco combined.
At the presentation of the company's results for the third quarter of the fiscal year, the American billionaire noted, that the U.S. will be able to significantly exceed Apple's current market value.
According to data from US exchanges at the end of the trading session on Wednesday, the market value of Tesla is 695,7 billion dollars.
The cost of Apple is estimated in 2,31 trillion dollars, and Saudi Aramco — 7,86 trillion rials (2,1 trillion dollars).
